In the numismatic world, few coins capture the imagination quite like the Liberty Head Nickel. Minted between 1883 and 1913, these nickels have a fascinating history, but none more so than the ultra-rare 1913 Liberty Head Nickel. In recent years, headlines blazed with the shocking story of one such nickel, valued at an astonishing $6.6 million, allegedly still in circulation. This article delves deep into the truth, myth, and mystique surrounding this legendary coin and examines how it became one of the most coveted treasures in American coinage.
The Story of the Liberty Head Nickel
The Liberty Head Nickel, also known as the “V” Nickel due to its reverse design displaying a Roman numeral “V,” was designed by Charles E. Barber, the Chief Engraver at the United States Mint. Production began in 1883, replacing the Shield Nickel. The design featured Lady Liberty on the obverse and the Roman numeral for five on the reverse.
Interestingly, the first batch of the 1883 nickels did not have the word “CENTS,” leading to unscrupulous individuals gold-plating the coins and passing them off as $5 gold pieces. The Mint quickly corrected the issue by adding the denomination to the reverse.
The Legendary 1913 Liberty Head Nickel
What makes the Liberty Nickel particularly rare is the 1913 issue. Official mint records confirm that no Liberty Head Nickels were authorized for production in 1913, as the design had been replaced by the Buffalo Nickel. However, five known specimens were mysteriously struck at the Philadelphia Mint, possibly by a rogue mint employee.
These coins surfaced in the 1920s under mysterious circumstances. Over the years, they passed through the hands of famous collectors and appeared in high-profile auctions, becoming some of the most valuable coins in existence.
The Known 1913 Liberty Head Nickels:
- Eliasberg Specimen – Currently valued at around $6.6 million.
- Olsen Specimen – Famously appeared on the TV show Hawaii Five-O.
- Norweb Specimen – On permanent display at the Smithsonian.
- Walton Specimen – Misplaced for years and rediscovered in 2003.
- McDermott Specimen – Noted for its fingerprints and nicks.
The Mystery: Still in Circulation?
The story that captured public attention was the suggestion that one of these rare nickels might still be in circulation. This idea was fueled by rumors and stories told among collectors and treasure hunters. While it is technically unlikely—given that all five known specimens have been accounted for—it’s not entirely impossible that an unknown sixth coin exists.
Why the Myth Persists:
- Unaccounted-for Mint Activity: The circumstances surrounding the minting of the 1913 nickels are shrouded in secrecy. There could be unrecorded mint activities.
- Hope of Lost Riches: The idea that a $6.6 million coin could be sitting unnoticed in someone’s piggy bank is tantalizing.
- Collector Fervor: Stories like this fuel the hobby of coin collecting, keeping enthusiasts vigilant and always on the lookout.
Valuation of the 1913 Liberty Head Nickel
The Eliasberg specimen holds the record at $6.6 million, but all five coins are worth millions due to their rarity and legendary status. Their value is not only in their metal content but in the story, history, and intrigue they carry.
Key factors that influence the coin’s value include:
- Provenance: Each coin has a well-documented history.
- Condition: Even among the five, condition varies, impacting the value.
- Market Demand: Wealthy collectors and investors drive prices into the millions.
Conclusion
The 1913 Liberty Head Nickel stands as a monument to numismatic history and American culture. While the notion that such a coin could still be floating in circulation is more legend than fact, it continues to captivate imaginations worldwide. The story of this nickel—born from mystery, pursued by the passionate, and valued at $6.6 million—is a reminder that even the smallest artifacts can hold immense cultural and historical significance. Whether sitting in a display case or rumored to be hiding in plain sight, the Liberty Head Nickel remains an icon of American numismatics.
