The 1928-S Buffalo Nickel is worth anywhere from $1.50 in heavily worn condition to over $2,000 or more in mint state, making it one of the more interesting finds from the late 1920s series. If you pulled one of these out of an old jar or inherited a coin collection, you’re in the right place — let’s break down exactly what you’ve got.
What Makes the 1928-S Buffalo Nickel Special
The 1928-S Buffalo Nickel was struck at the San Francisco Mint, which is indicated by the small “S” mintmark found on the reverse side of the coin, just below the words “FIVE CENTS.” In 1928, three mints were producing Buffalo Nickels — Philadelphia (no mintmark), Denver (D), and San Francisco (S). The San Francisco issue had a lower mintage than Philadelphia, which generally pushes values a bit higher for well-preserved examples.
The Buffalo Nickel design itself — also called the Indian Head Nickel — was created by sculptor James Earle Fraser and is one of the most beloved American coin designs ever made. It features a Native American portrait on the obverse and an American bison (often called a buffalo) on the reverse.
If you’re not sure which mint your coin came from or want to quickly identify and grade what you have, using a coin identifier and value app can save you a lot of time and guesswork. These tools have gotten remarkably accurate in recent years.
1928-S Buffalo Nickel Value by Grade
Coin value comes down almost entirely to condition, or “grade” in collector speak. A coin that has been circulated heavily — rubbed smooth, with the date barely readable — is worth very little. But a coin that somehow avoided circulation and still shows sharp details can be worth serious money.
Here’s a general value guide for the 1928-S Buffalo Nickel:
| Grade | Description | Estimated Value |
|---|---|---|
| Good (G-4) | Date visible, heavy wear | $1.50 – $3 |
| Fine (F-12) | Moderate wear, design clear | $8 – $15 |
| Extremely Fine (EF-40) | Light wear, sharp details | $40 – $80 |
| About Uncirculated (AU-55) | Slight wear on high points | $120 – $200 |
| Mint State (MS-63) | No wear, minor marks | $400 – $700 |
| Mint State (MS-65+) | Gem quality, near perfect | $2,000+ |
For the most current auction data and certified coin prices, you can check out detailed 1928-S Buffalo Nickel MS grade price records that track real sales across major platforms.
How to Check the Condition of Your Coin
You don’t need to be a professional numismatist to get a rough idea of your coin’s grade. Start by looking at the high points of the design — the cheekbone of the Native American on the front and the buffalo’s shoulder on the back. These are the first areas to show wear.
If both areas are completely flat and featureless, your coin is likely in Good to Fine condition. If you can still see some hair strands or fur texture, you’re looking at a Fine to Extremely Fine example. And if the coin looks like it was never used at all — bright, sharp, with original luster — you might have something that’s worth getting professionally graded.
CoinHix is a great tool here. You can scan your coin with the app and it will give you an instant value estimate and condition assessment based on photos. It’s free to try and surprisingly accurate, especially for common series like Buffalo Nickels.
Where to Sell a 1928-S Buffalo Nickel
If you’ve decided your coin is worth selling, you’ve got several options. eBay is the most accessible marketplace, and you can see completed sales to get a real sense of what buyers are paying right now. Heritage Auctions and Stack’s Bowers are better options for higher-grade coins worth $200 or more — they’ll attract serious collectors.
Local coin shops are convenient but often offer 50–60% of retail value since they need room to profit on resale. For a coin in average circulated condition, that might mean a few dollars. For a gem-quality example, a coin shop or auction house is definitely worth the extra step.
Before you sell, it’s worth reviewing a full breakdown of 1928 Buffalo Nickel values across all grades and mintmarks so you know exactly what you’re working with before negotiating.
CoinHix also has a marketplace feature that connects sellers directly with collectors, which can help you get closer to full retail value without the fees of major auction houses.
Is Your 1928-S Buffalo Nickel Worth Grading?
Professional grading through PCGS or NGC costs between $30 and $50 per coin on average. It only makes financial sense if your coin is worth $150 or more in its current state. For circulated examples worth just a few dollars, grading isn’t worth it.
If you think you have a mint state or near-mint 1928-S, professional grading can actually increase the coin’s value significantly by certifying its authenticity and condition. A graded MS-65 coin in a slab will almost always sell for more than the same coin raw (ungraded).
When in doubt, snap a photo and run it through CoinHix — it’s the quickest way to get a second opinion before spending money on professional services.
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FAQ
Q: How do I know if my coin is the 1928-S and not the Philadelphia or Denver version?
A: Look at the reverse side of the coin, just below “FIVE CENTS.” If you see a small “S,” it’s the San Francisco mint. A “D” means Denver. No mintmark at all means it came from Philadelphia.
Q: My 1928-S Buffalo Nickel has a worn date — is it still worth anything?
A: Yes, even coins with partially visible or worn dates have some value, typically $1 to $3 in the current market. Collectors and dealers still buy them for type sets or bullion-style collections.
Q: What’s the rarest Buffalo Nickel from 1928?
A: Among the three 1928 issues, the Denver mint (1928-D) had the lowest mintage at around 6.4 million coins, making high-grade examples particularly sought after. The 1928-S had a mintage of about 6.9 million, also on the lower side.