1866-1867 Shield, Rays on Reverse

COIN NAME: NICKEL FIVE-CENT PIECE 1866-1867 Shield, Rays on Reverse
DESIGNED BY: James B. Longacre
ISSUE DATE: 1866-1867
COMPOSITION: 75% copper, 25% nickel
DIAMETER: 20.5 mm
WEIGHT: 77.16 grains (5 grams)
BUS MINT: 16,761,500
PROOF MINT: 500 (estimated)

Here we see the introduction of the first Nickel. It was obviously intended to be a substitute for the Half Dime which was made of silver. The Treasury Department at the time was withholding silver coins from circulation.

The first design was the Shield style with rays on the obverse. The obverse closely follows the design of the two-cent piece and consists of a shield with a wreath surrounding the upper portion, a cross at the top, and two crossed arrows at the bottom. IN GOD WE TRUST is above, and the date is below. The reverse is dominated by the central numeral 5. Thirteen rays, interspersed among as many stars, emanate from the 5. The inscription UNITED STATES OF AMERICA and CENT'S appears around the border.

Due to difficulty in striking the hard alloy and preserving detail, the rays were eliminated from the design early in 1867. Examples of the 1866-1867 Shield Nickel with rays are readily available in grades from Good through AU. Uncirculated pieces are scarce, and truly superb Uncirculated coins are rare. A number of Proofs were minted for collectors, particularly in 1866, when it is believed that nearly 500 were made.

1867-1883 Shield, Without Rays

COIN NAME: NICKEL FIVE-CENT PIECE 1867-1883 Shield, Without Rays
DESIGNED BY: James Barton Longacre
ISSUE DATE: 1867-1883
COMPOSITION: 75% copper, 25% nickel
DIAMETER: 20.5 mm
WEIGHT: 77.16 grains (5 grams)
EDGE: Plain
BUS MINT: 111,256,110
PROOF MINT: 31,000 (estimated)

Who would believe even the first Nickels were made more of copper than of nickel. The rays were eliminated from the previous style due to difficulty in preserving detail when struck. Other than that change, the design is similar to the 1866 style. However, Shield nickels of this type are generally better struck than earlier pieces, although the majority of surviving coins still show weakness in one area or another.

Die breakage was a common occurrence, and often inspection with a magnifying glass will reward the viewer with a glimpse of a myriad of tiny cracks, which lend interest to a coin. From 1867 through 1883 coinage was continuous, although in 1877 and 1878 no business strikes were produced; the issues of those two years were limited to Proofs for collectors.

Numismatists will have no difficulty obtaining a common date such as most years from 1867 through 1876, and also 1882 and 1883, in any grade desired from Good through AU. Uncirculated pieces are scarce and superb Uncirculated pieces are rare.

1883 Liberty, Without CENTS

COIN NAME: NICKEL FIVE-CENT PIECE 1883 Liberty, Without CENTS
DESIGNED BY: Charles E. Barber
ISSUE DATE: 1883
COMPOSITION: 75% copper, 25% nickel
DIAMETER: 21.2 mm
WEIGHT: 77.16 grains (5 grams)
EDGE: Plain
BUS MINT: 5,474@000
PROOF MINT: 5,219

In 1883 a new size and design appeared. The diameter of the coin changed from 20.5 mm to 21.2. The weight, however, did not change. It is speculated that the new design that depicts the head of Miss Liberty on the obverse was modeled after the Goddess Diana. The Liberty Head motif by Charles E. Barber. Miss Liberty wore a coronet inscribed with LIBERTY and surrounded by 13 stars, with the date below.

The reverse shows an agricultural wreath, open at the top, enclosing the Roman letter V as the only mark of value. UNITED STATES OF AMERICA and the motto E PLURIBUS UNUM surround. The word CENTS does not appear on the coin. Unscrupulous persons gold-plated the pieces and passed them off as $5 gold coins to unsuspecting merchants and citizens. The mint realized that a design error had been created, and soon the word CENTS was added to the reverse.

The variety captured the fancy of the public, and rumors quickly spread that the mint was calling them in and that the value would soon rise sharply. The rumor was untrue but it did not stop vast quantities from being hoarded.

