Nickels, a staple in American coinage, have a rich history that dates back to the mid-19th century.
While these five-cent pieces are often overlooked in favor of their more glamorous counterparts like quarters and dimes, certain nickels in circulation hold significant value for collectors and enthusiasts.
This article will delve into ten of the most valuable American nickels that you might find in your pocket change or an old coin jar.
Understanding what makes these nickels valuable can not only enhance your appreciation of numismatics but also potentially lead to discovering a small fortune in seemingly ordinary coins.
1. 1913 Liberty Head Nickel
The 1913 Liberty Head Nickel, also known as the “V” nickel due to the Roman numeral on its reverse, is one of the most famous and valuable nickels ever minted.
Its value stems from its rarity, as only five specimens are known to exist.
These coins were produced under mysterious circumstances, and their legitimacy was questioned for many years. Today, they are recognized as genuine by the numismatic community.
The 1913 Liberty Head Nickel’s story begins with Samuel Brown, a former Mint employee who exhibited the coins at the American Numismatic Association (ANA) convention in 1920.
The coins’ origins were unclear, but Brown claimed they were struck without official authorization.
Over time, the coins passed through the hands of various collectors, including King Farouk of Egypt and Louis Eliasberg, whose collection was renowned for its completeness.
These nickels are prized not only for their scarcity but also for the intrigue surrounding their creation.
Each of the five known specimens has a unique history and pedigree, adding to their allure.
For instance, the Olsen specimen was featured on an episode of “Hawaii Five-O” and sold for over $3 million in 2010.
Owning a 1913 Liberty Head Nickel is the pinnacle of many numismatists’ dreams, representing a tangible connection to one of the greatest stories in American coin collecting.
The mystery, the rarity, and the immense value make this coin a true treasure.
2. 1916 Doubled Die Obverse Buffalo Nickel
The 1916 Doubled Die Obverse Buffalo Nickel is another highly sought-after coin due to its striking error.
This nickel features a doubled image on the obverse (front) side, particularly noticeable in the date and the word “LIBERTY.”
This doubling occurred during the minting process when the die used to strike the coins was improperly aligned.
Buffalo Nickels, also known as Indian Head Nickels, were produced from 1913 to 1938.
Designed by sculptor James Earle Fraser, these coins are celebrated for their distinctive American imagery, with a Native American profile on the obverse and an American bison on the reverse.
The 1916 Doubled Die Obverse is exceptionally rare because few were struck before the error was corrected.
As a result, these nickels command high prices, especially in higher grades. A well-preserved specimen can sell for tens of thousands of dollars, making it a prized piece for collectors.
The allure of the 1916 Doubled Die Obverse lies not only in its rarity but also in the unique appearance of the doubling, which can be quite dramatic.
This error captures a moment in minting history and represents the challenges and imperfections of early 20th-century coin production.
3. 1937-D 3-Legged Buffalo Nickel
The 1937-D 3-Legged Buffalo Nickel is one of the most famous minting errors in American numismatics.
This coin was produced at the Denver Mint and features a buffalo with only three legs on the reverse side. The error occurred when a mint worker over-polished the die, removing the buffalo’s front leg.
Buffalo Nickels are already popular among collectors for their iconic design, but the 3-Legged variety stands out due to its unique and easily recognizable error.
This coin is particularly valuable in higher grades, with prices reaching into the thousands of dollars.
The 1937-D 3-Legged Buffalo Nickel is a testament to the human element in coin production.
Errors like this highlight the fact that minting coins is a complex process subject to mistakes.
Collectors prize these errors because they represent a deviation from the norm, a rare and tangible piece of history that survived the scrutiny of the minting process.
Finding a 1937-D 3-Legged Buffalo Nickel in circulation today is unlikely, but it remains a popular and valuable coin at auctions and in private collections.
Its unique error and the story behind its creation continue to fascinate numismatists.
4. 1942-P War Nickel
The 1942-P War Nickel is a notable coin from World War II when the U.S. Mint altered the composition of nickels to conserve nickel for the war effort.
These nickels were made from an alloy of 56% copper, 35% silver, and 9% manganese, giving them a distinct appearance and a higher intrinsic value due to their silver content.
The War Nickels, minted from 1942 to 1945, can be identified by the large mintmark above Monticello on the reverse.
The “P” mintmark indicates that the coin was produced at the Philadelphia Mint.
The presence of silver in these nickels makes them valuable, with well-preserved specimens fetching higher prices based on both numismatic and bullion value.
The 1942-P War Nickel represents a fascinating period in American history when the country mobilized all its resources for the war effort.
These coins serve as a reminder of the sacrifices and adaptations made during that time.
Collectors are drawn to War Nickels for their historical significance and the unique opportunity to own a piece of wartime history.
5. 1950-D Jefferson Nickel
The 1950-D Jefferson Nickel is one of the most sought-after modern nickels due to its low mintage.
Only 2.6 million of these coins were produced at the Denver Mint, making it a key date for collectors.
The Jefferson Nickel series, introduced in 1938, replaced the Buffalo Nickel and featured a portrait of Thomas Jefferson on the obverse and his Monticello estate on the reverse.
The low mintage of the 1950-D Jefferson Nickel was a result of a significant decrease in demand for nickels that year.
