The nickel coin, which is widely recognized, is an integral part of numerous currencies across the globe, including those of the United States and Canada. A nickel, occasionally erroneously referred to as a nickel, is a five-cent coin produced by the United States Mint. Since 1866, this cupronickel piece has been in circulation, which is 75% copper and 25% nickel.
It has a thickness of 0.077 inches (1.95 mm) and a diameter of 0.835 inches (21.21 mm). The five-cent silver half dime was in circulation from 1792 to 1873, preceding the cupronickel iteration in circulation today.
What Do You Know About Nickel Coin?
The five-cent coin was minted in 1866 in response to the increasing demand for circulating currency following the extensive stockpiling of silver and gold coins during the American Civil War.
At the time, it was not referred to as a nickel because three-cent portions of coins made of that metal already existed. Nickel was readily available and unlikely to be stockpiled when postwar reconstruction commenced, making it an ideal material for a new denomination.
The initiation of nickel mine owner and American magnate Joseph Wharton’s production of coins featuring a shield design, regarded as the first nickel, was primarily attributable to his influence. However, renowned numismatic author Q.
David Bowers suggests that these coins should be called coppers, composed of 75% copper and 25% nickel. This composition has remained unchanged since its inception, except for war nickels issued from 1942 to 1945 during World War II.
A redesigned nickel, dubbed the Liberty Head, was introduced in 1883. In 1913, the nickels above were substituted with the trendy Buffalo nickel. The current-day Jefferson nickel made its début in 1938. Each of these nickels from the 20th century is still extensively collected.
History Of The Nickel Coin
Throughout the years, numerous variations of the nickel have been introduced. Listed below are some noteworthy examples:
1. Shield nickel (1866-1883): The shield nickel (1866-1883) was the initial iteration of the nickel coin, which was introduced in 1866. James B. Longacre, the chief engraver at the United States Mint, conceived it. On the obverse is a shield crowned with a cross, whereas on the reverse is the numeral five encircled by stars. The design garnered significant disapproval, with the American Journal of Numismatics even classifying it as “the most unsightly among all coins ever produced.”
2. Liberty Head or “V” nickel (1883-1913): In 1881, Philadelphia Mint Superintendent Archibald Loudon Sowden commissioned Charles Barber, the Mint Engraver, to create new designs for pieces priced at one cent, three cents, and five cents.
Snowden mandated that the obverse side of the new coins should depict the Liberty image decorated with the inscription “LIBERTY.” In contrast, the nickel’s reverse should encircle a Roman numeral “V” or 5, surrounded by a wheat, cotton, and corn wreath. The Liberty Head was struck extensively throughout its thirty-year circulation period.
3. Buffalo or Indian Head nickel (1913-1938): The buffalo or Indian Head nickel (1913-1938) was endorsed by Eames MacVeigh, the son of Treasury Secretary Franklin MacVeigh, in a letter dated May 4, 1911. In the letter, MacVeigh advised his father to seize the opportunity to enhance the nickel’s design.
Shortly after the MacVeigh letter, it was declared that the Mint would accept submissions for new nickel designs. James Earle Fraser, a sculptor, presented the Mint with a design that featured a bison on the reverse and a Native American on the obverse. Commencing its circulation on March 4, 1913, the Buffalo nickel swiftly garnered recognition for portraying profoundly American themes.
4. Jefferson nickel (1938-present): The Jefferson nickel has been in circulation since then. The U.S. Mint introduced an open competition in January 1938, offering the successful designer a $1,000 reward. The victor, Felix Schlag, was declared on April 24. The portrait of Thomas Jefferson graced the obverse of his design, while the reverse depicted his estate, Monticello.
5. Jefferson Nickels Since 2004: Evans Nickels has existed since 2004. In commemorating the Lewis and Clark Expedition’s bicentennial in 1804, the United States Mint introduced a unique collection of Jefferson nickels called the Westward Journey Nickel Series.
The collection comprises five designs that were exclusive to a specific year: the 2004 Keelboat reverse and Peace Medal reverse, both of which were paired with the original obverse design, and two 2005 nickels that showcased a side profile obverse of Jefferson painted by Joe Fitzgerald as part of the Artistic Infusion Program of outside artists established by the Mint Director Henrietta Holsman Fore in 2003. Fitzgerald’s design was accompanied by two new reverses, one depicting an American bison and the other offering a view of Lewis and Clark.
