When rummaging through pockets or jars filled with loose change, it’s easy to overlook the potential value of certain coins. Among these, the five-cent coin, commonly known as the nickel, holds a surprising significance for collectors. Due to their age and the materials used in their production, some nickels can be worth thousands of dollars. This article explores the history of the nickel, notable variants, and tips for collectors.
A Brief History of the Nickel
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The five-cent coin was first introduced in the United States in 1866, originally referred to as the “shield nickel.” This design featured a shield emblem on the front, symbolizing the strength of the nation. By 1883, the design transitioned to the Liberty Head nickel, which remained in circulation until 1913.
The next major design shift came with the introduction of the Buffalo nickel, also known as the Indian Head nickel, which was minted from 1913 to 1938. The Buffalo nickel became iconic for its depiction of an American bison on one side and a Native American chief on the other. In 1938, the Jefferson nickel was introduced, depicting the third U.S. President, Thomas Jefferson, which is still in circulation today.
During World War II, the production of nickels underwent a significant change. From 1942 to 1945, the minting process temporarily shifted away from using nickel due to wartime resource shortages. Instead, the composition was altered to include silver and magnesium. Post-war, the nickel returned to its original formula of 25% nickel and 75% copper.
Valuable Nickels Still in Circulation
Despite their small denomination, several five-cent coins are considered rare and can fetch impressive prices in the collector’s market. Here are some notable examples of valuable nickels that could be hiding in your pocket:
- 1926-S Buffalo Nickel: Valued at approximately $4,200, this coin is rare due to its limited mintage.
- 1916 Double Die Buffalo Nickel: Known for its unique doubling in the design, this nickel can be worth around $3,800.
- 1918/17-D Buffalo Nickel: This coin, with its distinctive overdate, is valued at $3,500.
- 1879 Shield Nickel: One of the earlier designs, this nickel can command up to $2,400.
- 1937-D 3-Legged Buffalo Nickel: An error coin that resulted in a three-legged bison, this piece is worth about $2,000.
- 1880 Shield Nickel: Similar to the 1879 version, this coin is valued at $2,000.
- 1942-P Jefferson Nickel: Made during the wartime changes, this nickel can be worth up to $800.
- 1950-D Jefferson Nickel: Depending on its condition, this coin can fetch between $600 and $800.
- 1939 Double Monticello Nickel: Featuring a unique error in its design, this nickel is valued at around $500.
Caring for Your Coin Collection
The value of coins is largely dependent on their condition. Therefore, it’s essential for collectors to understand how to care for their nickels properly. Here are a few tips:
- Avoid Cleaning Coins: Cleaning can diminish a coin’s value. Instead, handle them with care and store them properly.
- Use Proper Storage: Keep coins in a cool, dry place. Use coin holders or albums that prevent damage from moisture and air.
- Regular Inspection: Check your coins periodically for any signs of deterioration or environmental damage.
Conclusion
The five-cent coin, often dismissed as mere pocket change, can hold significant value for collectors. By understanding the history and recognizing valuable variants, collectors can uncover hidden treasures in their change. Whether you’re an experienced numismatist or just starting, keep an eye out for those valuable nickels that may be worth much more than their face value.