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| nickel (United States coin) | |
|---|---|
| Name | Nickel (United States coin) |
| Denomination | 5 cents |
| Country | United States of America |
| Value | 0.05 United States dollar |
| Mass | 5.000 g (since 1866) |
| Diameter | 21.21 mm |
| Composition | 75% copper, 25% nickel (current) |
| Years of minting | 1866–present |
| Obverse | Thomas Jefferson (current) |
| Reverse | Monticello (until 2004); various designs (2004–2006); return to Monticello (2006–present) |
nickel (United States coin) is the five-cent coin issued by the United States Mint and commonly used in transactions. Introduced in the 1860s, it has undergone multiple design, compositional, and issuance changes tied to figures and institutions such as Abraham Lincoln, Ulysses S. Grant, Thomas Jefferson, Franklin D. Roosevelt, and facilities like the United States Mint branches. The coin has intersected with events including the American Civil War, World War I, World War II, and the United States Bicentennial commemoration.
The nickel's lineage traces to early proposals by politicians including Salmon P. Chase and Congress of the United States debates after the American Civil War. In 1866 Congress authorized a five-cent nickel composition to replace the half dime and respond to coin shortages cited by Treasury Department (United States) administrators and financiers like Jay Cooke. The 19th-century era featured issues reflecting influence from designers such as James B. Longacre and circulation patterns influenced by markets in New York City and Philadelphia, Pennsylvania. During the Free Silver movement debates and monetary controversies involving figures such as William Jennings Bryan, nickel coinage remained a metal-policy focal point. Wartime exigencies in World War II prompted the War Production Board and Franklin D. Roosevelt administration to authorize alternative alloys for the 1942–1945 wartime nickels, impacting mintage at facilities including the Denver Mint and the San Francisco Mint.
Designs have honored statesmen and landmarks connected to institutions such as Monticello and the University of Virginia. Early designs include the Shield nickel by James B. Longacre, later replaced by the Liberty Head type influenced by aesthetic trends championed by sculptors and artists associated with institutions like the National Academy of Design. The modern obverse features Thomas Jefferson by sculptor Felix Schlag influences and later adaptations by United States Mint sculptors, while reverses have depicted Monticello, presidential commemoratives, and subjects from the Lewis and Clark Expedition commemorations. Compositionally, the standard alloy since postwar policy debates is 75% copper and 25% nickel, a specification guided by legislative acts enacted by United States Congress and technical standards developed at the United States Mint.
Production has occurred at multiple United States Mint facilities including Philadelphia Mint, San Francisco Mint, Denver Mint, and historical branch operations at Charlotte Mint and New Orleans Mint. Minting processes evolved from manual dies and hammering to industrial coinage machinery introduced by firms linked to E. Remington and Sons and later automated equipment used under directors like Frank A. Leach. Mintmarks (P, D, S) reflect facility provenance, with 20th-century changes recorded in annual mintage reports overseen by Secretaries of the Treasury such as Alexander Hamilton's institutional legacy. Special struck varieties, proof sets, and circulation strikes were distributed through channels like the United States Bullion Depository policies and collector programs administered by the American Numismatic Association.
Notable varieties include the Shield nickel, Liberty Head nickel, Jefferson nickel, wartime silver alloy nickels (with mintmarks in large mintmarks on the reverse), and the 2004–2006 Westward Journey series commemorating Lewis and Clark Expedition with designs referencing Meriwether Lewis and William Clark. The Franklin Roosevelt-era and Bicentennial commemorations influenced collector demand similar to patterns seen with Lincoln cent and Mercury dime commemoratives. The 1913 Liberty Head nickel, tied to clandestine minting and collectors such as Samuel Brown, achieved near-mythic status in numismatic circles, with transactions involving dealers like B. Max Mehl and auctions at houses like Sotheby's and Stack's Bowers. Modern special issues include proof sets and mint-state examples certified by organizations such as Professional Coin Grading Service and Numismatic Guaranty Company.
Nickels circulate widely in retail transactions in urban centers such as Chicago and Los Angeles and are used in vending machines adapted by manufacturers influenced by standards from trade associations. Postal rate structures set by the United States Postal Service and fare systems in transit agencies like Metropolitan Transportation Authority have shaped usage patterns. Currency policy debates in the United States Congress and recommendations from economic policymakers, including Treasury studies, have examined retention versus replacement with alternative denominations, referencing precedents like the withdrawal of half cent coinage.
Numismatic value depends on date, mintmark, condition graded by services such as Professional Coin Grading Service and auction results from houses like Heritage Auctions and Stack's Bowers. Key dates include early Shield and Liberty Head issues, the 1913 Liberty Head rarities, and mint errors sought by collectors affiliated with clubs including the American Numismatic Association and dealers in cities such as Baltimore and Boston. Market valuation reflects dynamics on exchanges like those managed by NASDAQ-listed dealers and private sales; insurance and estate considerations often reference catalogs like those published by Whitman Publishing.
The nickel intersects with cultural touchstones involving presidents like Thomas Jefferson and historic sites like Monticello, appearing in museum exhibits at institutions such as the Smithsonian Institution's numismatic collections. Economic analyses by scholars at universities including Harvard University, Columbia University, and Yale University have examined seigniorage, production cost, and inflationary implications. Debates over coin composition and retention have engaged lawmakers and interest groups appearing before committees such as the United States House Committee on Financial Services and have featured in media outlets headquartered in New York City and Washington, D.C..
Category:United States coins