1934

Buffalo nickel production resumed in 1934 after a two-year hiatus. 1932 and 1933 saw no Buffalo nickel production at any mint, the only Depression-era gap in the series. Philadelphia delivered 20,213,003 coins in 1934, restoring nickel supply after the forced production break. The coin is common in all grades and readily available in Mint State.

Strike characteristics for 1934 Philadelphia coins are generally strong, reflecting well-maintained dies and careful press operation during the production resumption. Gem-quality examples exist in adequate numbers for specialist demand at modest premiums. The 1934 is a typical resumption-year Buffalo nickel without unusual features for collectors.

1934 was a year of significant New Deal policy implementation under President Franklin D. Roosevelt. The Emergency Banking Act had stabilized the banking system in 1933, and by 1934 the Civil Works Administration, Public Works Administration, and other agencies were putting Americans back to work. The gold standard had been effectively abandoned, with Roosevelt devaluing the dollar relative to gold and calling in private gold holdings. The Buffalo nickels struck in 1934 entered a monetary system being fundamentally restructured, though the nickel itself (made of copper-nickel alloy) was unaffected by the gold policy changes.