David Hall: The reverse design of the 1913 Type I Buffalo nickel caused the denomination "FIVE CENTS" to wear off quickly. So the mint rightfully changed the design mid-year and placed the "FIVE CENTS" in a recess below the Buffalo, thus creating the 1913 Type II Buffalo nickel. The 1913 Type II Philadelphia Buffalo nickel is a high mintage coin that is fairly available in all grades. In mint state condition, though not rare in an absolute sense, the 1913 Type II is much rarer than the 1913 Type I.
The 1913 Type II is usually well struck. Luster is usually either satin grey or slightly frosty.