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The 1938-D/D Buffalo Nickel is worth anywhere from $25 in circulated condition to over $1,500 in high-grade mint state. This popular “re-punched mint mark” variety is a favorite among collectors because it represents the final year of the iconic Buffalo design and features a distinct minting error that is visible to the naked eye.
| Condition / Grade | Estimated Value (USD) |
|---|---|
| Good (G-4) to Fine (F-12) | $20 – $35 |
| Extremely Fine (EF-40) | $45 – $60 |
| Uncirculated (MS-63) | $85 – $110 |
| Gem Mint (MS-66+) | $450 – $1,500+ |
Why the 1938-D/D Buffalo Nickel Variety is Special
If you’ve recently inherited a coin collection or found an old nickel in a drawer, you might be holding a piece of American history. The 1938-D Buffalo Nickel is unique because it was the last year the U.S. Mint produced James Earle Fraser’s famous design. While most 1938 nickels were minted in Denver, a significant number of them feature a “Re-punched Mint Mark” (RPM), labeled by collectors as the D/D variety.
To determine if your coin is the valuable error version, many enthusiasts use a top coin identifier app to zoom in on the mint mark located on the reverse side. This variety was caused when the mint worker struck the letter “D” into the die twice, with the second strike slightly offset from the first.
This error makes the 1938-D/D Buffalo Nickel value significantly higher than the standard 1938-D nickel. For those new to the hobby, using the CoinKnow app can help you distinguish between a standard strike and this sought-after variety by providing high-resolution comparison images.
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How to Identify the 1938-D D Over D Mint Mark
Identifying the 1938-D/D error requires a close look at the “D” mint mark located under the words “FIVE CENTS” on the back of the coin. You aren’t looking for a mistake made during the coining process, but rather an error on the die itself. If you see a clear “shadow” or secondary lines inside or outside the primary “D”, you likely have the variety.
There are actually several different RPM (Re-punched Mint Mark) variations for this year. Some show the D tilted, while others show a D struck over an S (the famous D/S variety). However, the D/D is particularly popular because it is very clear on high-grade specimens.
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If you aren’t sure what you’re looking at, CoinKnow allows you to snap a photo and get an instant AI-driven analysis of your coin’s features. This helps beginners avoid the frustration of squinting through a cheap magnifying glass.
Grading and 1938-D Buffalo Nickel Value Factors
The condition, or “grade,” of your coin is the most important factor in determining how much a collector will pay. Because 1938 was the final year of the series, many people saved these coins in Uncirculated condition, meaning high-grade examples are more common than for older dates like the 1913 or 1921.
Your Old Coin Could Be Valuable!
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However, the 1938-D/D variety is rarer than the standard strike. Professional services like PCGS or NGC grade coins on a scale from 1 to 70. A coin with almost no wear is “Mint State” (MS). You can find updated current 1938-D Buffalo Nickel auction prices for these top-tier grades online.
| Grade Detail | Visual Characteristics | Estimated Price |
|---|---|---|
| Fine (F12) | Heavy wear, but horn and tail are visible. | $25 |
| Choice AU (AU55) | Very light wear on the buffalo’s shoulder. | $65 |
| Mint State (MS65) | Full luster, no wear, sharp details. | $225 |
| Superb Gem (MS67) | Perfect strike, intense shine, rare. | $1,200+ |
Market Trends for the 1938-D/D Re-punched Mint Mark
The market for Buffalo Nickels remains one of the strongest in the coin-collecting world. Because the design is so “American” and the era of the Old West is so captivating, new collectors enter this market every day. The 1938-D/D is considered an “essential” variety for anyone trying to complete a full set of Buffalo Nickels.
Values have remained steady over the last decade, with a slight uptick in the price of “Gem” quality coins. If you are curious about your specific coin, you can check 1938 Buffalo Nickel pricing and rarity data to see how the D/D compares to other coins in the series.
Your Old Coin Could Be Valuable!
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Many experienced numismatists recommend using CoinKnow to track your collection’s value over time. As hobbyist interest in error coins grows, the premium for verified 1938-D/D specimens continues to outpace the rate of inflation.
The Difference Between 1938-D/D and 1938-D/S
It is easy to get confused when looking at the 1938 Denver nickels because there are two major re-punched varieties. One is the D struck over another D (D/D), and the other is the D struck over an S (D/S). The D/S variety occurred because the Denver mint used dies that were originally intended for the San Francisco mint.
From a value perspective, the D/S is generally slightly more valuable in higher grades because of the “drama” of two different mints being involved. However, the D/D is arguably more difficult to find in perfect condition. Both varieties command a massive premium over the standard single-D strike.
When examining your coin, look for horizontal or vertical lines that don’t belong to the letter D. A D/D often looks like a thicker-than-normal letter, or you may see a “split serif”—small clefts at the top or bottom corners of the letter. This level of detail is exactly what makes these coins so fascinating to study.
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Where to Sell Your 1938-D/D Buffalo Nickel
Once you’ve confirmed you have the 1938-D/D variety, you might wonder how to turn it into cash. For coins valued under $100, local coin shops or online marketplaces like eBay are usually the best bet. For high-grade coins (MS65 and above), it is worth getting the coin professionally graded before selling.
A certified coin in a plastic “slab” from PCGS or NGC will always sell for more than a “raw” coin because the buyer has a guarantee of authenticity. Professional grading ensures you get the maximum 1938-D/D Buffalo Nickel value based on its true condition.
Before you sell, make sure to clean nothing! Rubbing a coin with a cloth or using chemical cleaners can destroy its value instantly. Collectors prefer “original skin,” which is the natural patina or luster the coin developed over the last 80+ years.
| Sales Channel | Best For… | Pros/Cons |
|---|---|---|
| Local Coin Shop | Quick cash / evaluation | Convenient, but offers may be lower than market. |
| Online Auctions | Uncirculated coins | High exposure, but involves fees and shipping. |
| Major Auction Houses | Rare MS67+ Varieties | Highest possible price, but long wait times. |
FAQ
Q: How can I tell if my 1938-D nickel is the D/D variety?
A: You will need a magnifying glass (preferably a 10x jeweler’s loupe). Look at the “D” on the back of the coin. If you see remnants of another “D” either inside the loop or slightly offset to one side, it is likely the variety. Using the CoinKnow app’s identification tool is the easiest way for beginners to check.
Your Old Coin Could Be Valuable!
Identify It & Know Its Real Value — Free Download
Q: Is a 1938-D Buffalo Nickel rare?
A: The standard 1938-D is relatively common because it was the last year of the series and many were saved. However, the D/D and D/S re-punched varieties are much rarer and command a significant premium over the “common” versions.
Q: Should I clean my 1938-D/D Buffalo Nickel to make it worth more?
A: Absolutely not. Cleaning a coin with soap, water, or polish will scratch the surface and remove the “luster.” A cleaned coin is generally worth 50% less than an uncleaned one in the same condition. Collectors value the natural aging process.
Q: Where is the mint mark on a 1938 Buffalo Nickel?
A: The mint mark is located on the reverse (tails) side of the coin. Look directly beneath the words “FIVE CENTS” and the buffalo’s mound. If there is a “D,” it was minted in Denver. If there is no letter, it was minted in Philadelphia (which didn’t make Buffalo Nickels in 1938—so every 1938 Buffalo should have a D!).