In grades from Good through Uncirculated, particularly in higher grades from Extremely Fine through AU, examples are easily available. Superb Uncirculated coins are also available, but some searching may be required to locate a nice one.

1883-1913 Liberty, With Cents

COIN NAME: NICKEL FIVE-CENT PIECE 1883-1913 Liberty, With Cents
DESIGNED BY: Charles E. Barber
ISSUE DATE: 1883-1913
COMPOSITION: 75% copper, 25% nickel
DIAMETER: 21.2 mm
WEIGHT: 77.16 grains (5 grams)
EDGE: Plain
BUS MINT: 596,535,965
PROOF MINT: 79,923

It was necessary to add back the word CENTS in this issue to thwart counterfeiting of $5 Gold Pieces. The Without Cents design was gold-plated and passed off on unsuspecting merchants.

The reverse design was modified to incorporate CENTS below the wreath. The motto E PLURIBUS UNUM, earlier in that space, was reduced in size and placed in an arc above the wreath. This style was continued through the end of the series in 1912. Coinage was continuous from 1883 onward. Scarce early dates include 1885 (the key issue) and 1886. In 1912, nickel five-cent pieces were struck for the first time at Denver and San Francisco. Sometime after 1912, some 1913-dated Liberty Head nickels were struck. The quantity was not recorded, but collectors know only five such pieces today.

The numismatist seeking an example for a type set will have no difficulty acquiring a common date, particularly in the 1900-1912 span; in any grade desired from Good through AU. Uncirculated pieces are scarcer, and superb Uncirculated pieces are quite elusive. Proofs, which were made in fairly large quantities throughout the series, usually are sharply struck and can be obtained without difficulty, although uncleaned pieces often show fight flecks due to moisture.

1913 Buffalo or Indian, Type I

COIN NAME: NICKEL FIVE-CENT PIECE 1913 Buffalo or Indian, Type I
DESIGNED BY: James E. Fraser
ISSUE DATE: 1913
COMPOSITION: 0.75 part copper, 0.25 part nickel
DIAMETER: 21.2 mm
WEIGHT: 77.16 grains (5 grams)
EDGE: Plain
BUS MINT: 384,734,270
PROOF MINT: 1,250

For those who thought the Nickel was called a "Nickel" because of the material it was made of - think again. And for those who think the proper way to refer to this coin is to call it the "Buffalo Nickel", you're wrong too. The proper name for the design is the "Indian". It replaced the Liberty Head nickel in 1913.

The obverse portrait was modeled from life by studying three Indian models, while the reverse was styled from a bison, popularly called a "buffalo," at the Bronx Zoo. The obverse depicts the head of an Indian facing right, with LIBERTY in small letters at the upper right edge, and the date at the lower left. The reverse shows a bison standing on a raised mound, UNITED STATES OF AMERICA and E PLURIBUS UNUM above and FIVE CENTS on a mound below. It was found that the relief of the mound caused the inscription in that area to wear quickly, so the bottom part of the reverse was subsequently redesigned, creating the so-called Type II. The Type I is distinguished by the presence of a mound with FIVE CENTS inscribed on it, as noted. Production of business strikes was accomplished at Philadelphia, Denver, and San Francisco, with Philadelphia registering by far the largest mintage. At Philadelphia, 1,250 Matte Proof examples were made for collectors.

Examples of the 1913 Type I Buffalo nickel are readily available in all grades from About Good to Uncirculated. Superb Uncirculated coins are scarce, although not rare. Matte Proofs have survived in relatively few numbers, and of the 1,250 minted, probably not more than a few hundred still exist. As certain business- strikes closely resemble Matte Proofs, care is to be taken when buying one of these.

1913-1938 Indian Type II

COIN NAME: NICKEL FIVE-CENT PIECE 1913-1938 Indian Type II
DESIGNED BY: James E. Fraser
ISSUE DATE: 1913-1938
COMPOSITION: 0.75 part copper, 0.25 part nickel
DIAMETER: 21.2 mm
WEIGHT: 77.16 grains (5 grams)
EDGE: Plain
BUS MINT: 1,174,464,771
PROOF MINT: 4,439 Matte Proofs; 10,189 Proofs with brilliant finish

The Type II Buffalo nickel is similar to the Type I of 1913 except for the reverse. The Type II features a restyled area at the bottom of the reverse. The "buffalo," previously standing on a raised mound is now on a line or plane. The inscription FIVE CENTS, earlier on the mound, is now in a recessed portion below the line, thus protecting it from wear. This style was produced from 1913 through the end of the Buffalo motif in 1938.

