1913 Type 1 Proof

1,520 coins. That was the 1913 Type 1 proof mintage at Philadelphia, the inaugural proof pieces of James Earle Fraser's new design. The Type 1 proofs were produced using matte proof techniques, replacing the brilliant mirror proof format that had been standard for Liberty Head nickels. The matte proof finish featured satin-like fields with sharp device detail, producing a distinctive appearance that contrasted sharply with earlier and later proof styles.

The matte proof format was adopted for the new 1907 gold coins (Saint-Gaudens $10 and $20) and extended to other denominations including the Buffalo nickel at its 1913 introduction. Collectors accustomed to brilliant proofs found the matte format challenging to appreciate, and proof set sales for Buffalo nickels and other matte-finish coins remained lower than for brilliant proofs. The format was abandoned for the Buffalo nickel after 1916, though regular proof production would not resume until 1936.

The 1913 Type 1 proof is the rarest of the three 1913 proof varieties; Philadelphia only struck proofs, and no Denver or San Francisco proofs exist. Surviving populations are limited, and high-grade examples command significant premiums. The coin is a required entry in complete Buffalo nickel proof sets and is particularly prized for its combination of first-year-of-issue status, distinctive matte finish, and scarcity.