Greysheet Catalog Details (GSID: 72360)
The first several million Buffalo nickels struck at the Philadelphia, Denver, and San Francisco Mints feature the bison on the reverse of the coin standing upon a mound. While this version of the reverse design is considered quite beautiful by many numismatists, a major concern with this particular iteration of the design was the physically high, or proud, location of the inscription FIVE CENTS. The denominational inscription was recessed midway through 1913 to reduce the chance that it would be worn off the coin through daily use (as commonly happened to the date on the obverse of the Buffalo nickel). To accommodate this significant design change, the reverse was modified in such a way that the Buffalo stands above a horizontal line.

These changes created two major varieties in the Buffalo nickel series, with the mound reverse denoted as Type 1 and the line motif as Type 2. As a class, Type 1 Buffalo nickels are generally much scarcer than Type 2 issues, minted from mid 1913 through 1938. This is particularly true for the mintmarked Type 1 specimens.
Obverse: James Earle Fraser's famous and simple design depicts a Native American chief with the word LIBERTY from 1-2 o'clock. The date is placed on the lower left of the chieftain's bust.
Reverse: A full portrait of the bison, Black Diamond, with the words UNITED STATES oF AMERICA at the top periphery with the motto E PLURIBUS UNUM just underneath. The denomination FIVE CENTS is spelled out at the bottom. For the Type 1, the denomination is embossed on raised ground.

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