The type set collector will have no difficulty in obtaining one of the more common issues of this style, perhaps a piece in the 1930s. Examples are available in all grades from About Good through superb Uncirculated. Most surviving Buffalo nickels show areas of light striking in one part of the design or another, with the high parts of the Indian's head often being indistinct. Indeed, certain issues of the Denver and San Francisco mints in the 1920s are nearly always weakly struck, with 1926-D being particularly egregious in this regard. Matte Proofs were minted from 1913 through 1916 and closely resemble business strikes except that the Matte Proof issues have brilliant squared-off edges and rims and have a microscopically granular surface, unlike the mint "frost" of most business strikes. Often an expert must be enlisted to tell the difference.

1938 To Date, Jefferson

COIN NAME: NICKEL FIVE-CENT PIECE 1938 To Date, Jefferson
DESIGNED BY: Felix 0. Schlag
ISSUE DATE: 1938 to date
COMPOSITION: 0.75 part copper, 0.25 part nickel
DIAMETER: 21.2 mm
WEIGHT: 76.16 grains (5 grams)
EDGE: Plain
BUS MINT: 21,158,380,137 through 1985
PROOF MINT: 78,735,299 through 1985

Here we see the introduction of the modern day design of our "Nickel." The composition of the coin remained the same throughout the production run, except for coins made during the wartime period. Wartime coins were dated 1942-1945. The design came as a result of a contest held in which 390 different designers competed for designer acclaim and a $1,000 prize.

This motif pictured Thomas Jefferson on the obverse and a corner view of Jefferson's home, Monticello, on the reverse. Interestingly, the contest-winning design was changed slightly for purposes of production. In the final production design, the profile of Monticello was changed to a front view. The finished product depicted a head and shoulders portrait of Jefferson facing left, with IN GOD WE TRUST to the left and LIBERTY and the date to the right. The reverse depicted Monticello at the center, E PLURIBUS UN-UM above, and inscriptions of MONTICELLO, FIVE CENTS, and UNITED STATES OF AMERICA below.

Jefferson nickels, currently being produced, are readily available in all grades. Business strikes with sharply-struck steps on the Monticello building are scarce for certain issues, but searching for these is in the realm of the Jefferson nickel specialist need not concern the collector seeking a single specimen for type.

1942-1945 Wartime Jefferson

COIN NAME: NICKEL FIVE-CENT PIECE 1942-1945 Wartime Jefferson
DESIGNED BY: Felix 0. Schlag
ISSUE DATE: 1942-1945
COMPOSITION: 56 part copper, .35 part silver, .09 part manganese
DIAMETER: 21.2 mm
WEIGHT: 77.16 grains (5 grams)
EDGE: Plain
BUS MINT: 869,896,100
PROOF MINT: 27,600

From a purely intrinsic standpoint, the "Wartime Nickel" had more intrinsic value than did other years. It's hard to imagine, after all the years of trying to shrink the amount of silver used in coinage, that silver would make its way into the production of Nickels. Apparently nickel was more strategic to the war than it was in the minting of coins. The former composition of 0.75 part copper and 0.25 nickel was changed to 0.56 part copper, 0.35 part silver, and 0.9 part manganese.

To differentiate the new alloy and to aid in later redemption and sorting by metallic content of these pieces by the Treasury Department, the wartime pieces were made with a large mintmark above the dome of Monticello. The Philadelphia Mint, which had never used a mintmark earlier, was represented by a P, while D and S represented Denver and San Francisco respectively.

Business strikes are readily available in grades from Very Good to superb Uncirculated. Worn pieces are apt to have a rather scruffy appearance, so the acquisition of an Uncirculated (or Proof piece is recommended. Uncirculated coins are usually sharply struck.