The issuance of these commemorative nickels coincided with the popularity of the state quarter series, which featured unique reverse designs on each coin. Collectors and the general public enthusiastically embraced the new five-cent pieces.
A new obverse, inspired by a portrait of Jefferson facing forward in a painting by Rembrandt Peale, was introduced in 2006. It was accompanied by the original reverse, crafted by Felix Schlag and enhanced by sculptor-engraver John Mercanti regarding clarity and detail.
The Jefferson Nickel series experienced yet another first in 2020: the inclusion of the first nickels bearing the “W” mintmark for the West Point Mint as a special incentive with silver and proof sets. Unforeseen events prevented the inclusion of said nickel in the collections of uncirculated coins for 2020.
The Design Of A Nickel Coin
Presently, the “Return to Monticello” motif adorns the five-cent coin of the United States. In 2006, the U.S. Mint initially issued this design. The obverse (heads) depicts Thomas Jefferson in the likeness of a portrait by Rembrandt Peale. The reverse image (tails) of Monticello provides a more intricate portrayal of the design that was in use between 1938 and 2003.
The initial five-cent coin produced by the United States Mint was, in fact, silver and not nickel. This silver five-cent coin was significantly smaller than the nickel of today and was known as a “half disme” (pronounced “dime”). From 1794 to 1837, the designs featured an eagle on the reverse and Liberty on the obverse. A wreath motif supplanted the eagle in 1837.
The Mint introduced nickel and copper five-cent coins featuring the inscription “nickels” in 1866. Until 1873, the Mint continued to produce the lesser silver half dime.
Since 1938, the Mint has manufactured the renowned “Buffalo” nickel, which James Earle Fraser conceptualized. A portrait of a Native American chief was portrayed on the obverse, while an American bison was shown on the reverse.
In 1938, Jefferson was depicted on the obverse of the nickel, while his Virginia estate, Monticello, appeared on the reverse. Until 2003, these designs, both by Felix Schlag, persisted. With the Westward Journey Nickel Series, the Mint commemorated the bicentennials of the Louisiana Purchase and Lewis and Clark Expedition in 2004.
What Are The Characteristics Of A Nickel Coin?
- A nickel-less nickel once existed… Throughout World War II (1942–1955), copper, manganese, and silver alloys were used to create the five-cent coin. Nickel was set aside for military purposes.
- Once, the buffalo was an outsider… From 1913 to 1938, the buffalo nickel featured the bison, the first animal other than an eagle on a circulating American coin. This non-eagle remained the sole non-eagle animal until 1999, when the 50 State Quarters Program implemented an expansion of animals, including bison.
- Nickel experienced an exponential growth surge… Initial pieces worth five cents were tiny. Known as “half dimes,” their mass was precisely half that of a dime because their valuation was predicated on the quantity of silver utilized in their production.
- A coin of the half dime’s (approximately 16 mm) diameter, it was difficult to manipulate and prone to loss. Director of the Mint James Pollock believed that a nickel alloy five-cent coin would be a suitable replacement for the circulating five-cent paper notes in 1865. Additionally, it proved to be a suitable substitute for the half-dime.
- Historically, the Mint produced two distinct 5-cent coinage… The initial five-cent coin was struck from silver. The minuscule “half dime” remained in circulation until 1873, notwithstanding the invention of the nickel equivalent in 1866. Thus, for several years, both varieties of five-cent coins were produced and circulated; however, they differed in design, size, and metal composition.
- The image on the nickel was a likeness… Before 2004, nickels bearing a portrait based on a bust of French sculptor Jean-Antoine Houdon in marble. The sculpture, completed in 1789 while Jefferson was still alive, is said to resemble him precisely.
Why Do Coin Collectors Collect Nickel Coins?
Coin collectors are frequently drawn to ancient coins. Why? Strict to state. However, collecting becomes a more captivating concept when antiquated products are considered. It is intriguing due to the item’s history of collection, the number of proprietors it has had, the distance it has traveled, and the experiences it has had. It can render ancient collectibles considerably more appealing to collectors than recent items.
