The 1916 Doubled Die Buffalo Nickel: The Five-Cent Rarity That Hid for 46 Years

The 1916 Doubled Die Buffalo Nickel: The Only DDO Five-Cent Rarity That Hid for 46 Years

The 1916 Doubled Die Buffalo Nickel has everything collectors want.

It has a great design, a dramatic minting mistake, and an epic discovery story. Most importantly, it has the kind of visible doubling that collectors can see without a microscope.

Yet many people outside the Buffalo Nickel specialty do not know how important this coin really is.

The 1937-D 3-Legged Buffalo Nickel gets the headlines. The 1918/7-D overdate also gets attention. However, the 1916 Doubled Die Obverse stands apart. It ranks as the most dramatic doubled die in the Buffalo Nickel series. It also stands as the only major Guide Book-listed Doubled Die Obverse in the series.

Even better, the story still has a treasure-hunt angle. Specialists estimate that only a few hundred examples survive. Most circulated heavily before collectors knew what they were. Therefore, a real example could still sit in an old album, a Buffalo Nickel roll, an estate group, or a dealer’s raw box.

The odds remain long. Still, the possibility gives this variety its magic.

[IMAGE: 1916 Doubled Die Buffalo Nickel obverse, full coin]

A Philadelphia Nickel With a Hidden Mistake

The Philadelphia Mint struck 63,498,066 Buffalo Nickels in 1916. James Earle Fraser’s design had already become a classic by then. The obverse shows a Native American profile. The reverse shows an American bison.

One working die, however, carried a major mistake.

During the die-making process, the Mint pressed a hub into a die blank more than once. This process helped bring up the full depth of Fraser’s design. Between hubbings, the die shifted. As a result, the design elements no longer lined up perfectly.

That shift created the famous 1916 Doubled Die Obverse.

Every coin struck from that die carried the same doubling. The Mint did not catch the error. Collectors did not catch it either. Instead, the coins entered circulation and wore down with ordinary 1916 nickels.

That delay shaped the entire rarity.

The Discovery Came 46 Years Later

Collector Herbert S. Perlin of Pomona, California, brought the variety to public attention in 1962. He sent photographs of his coin to Numismatic Scrapbook Magazine. The July 1962 issue published the first report.

By then, 46 years had passed.

That matters. Most 1916 Buffalo Nickels had already seen decades of use. Many had lost sharp date detail. Others sat in jars, albums, or dealer stock without special notice.

As a result, the 1916 Doubled Die did not receive the early collector attention that protected many other famous varieties. It hid in plain sight.

NGC certified the Perlin discovery coin in 2023 as NGC AU58. The coin had remained with the Perlin family for more than 60 years.

[IMAGE: Close-up of doubled date, “916” low and right]

How to Identify the 1916 Doubled Die Obverse

The 1916 Doubled Die Obverse carries the attribution FS-101. Collectors also call it the 1916/916 because the secondary impression creates the look of a low, offset “916” near the date.

However, this coin is not an overdate.

Instead, it shows hub doubling. The doubling appears on the obverse because the working die received misaligned hub impressions before it struck coins.

Look first at the date. The secondary “916” sits low and to the right of the primary 1916 date. The “16” usually shows the most obvious spread. However, strong examples can show doubling on all four date digits.

Next, study the portrait. Authentic examples show doubling on the chin, lips, throat, feathers, braid, and hair ribbon. The doubling generally spreads southeast from the primary design.

This visibility explains much of the coin’s appeal. A genuine example does not require a microscope. Even so, collectors should still use a quality 5X or 10X loupe.

Do Not Confuse It With Lesser Doubling

Many 1916 Buffalo Nickels show minor doubling, machine doubling, strike doubling, or damage that can mislead collectors.

That is why authentication matters.

A true 1916 Doubled Die Obverse shows the same major hub doubling in the same places. It does not show random shelf-like doubling. It also does not show a recut date or an overdate.