This scarcity has made the coin particularly desirable for those completing a set of Jefferson Nickels.
In high grades, the 1950-D can command prices well above its face value, especially in Mint State condition.
The 1950-D Jefferson Nickel’s appeal lies in its combination of relative modernity and rarity.
It offers collectors a challenging yet achievable goal and serves as a reminder of the fluctuating demands and production levels in American coinage history.
6. 1971-S No S Proof Jefferson Nickel
The 1971-S No S Proof Jefferson Nickel is a rare and valuable coin due to an error in its production. Proof coins are specially made for collectors and typically feature a high level of detail and a mirror-like finish.
They are struck at the San Francisco Mint and bear the “S” mintmark. However, some 1971 proof nickels were mistakenly struck without the “S” mintmark.
This error makes the 1971-S No S Proof Jefferson Nickel extremely rare and highly coveted among collectors.
Proof coins are usually sold directly to collectors, so finding an error in such a controlled environment is unusual. As a result, these coins can fetch significant sums, especially in perfect Proof 70 condition.
The 1971-S No S Proof Jefferson Nickel highlights the meticulous nature of proof coin production and the high standards maintained by the U.S. Mint.
Errors in proof coins are rare, and their discovery often generates considerable excitement in the numismatic community. Collectors prize these coins for their rarity and the story of how such a mistake occurred.
7. 1982-P Jefferson Nickel
The 1982-P Jefferson Nickel is notable for its lack of a mintmark, a departure from standard practice. In 1980, the Philadelphia Mint began using a “P” mintmark on all coins except the cent.
However, some 1982 nickels were struck without the “P” mintmark, making them valuable errors.
This error is not immediately obvious, making it a rewarding find for observant collectors. The absence of the mintmark is the result of a die that was not properly engraved with the “P” mintmark.
These error coins are sought after, particularly in higher grades, and can command prices well above their face value.
The 1982-P Jefferson Nickel error exemplifies the importance of mintmarks in identifying the origins of coins. It also underscores the potential for valuable errors to be found in relatively recent coinage.
For collectors, the 1982-P provides an intriguing addition to their Jefferson Nickel collections and a reminder that even modern coins can contain valuable surprises.
8. 2004-D Peace Medal Nickel
The 2004-D Peace Medal Nickel is part of the Westward Journey Nickel Series, which commemorated the bicentennial of the Lewis and Clark Expedition.
This series introduced new reverse designs on the Jefferson Nickel, with the Peace Medal design being one of the first.
The Peace Medal Nickel, minted in Denver, features a depiction of the original Indian Peace Medal presented by Lewis and Clark to Native American leaders.
This design is significant for its historical context and the recognition of the expedition’s impact on American history.
While not particularly rare, high-grade examples of the 2004-D Peace Medal Nickel can be valuable, especially in Mint State and Proof conditions.
Collectors appreciate these nickels for their historical significance and the break from the traditional Jefferson Nickel design.
The 2004-D Peace Medal Nickel represents a modern twist on a classic coin series, bridging the past and present with its commemorative design. It serves as a reminder of America’s exploratory spirit and the importance of preserving and celebrating historical milestones.
9. 2005-D Ocean in View Nickel
The 2005-D Ocean in View Nickel is another coin from the Westward Journey Nickel Series, continuing the commemoration of the Lewis and Clark Expedition.
This nickel features an image of the Pacific Ocean and the inscription “Ocean in view! O! The joy!”—a phrase from William Clark’s journal upon reaching the ocean.
Minted in Denver, this coin is part of a series that brought fresh designs and renewed interest to the Jefferson Nickel.
While not particularly rare, high-grade examples, especially in Mint State and Proof conditions, are valuable to collectors.
The Ocean in View Nickel stands out for its connection to a pivotal moment in American history and its departure from the traditional Monticello reverse design.
Collectors appreciate these coins for their historical significance and the way they capture the spirit of exploration and discovery that defined the Lewis and Clark Expedition.
10. 2009-P Jefferson Nickel
The 2009-P Jefferson Nickel is notable for its low mintage compared to other modern nickels.
Due to the economic recession, the demand for new coinage dropped significantly, leading to reduced production across all denominations.
The 2009-P Jefferson Nickel, minted in Philadelphia, had a relatively low production run, making it more desirable to collectors.
While it is not as rare as some earlier key dates, its scarcity relative to other modern nickels adds to its value.
Collectors seek out the 2009-P Jefferson Nickel for its low mintage and the historical context of its production.
It serves as a reminder of a unique period in recent history when economic factors significantly impacted coinage production. High-grade examples of the 2009-P can command premium prices, particularly in Mint State conditions.
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Conclusion
Nickels, often overlooked in everyday transactions, hold hidden treasures for those who know where to look.
From the storied 1913 Liberty Head Nickel to the modern commemorative issues of the Westward Journey series, these coins offer a fascinating glimpse into American history and the intricacies of coin production.
Collectors and enthusiasts alike find joy in discovering these valuable nickels, each with its unique story and significance.
Whether you are an experienced numismatist or a curious beginner, the world of valuable American nickels provides a rewarding journey into the past.
By understanding the history, errors, and unique features of these coins, you can appreciate the artistry and effort that goes into minting each piece of currency.
So, next time you handle a nickel, take a closer look—you might just find a piece of American numismatic history in your hand.