Please check your coin again. It says FIVE CENTS under the buffalo so it's a nickel rather than a penny, and is called either an Indian head nickel or a buffalo nickel; both names are equally common. There's more information at the Related Question.
There is no such thing as a 1906 Indian head nickel(*). The first nickel with that design was issued in 1913. The previous design is called a Liberty nickel; you can find a list of prices at the attached link.
Please check your coin again and post a new question. Buffalo nickels were made from 1913 to 1938, and were never struck in silver. A 1906 nickel would be called a Liberty Head nickel, and like all nickels except the famous "war nickels" of 1942-45, it's made of an alloy of copper and nickel, hence the name "nickel".
Buffalo nickels were made from 1913 to 1938. Please check your coin again and post a new question.
The value of the 1906 V nickel varies greatly depending on the condition of the coin. This nickel can be worth as much as about 4 dollars depending on its definition.
Buffalo Electric Vehicle Company was created in 1906.
There's no such thing as a "wheat nickel", only wheat-back cents. A 1906 nickel would be a Liberty Head nickel, with a picture of Miss Liberty on the front and a large V (the Roman numeral for 5) on the back.
1906 is a common date for Liberty Head nickels, most circulated coins are valued at $1.00-$3.00
It's a Liberty Head Nickel the date 1906 is very common, values are at $2.00-$5.00 for average coins
In good condition about $2.00
Must be appraised by a professional.
The first two coins cannot exist, because buffalo nickels were minted from 1913 to 1938, but none were produced in 1932 or 1933 due to the Great Depression. For information about the silver certificate please see the Related Question.
Additional information is necessary to properly value your rifle. There were two models available in the Winchester Model 1906. One had a straight stock and the other had a pistol grip stock and was called a Model 1906 Expert. Which one do you have? Also, you did not say, if your rifle was partially trimmed in nickel or was fully nickel trimmed?