While the Great Depression was still casting a shadow over the United States, economic conditions had begun to stabilize, and the need for new coinage had grown. While the United States Mint had halted the production of every denomination, except the cent, for at least one year during the period 1931 through 1933, coin minting was in full swing again in America during 1934. Buffalo nickels were made in quantities close to 1930 levels, with around 27 million minted during 1934.
San Francisco was not involved in the production of Buffalo nickels in 1934, so all nickel manufacturing duties fell on the shoulders of the Philadelphia and Denver mints. Philadelphia carried most of the production that year, making 20,213,003 nickels in 1934; Denver struck 7,480,000. Neither of these two issues are considered scarce, and either can be bought for as little as $2 in Good to Very Good grades. In Mint State 60, the 1934 will set coin collectors back about $50 while the 1934-D has a price tag of around $80 to $100 in that grade.
While Buffalo nickels from the 1930s are generally not as poorly struck as those from the 1920s, it still pays to cherrypick when buying any Buffaloes; the entire series contains weakly struck issues, and all well-struck Buffalo nickels are worth a premium. So, be sure to take your time and look for Buffalo nickels that have a full horn on the bison and display clear and vivid detail overall.