Because of the coin’s value, collectors should buy certified examples from PCGS, NGC, or CAC Grading. Raw examples deserve careful study. They also deserve professional attribution before any serious purchase.

Class V Pivot Doubling

Specialists classify the 1916 Doubled Die Obverse as a form of pivoted hub doubling.

In CONECA terms, the variety has appeared as 1-O-V-CW. This means obverse doubled die, Class V, with clockwise pivot doubling. The strongest spread appears away from the pivot point.

That technical detail helps explain the coin’s look. The doubling fans out across the obverse. The date shows the most dramatic effect because it sits near the area where the spread becomes strongest.

This differs from the famous 1955 Doubled Die Lincoln Cent. That coin shows a different type of hub rotation. Still, both coins share one key trait. The doubling looks bold to the naked eye.

Why So Few Survive

PCGS estimates about 400 survivors in all grades. NGC has described the known population as roughly 300 examples. CoinWeek’s June 2024 review noted that CAC, NGC, and PCGS had combined to grade just shy of 300 examples.

Those numbers do not always equal unique coins. Crossovers and resubmissions can affect grading totals. Even so, every estimate points to the same conclusion.

The coin is rare.

Most survivors grade from Good through Extremely Fine. Many fall around VG to XF. Some have corrosion, scratches, or other problems. That makes problem-free circulated coins desirable.

Mint State examples form a tiny group. PCGS estimates only 10 examples at MS60 or better. Gem examples remain unknown.

As of June 2024, the top population snapshot showed PCGS MS64 with three coins, NGC MS64 with six coins, and CAC approval at the MS64 level for two coins.

Market Strength and Auction Records

The market has long treated the 1916 Doubled Die Buffalo Nickel as a landmark 20th-century rarity.

Even low-grade certified examples can bring several thousand dollars. Good-4 coins have traded around the $5,000 level. Very Fine examples can reach five figures. About Uncirculated examples move much higher, depending on surface quality and eye appeal.

Mint State coins live in another market tier.

The PCGS auction record stands at $281,750 for a PCGS MS64 example sold by Bowers & Merena in August 2004. Another NGC MS64 example sold for $276,000 in a Bowers & Merena sale in April 2008. Heritage later sold that same NGC MS64 coin from the Teton Ranch Collection for $172,500 in January 2012.

A PCGS MS63 CAC example sold through Heritage in August 2022 for $138,000. That result advanced by more than $30,000 over a CAC-approved NGC MS63 example sold by Heritage in 2019.

Meanwhile, circulated examples continue to prove the coin’s depth. In May 2024, Heritage sold an NGC AU55 example for $24,000.

Selected Condition Census and Auction Trail

• PCGS MS64 CAC #25562670 Legend Rare Coin Auctions, December 15, 2016, Lot 125, passed. Legend Rare Coin Auctions, December 22, 2017-January 25, 2018, Lot 99, passed. Wispy orange and maroon toning. Thin diagonal mark on the neck above the 6. Reverse diagonal mark on the buffalo’s foreleg.
• NGC MS64 #632380-013 Bowers & Merena, April 2008, Lot 196, $276,000. Heritage Auctions, Teton Ranch Collection, January 4, 2012, Lot 3088, $172,500. Orange and rust toning.
• PCGS MS64 #21620854 Heritage Auctions, September 22, 2005, Lot 1853, $264,500. Heritage Auctions, Joseph C. Thomas Collection, April 30, 2009, Lot 2131, $184,000. Pastel pink and gold toning.
• PCGS MS64 #10897672 Heritage Auctions, Scott Rudolph Collection, January 8, 2009, Lot 3640, $195,500. Pale target toning with ice-blue centers and gold, orange, and magenta at the rims.
• PCGS MS63 CAC #42764935 Earlier PCGS MS62 #06580087. Heritage Auctions, Scott Rudolph Collection, January 2009, Lot 3639, $86,250. Later PCGS MS63 CAC #42764935. Heritage Auctions, August 24, 2022, Lot 3889, $138,000. Gately Collection insert. Gold crescent toning on the left obverse. Steel-blue color throughout.
• PCGS MS63 CAC #250444527 Legend Rare Coin Auctions, June 25, 2015, Lot 240, $146,875. Gold and magenta iridescence. Striations on both sides.
• NGC MS63 CAC #2074244-001 Earlier NGC MS63 #1624581-001. Heritage Auctions, March 2012, Lot 3178, $103,627.65. Later NGC
• MS63 CAC #2074244-001. Heritage Auctions, August 14, 2019, Lot 3718, $105,000.
• PCGS MS62 #6563043 Stack’s Bowers, Larry H. Miller Collection, November 12, 2020, Lot 6091, $78,000. Nearly horizontal striated toning in gold and goldenrod.

