Cut-out Buffalo Nickel-style pendant

This item is a circular pendant that appears to be fashioned from a modified United States five-cent coin, commonly referred to as a Buffalo Nickel. The central motif features a profile of an American bison, while the surrounding field of the coin has been physically removed or 'cut out' to create a silhouette effect, leaving the animal figure suspended within the original outer rim. At the bottom, the raised text 'FIVE CENTS' is clearly visible. A small metal jump ring has been attached through a hole drilled at the top of the rim to allow for suspension from a chain. The metal exhibits a dull, greyish-metallic luster and surface texture consistent with the copper-nickel composition found in circulating coinage, along with visible surface wear, scratches, and a dark patina in recessed areas. The style is consistent with amateur or folk-art jewelry making, likely from the mid-to-late 20th century. Because these items are often handmade by cutting legitimate coins, the attribution to a specific jeweler cannot be determined, and the presence of coin markings like 'FIVE CENTS' relates to the source material rather than the jewelry manufacturer.

Based on my visual analysis of the provided image, this pendant appears to be a folk-art jewelry piece fashioned from a United States Buffalo Nickel. I can observe what looks like a hand-cut silhouette of an American bison, with the 'FIVE CENTS' inscription retained at the base. While the metal exhibits the dull grey luster and wear typical of mid-20th-century copper-nickel coinage, I cannot confirm the metal composition or the date of the underlying coin without a physical inspection for weight and specific gravity. The value estimate is based on the assumption that this is a genuine circulation coin modified by an artisan; if the piece is a modern cast reproduction or made from base metals mimicking a coin, the value would likely drop below $10. Market demand for such ‘hobo nickel’ style jewelry is generally driven by collectors of numismatic curiosities and folk art rather than precious metal content. From what I can see, the craftsmanship is consistent with amateur or small-scale production, which limits its ceiling in a competitive market. Because markings on coins used as jewelry can be misleading regarding the jewelry's actual age or maker, this attribution remains a working hypothesis. To reach a more formal conclusion, an in-person examination would be required to verify the cutting techniques, check for potential hallmarks on the jump ring, and assess the surface patina for natural aging versus chemical acceleration. Current market trends suggest items of this type sell consistently at low price points as accessible Americana.