1916 Proof

600 coins. The 1916 proof had the lowest mintage in the matte proof sub-series and closed out matte proof Buffalo nickel production entirely. The low figure reflected continued collector resistance to the matte format, and the Mint ultimately discontinued matte proof Buffalo nickel production after 1916. No further Buffalo nickel proofs would be produced until 1936, when the Mint revived proof coinage with new brilliant and satin formats.

The 1916 proof is the rarest of the matte proof Buffalo nickels and one of the scarcest coins in the entire Buffalo proof series. Surviving populations are very limited, and high-grade examples (PR65 and above) command four- and five-figure prices at major auctions. The coin is a required acquisition for advanced Buffalo nickel proof collectors and the most challenging matte proof date to acquire.

The decision to end matte proof production reflected multiple factors: soft collector demand for the format, the higher production costs compared to brilliant proofs, and changing Mint priorities as the country moved toward World War I entry. The 1916 proof is the terminal piece of the early Buffalo nickel proof sub-series and marks the end of an interesting but commercially unsuccessful experiment in American proof coinage aesthetics.