Liberty Head nickel

Liberty Head nickel. The Liberty Head nickel, also known as the V nickel, was a five-cent piece struck by the United States Mint from 1883 to 1913. It succeeded the Shield nickel and was itself replaced by the Buffalo nickel designed by James Earle Fraser. The coin is notable for its two distinct reverse types in its first year and for the famous, ultra-rare 1913 specimens struck under mysterious circumstances.

History

The coin was authorized under the Coinage Act of 1873, which ended the production of the half dime and established the nickel as a permanent fixture. Mint Director Horatio C. Burchard advocated for a new design to replace the long-running Shield nickel, which had posed technical challenges for the Philadelphia Mint. The task of designing the new coin was assigned to Charles E. Barber, the Chief Engraver of the United States Mint. A significant controversy erupted in 1883 when the first version, lacking the word "CENTS," was quickly altered after individuals, including a notorious Boston con man named Joshua Tatum, gold-plated them to pass as five-dollar gold pieces. This led to the United States Secret Service investigating the fraud and the Mint promptly adding "CENTS" below the V on the reverse.

Design

The obverse features a left-facing profile of Liberty, wearing a coronet inscribed with "LIBERTY," with her hair tied in a Greek-style knot. Thirteen stars, representing the original Thirteen Colonies, encircle the portrait, with the date positioned below Liberty's neck. The reverse of the 1883 "No CENTS" variety displays a large V (5) within a wreath of wheat, cotton, and corn, symbols of American agriculture. The modified reverse, used from mid-1883 onward, added the word "CENTS" below the V and the motto "E PLURIBUS UNUM" above it. The coin's composition of 75% copper and 25% nickel gave it a distinctive white color and durability.

Production and mintages

Regular production occurred primarily at the Philadelphia Mint, with additional coins struck at the San Francisco Mint and, from 1912, the Denver Mint. The lowest regular-issue mintage was the 1912-S, with just over 238,000 pieces struck, making it a semi-key date. The highest mintage occurred in 1911, with nearly 40 million coins produced at Philadelphia. Notably, no nickels of this design were officially minted in 1913, as the Mint had already prepared dies for the new Buffalo nickel. However, five specimens dated 1913 were later discovered, created surreptitiously, likely by Mint employee Samuel W. Brown.

Varieties and key dates

The two major varieties are the 1883 "No CENTS" and the 1883 "With CENTS" reverse. Key dates for collectors include the low-mintage 1885, 1886, and 1912-S issues. The 1913 Liberty Head nickel is the most famous and valuable, with only five known examples. These coins were first revealed by Samuel W. Brown at the American Numismatic Association convention in 1920 and have since become legends in numismatics, with one selling for over $3 million at a Heritage Auctions sale. Other notable varieties include the 1883/2 overdate and repunched mint marks on certain San Francisco Mint issues.

Counterfeits and alterations

Due to the value of key dates, the series is a frequent target for counterfeiters. Common forgeries involve altering common dates, like an 1883, to resemble the rare 1885 by tooling the last digit. The authentic 1913 specimens are all rigorously documented and have been extensively studied by experts from the Professional Coin Grading Service and the Numismatic Guaranty Corporation. Altered mint marks, particularly on 1912-D coins, are also prevalent. The original 1883 "No CENTS" coins were themselves used in fraud by being gold-plated, a practice that led to their nickname "Racketeer nickels" and prompted the design change.

Category:Coins of the United States Category:Nickel (United States coin)