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The Liberty Head nickel, sometimes referred to as the V nickel because of its reverse design, was introduced in 1883. The earliest versions were produced without the words “Five Cents” on the reverse. Enterprising individuals took advantage of this omission by gold-plating the coins, adding reeding to the edges, and passing the coins off as a new $5 Half Eagle. These became known as "Racketeer" Nickels. True "Racketeer" Nickels should be in very high grade and the edge should be reeded (this was done by hand to mimic the edge reeds on a gold piece). The Mint quickly remedied the situation by adding “FIVE CENTS” to the reverse of the coin later in 1883.
Beginning in 1911, the Mint began work to replace the Liberty head design, and a new design, which became known as the Buffalo nickel, went into production in February 1913.
Although no 1913 Liberty head nickels were officially struck, five are known to exist. While it is uncertain how these pieces originated, they have come to be among the most expensive coins in the world. In 1972, one specimen of the five cent coin became the first coin to command a price of US$100,000; in 1996, another specimen became the first to break the million-US$ barrier. In 2003 one coin was sold for under three million dollars. In 2010, the Olsen piece sold for US$3.7 million at a public auction. Only five examples are known to exist: two in museums and three in private collections.
Engraver: Charles Edward Barber
Obverse
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Liberty, wearing a coronet and wreath, facing left, and the 13 stars of the original union. LIBERTY |
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Reverse
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Roman numeral V, for 5, indicating the denomination, surrounded by a wreath. UNITED STATES OF AMERICA |
Edge |
5 Cents
Liberty Head Nickel, With CENTS
KM# 112
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Characteristics
Material | Cupronickel |
Weight | 5 g |
Diameter | 21.2 mm |
Thickness | - |
Shape | round |
Alignment | Coin |
Mints |
Denver Mint (D) Philadelphia Mint (no mintmark) San Francisco Mint (S)
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