Imagine finding a fortune in an old coat pocket. That’s exactly what happened to a Michigan family who discovered a Buffalo Nickel worth $5.2 million while sorting through their late grandfather’s belongings. This incredible story feels like something out of a treasure-hunting movie.
A Surprise in a Dusty Coat
James Callahan, a Detroit resident, was going through his grandfather’s possessions after his passing. While rummaging through an old wool coat likely untouched since the 1960s he felt something small in a pocket. It was a worn coin, showing a Native American on one side and a buffalo on the other. At first, it seemed like just an old nickel. But that night, curiosity prompted James to research it online. “I thought it was just some change from the 30s or 40s,” he said. “But the design looked unique, older somehow.”
The Ultra-Rare 1913 Liberty Head Nickel
What James found was no ordinary coin it was a 1913 Liberty Head/Buffalo Nickel, one of only five known to exist. This coin is a legend among collectors, often called a “white whale” for its rarity and mysterious origins. Experts believe it was struck at the Philadelphia Mint under unofficial circumstances, never intended for circulation, which only adds to its allure and value.
From Pocket to Millions
After experts verified the coin’s authenticity, a top auction house stepped in. At a private, invitation-only auction, a California buyer paid $5.2 million for the nickel, ranking it among America’s most valuable coins, alongside the likes of the 1933 Double Eagle. The sale turned a forgotten keepsake into a life-changing windfall.
A Family Legacy
For James, the discovery carries deep personal meaning. “It’s unreal that something in my grandpa’s coat for decades changed our lives,” he said. “He lived through the Depression and never threw anything away. Who knew he was holding onto millions?” The family plans to create a trust with some of the proceeds to honor their grandfather’s legacy for future generations.
Why Buffalo Nickels Fascinate Us
Minted from 1913 to 1938, the Buffalo Nickel also known as the Indian Head Nickel is an American classic. Designed by James Earle Fraser, it features a Native American portrait (inspired by several chiefs) and a bison, said to be modeled after Black Diamond from the Central Park Zoo. Rare varieties, like the 1913 Liberty Head or the 1937-D “three-legged” error, are prized by collectors. Stories like this one inspire everyone to check their own coin jars for hidden treasures.
Your Questions Answered
What’s a Buffalo Nickel?
It’s a five-cent coin minted from 1913 to 1938, with a Native American on the front and a bison on the back.
Why was this nickel worth $5.2 million?
Likely a 1913 Liberty Head Nickel, it’s one of the rarest coins, with only a few in existence. Its pristine condition and historical mystery make it a collector’s gem.
How do I know if my Buffalo Nickel is valuable?
Look for:
- Mint Year: Rare years like 1913 (Type 1), 1916 doubled die, or 1937-D “three-legged.”
- Mint Mark: Check under “FIVE CENTS” on the back.
- Condition: Clear details and minimal wear increase value.
- Errors: Missing legs, doubled designs, or off-center strikes are key.
What’s the “three-legged” Buffalo Nickel?
A 1937-D error coin where the buffalo appears to have three legs due to a minting flaw. It’s extremely rare and valuable.
A Lesson in Hidden Treasures
This remarkable find shows that history can hide anywhere an attic, a drawer, or even a coat pocket. If you have old coins or heirlooms, take a closer look. What seems ordinary might just be a piece of history worth millions.