You probably remember the first time you saw one of these in your change. It felt weird. For decades, the Jefferson nickel was the most boring coin in your pocket—just Thomas Jefferson's profile on the front and his house, Monticello, on the back. Then 2005 happened. Suddenly, there’s this massive, aggressive-looking bison standing on the reverse. It wasn't just a gimmick. The 2005 nickel with buffalo was part of the United States Mint's "Westward Journey" series, celebrating the bicentennial of the Louisiana Purchase and the Lewis and Clark expedition.
People went nuts. I remember folks at the bank literally buying out rolls of nickels hoping to find a "rarity" that didn't exist yet. Most of those people were disappointed because the Mint struck over 900 million of them. That's a lot of metal. But here’s the thing: most of those coins are worth exactly five cents. If you want to find the ones that actually pay for a nice dinner (or a used car), you have to know where the Mint messed up.
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Why the 2005 nickel with buffalo exists
The U.S. Mint didn't just wake up and decide to bring back the buffalo. From 1913 to 1938, the original Buffalo Nickel (actually an American Bison) designed by James Earle Fraser was a staple of American currency. It’s iconic. It’s gritty. It feels like the frontier.
To honor the 200th anniversary of the Lewis and Clark expedition, the Mint launched the Westward Journey series in 2004. In 2005, they gave us two distinct designs. The first was the "American Bison" and the second was the "Ocean in View" (which famously features the quote "Ocean in view! O! The joy!").
While the 2004 versions kept the old Jefferson portrait, the 2005 nickels introduced a new, close-up "cursive" style portrait of Jefferson designed by Joe Fitzgerald. Honestly, it was a bold move. It made the coin look modern. But the star of the show was that bison on the reverse, designed by Jamie Franki. It wasn't the calm, standing-on-a-mound buffalo of the early 1900s. This one looked like it was charging. It was alive.
The "Speared Buffalo" error that everyone wants
Let’s talk about the Spear.
If you are hunting through a jar of change for a 2005 nickel with buffalo, this is the holy grail. It’s not a design choice. It’s a mistake. Specifically, it’s a die gouge.
During the minting process at the Denver Mint (look for that little 'D' on the front), a piece of debris or a deep scratch damaged the die used to strike the coins. This resulted in a literal line that runs vertically through the middle of the buffalo’s back. It looks exactly like a spear or an arrow is piercing the animal from the top down.
It’s rare. Really rare.
Back in the mid-2000s, these were selling for hundreds of dollars immediately. Today, a Speared Buffalo nickel graded by a service like PCGS (Professional Coin Grading Service) or NGC can still command anywhere from $100 for a circulated version to over $1,000 for a pristine, "Mint State" specimen. In 2021, a high-grade MS66 specimen sold for over $2,500 at auction.
Don't get tricked, though. There are plenty of "scratched" nickels out there. A real Speared Buffalo has a raised line—meaning the metal was pushed into a gap in the die. If the line is sunken into the coin, it's just damage from a vending machine.
Condition is everything (and "Full Steps" matter)
Most 2005 nickels you find in the wild are "circulated." They’ve been touched by thousands of hands. They’ve sat in cup holders. They’ve been dropped on pavement.
Coins like that are worth five cents.
To get the big bucks, you need a coin that looks like it just popped out of the machine. Collectors use a 70-point scale. A "perfect" coin is an MS70. Most 2005 nickel with buffalo examples you find in rolls might hit an MS63 or MS64. But once you hit MS66 or MS67, the price jumps exponentially.
Why? Because the 2005 strikes were notoriously "mushy." The dies were used for too long, or the pressure wasn't quite right, so finding a sharp, crisp strike is surprisingly difficult.
There's also the "Full Steps" factor. On the reverse of some nickels, you look at the building. But since this has a buffalo, we look at the details of the fur and the horns. If the buffalo has a sharp, clear eye and distinct "wool" on its head, you’re in business. For the 2005 nickels, collectors also look for "Satin Finish" versions. These weren't meant for circulation. They were part of special Uncirculated Coin Sets sold by the Mint. They have a smooth, matte-like appearance and are much harder to find in the wild because someone usually has to break open a collector's set to spend them.
The Philadelphia vs. Denver divide
Check the mint mark. It’s on the obverse (the heads side), right next to the year 2005.
You’ll see a 'P' for Philadelphia or a 'D' for Denver.
Historically, the Denver Mint produced slightly more of these.