The Cherrypicking Dream Is Still Alive

The 1916 Doubled Die Buffalo Nickel offers a rare mix of history and possibility.

Most famous rarities left circulation quickly. This one did not. Collectors did not identify it until 1962. Therefore, many examples had already spread across the country, worn down, or entered old collections without fanfare.

That history creates today’s treasure hunt.

A genuine example could still appear in an old Buffalo Nickel roll. It could sit in a dealer’s raw box, or could rest in an inherited Whitman folder.

Or it could even be hiding among low-grade coins where the date looks weak but the feather doubling still confirms the variety.

Collectors should search every 1916 Philadelphia Buffalo Nickel carefully. Start with the date. Then check the chin, lips, throat, feathers, braid, and ribbon.

Still, caution matters. Most “new discoveries” will not prove genuine. Many will show machine doubling or damage. When in doubt, compare the coin to certified images and seek professional attribution.

Why Collectors Prize It

The 1916 Doubled Die Buffalo Nickel does not rely on a tiny mintmark or a subtle repunched detail. It announces itself.

The date looks doubled. The portrait looks doubled. The mistake tells its story at a glance.

That gives the coin broad appeal. Variety collectors want it. Buffalo Nickel specialists need it. Registry Set builders chase it. Error collectors respect it. Meanwhile, general collectors understand it immediately.

That combination drives demand.

The 1916 Doubled Die also carries a better backstory than most five-cent pieces. A major Mint mistake left Philadelphia. It circulated for decades. Then one California collector noticed what the market had missed.

Today, that same five-cent coin can bring five, six, or even nearly seven figures.

Quick Coin Facts

• Coin: 1916 Doubled Die Obverse Buffalo Nickel

  

• Attribution: FS-101
• Correct classification: Doubled Die Obverse, not an overdate
• Mint: Philadelphia
• Designer: James Earle Fraser
• Mintage of 1916 Philadelphia Buffalo Nickel: 63,498,066
• Composition: 75% copper, 25% nickel
• Weight: 5.00 grams
• Diameter: 21.20 mm
• Edge: Plain
• Strongest doubling: Date, especially the low-right “916” impression.
• Discovery: Herbert S. Perlin, Pomona, California
• First published report: July 1962, Numismatic Scrapbook Magazine
• Estimated survivors: Roughly 300 to 400 coins
• Mint State survivors: About 10 to fewer than 15 coins, depending on source and counting methodPCGS auction record: $281,750 for a PCGS MS64 sold by Bowers & Merena in August 2004

Final Thoughts

The 1916 Doubled Die Buffalo Nickel deserves more attention.

It is not just another Buffalo Nickel variety. Rather,  is one of the great doubled dies of 20th-century American coinage. Coin ranks among the most important five-cent rarities ever made for circulation.

Most collectors know the 1937-D 3-Legged Nickel. Many know the 1918/7-D. Yet the 1916 Doubled Die Obverse may tell the better story.

It began as a hidden die-making error at the Philadelphia Mint. It spent nearly half a century in circulation and collections. Then it emerged as the Buffalo Nickel series’ great doubled-die prize.

And somewhere, perhaps, one more example still waits in an old roll.