War nickels are the epitome of this principle. Nevertheless, what are combat nickels? One must first comprehend the Jefferson nickel and then examine a war nickel to discern the distinctions. For instance, take note of the distinctive mint mark on the obverse.
Jefferson nickels were introduced into circulation in 1938. The obverse side of these coins widely recognizes an image of Thomas Jefferson, the third president of the United States of America. The reverse side of the coin showcases Monticello, his renowned residence.
The United States was compelled to alter the composition of the Jefferson nickel throughout World War II. As a consequence of the war endeavor, nickel was significantly in demand. Armored plates and artillery were both nickel-based. To satisfy this substantial demand, the nickel content of the five-cent piece was substituted with silver.
To accurately identify it, the five-cent coin was issued in October 1942 with an alloy composition of 35% silver, 56% copper, and 9% manganese. On the contrary, this alloy was fundamentally distinct from the preceding one, which comprised the critical 25% nickel and 75% copper.
The combat nickels are inherently unique. They are distinct and symbolize a critical juncture in human history. The discovery of these exquisite coins is both thrilling and entertaining. They are distinguished by the oxidation of metals on their surfaces. Additionally, their intrinsic and collectible values may vary based on the coin’s grade, rendering them even more unique.
For a more detailed examination, PCGS catalogs an MS 66 silver war nickel from 1942 struck at the San Francisco Mint. This particular specimen was recently sold at auction for $24.99. The listed price in the PCGS Price Guide is $28.00. Indeed, that is remarkable! A coin that is technically worth only $0.05 for $28.00? While this is an impressive price for a nickel, others may be worth even more contingent on the coin’s condition, rarity, year of Mint, and mint mark.
War nickels are significant coins. We derive considerable pleasure from them. They are enjoyable to collect and an excellent entry-level item for an enthusiastic novice collector. Furthermore, they are intelligent coins for both novice and seasoned coin collectors to amass.
War nickels are among those coins that offer collectors numerous additional motivations to acquire them. Individuals may, for instance, acquire them due to the coins’ collector’s value, given that they are antiquated and, therefore, valuable. Furthermore, the coin’s value is enhanced by its silver content.
For instance, in 1980, the price of silver was nearly fifty dollars per ounce, which caused nickel to be worth at least two and a half dollars during the worst conditions of the conflict. Irrespective of their situation, their value continued to increase, and the price for them likewise escalated.
This is why many individuals collect war nickels: they are exceedingly valuable and esteemed. War nickels are an excellent option for novice and seasoned collectors alike.
What Is A Nickel Coin Worth In Dollars?
In 1866, the first nickels were struck in the United States. The majority of coins were struck from silver or gold at the time. Pure copper was used to create coins of lesser denominations in the United States.
Despite having the appearance of silver, nickel does not contain any silver. Nickels, which consequently lack the luster of gold and silver, are therefore unpopular among coin collectors. However, nickels are available at exorbitant prices and coveted by every coin collector. The ten most valuable nickels are as follows:
- Specimen of a 1913 Liberty Nickel owned by The Olsen: $3,737,500
- 1918/7-D Nickel of Buffalo, Doubled The reverse reads: $350,750.
- Buffalo Nickel 1926-S: $322,000
- 1916 Nickel of Buffalo, Doubled Obverse Value: $281,750
- 1913-D Type 2 Buffalo Nickel: $143,750
- 1917-S Nickel and Buffalo: $138,000
- 1920-D Nickel and Buffalo: $138,000
- 1867 for Shield Nickel-Proof with Rays: $132,250
- 1918-S Nickel and Buffalo: $125,350
- Buffalo Nickel 1927-S: $125,350
The nickel coin, frequently disregarded in routine transactions, possesses a complex fabric of historical, cultural, and economic importance. Nickel, which has maintained its place in the pockets and purses of people around the globe since its inception in the 19th century, has demonstrated adaptability to changing times. As society progresses towards a more digital economy, the nickel coin’s legacy and future continue to be topics of intrigue and discussion, as they represent considerably more than their nominal value would indicate.
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