Philadelphia: 448,320,000
Denver: 487,680,000
While the numbers are close to half a billion each, the Denver coins are generally the ones where the Speared Buffalo error occurs. If you have a 'P' mint mark, you won't find the spear. You might find other errors, like "clashed dies" (where the images of both sides slightly overlap) or "off-center strikes," but the legendary spear is a Denver-only phenomenon.
How to spot a fake or a dud
You’ve gotta be careful. The coin world is full of people trying to make a quick buck.
One common thing people see on the 2005 nickel with buffalo is what they think is an "extra leg." This was a famous error on the original 1937-D Buffalo Nickel. It doesn't really happen on the 2005 version in the same way. People see a small scratch near the leg and think they've hit the jackpot.
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Another common mistake is confusing the "Satin Finish" with a regular coin that's just been polished. If a coin looks unnaturally shiny—like a mirror—someone probably used a chemical cleaner or a cloth on it. To a collector, a cleaned coin is worth significantly less than an ugly, dirty one. Never, ever clean your coins. You will strip the original "luster" (that cartwheel of light that dances on the surface) and kill the value instantly.
Real-world values: What can you actually get?
Let's get real for a second. If you have a handful of these from your change jar, they are worth $0.05.
However, if you have a roll of them that has been sitting in a drawer since 2005, you might have something.
- Uncirculated Roll (40 coins): Usually sells for $5 to $15 depending on the mint mark and the condition of the wrapper.
- MS67 Certified Regular Strike: Can fetch $50 to $100.
- MS65 Speared Buffalo: Frequently sells for $200 to $400.
- Speared Buffalo in MS66 or higher: These are the "auction house" coins. $1,000 to $2,000+.
The market for modern nickels is volatile. It’s not like gold or silver. The value is driven entirely by "registry set" collectors—people who are trying to build the highest-rated collection of Jefferson nickels in existence. They need that 1-of-100 perfect coin to beat the competition, and they will pay a premium for it.
The hunt: Where to look now
So, you want to find one?
The best way isn't looking through your pocket change. It's "roll hunting." Go to your local bank. Ask for a box of nickels ($100). Spend your weekend opening them. It’s tedious. Your hands will smell like copper and nickel. You’ll probably find a lot of 2024 and 2025 coins.
But every now and then, you’ll find a 2005-D that looks brand new. Maybe it was tucked away in a piggy bank for twenty years. Grab a magnifying glass (a 10x loupe is the industry standard). Check the buffalo's back. Look for that vertical line.
Check the "Ocean in View" nickels from the same year, too. While they don't have a "spear," they have their own set of errors like doubled dies (where the lettering looks like it was stamped twice).
Actionable steps for your 2005 nickel
If you think you’ve found a winner, don't just put it back in your pocket.
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First, get some "non-PVC" coin flips. These are little plastic holders that keep the coin from getting scratched. Don't use the ones with PVC; they’ll turn your coin green and sticky over time.
Second, compare your coin to high-resolution photos on the PCGS "CoinFacts" app. It’s free. It lets you see what a $1,000 nickel actually looks like compared to a 5-cent one.
Third, if you’re convinced you have a Speared Buffalo or a perfect MS67, don't go to a pawn shop. They’ll give you fifty cents. Go to a reputable local coin dealer or look into submitting it to PCGS or NGC for grading. It costs about $20-$50 plus shipping to get a coin graded, so only do this if the coin is genuinely in spectacular condition or has a clear, visible error.
The 2005 nickel with buffalo remains one of the most popular "modern" coins for a reason. It's a bridge between the old-school history of the American West and the modern era of minting. Even if yours isn't worth a fortune, it's a cool piece of history to hold onto. Keep an eye on those Denver mint marks. You never know when a spear might be hiding in your laundry money.
Next Steps for Collectors
- Verify the Mint Mark: Locate the 'D' (Denver) or 'P' (Philadelphia) on the obverse. Remember, the Speared Buffalo is only found on Denver strikes.
- Use a 10x Loupe: Inspect the area between the buffalo’s back and the "E" in "E PLURIBUS UNUM." A genuine Speared Buffalo error is a raised line, not a scratch.
- Check the Luster: Look for the "cartwheel" effect when rotating the coin under a single light source. If the light doesn't move in a circle, the coin is likely too circulated for high-value grading.
- Research Recent Sales: Check eBay "Sold" listings (not "Asking" prices) for "2005-D Speared Buffalo" to see what people are actually paying this month.