Nickel 5 Cent Pieces

In 1866, the nickel 5 cent piece first debuted in the United States.  Up until that time, a half dime was also that was available.  The Mint's first series  of this new type of coins was Shield Nickels.  They lasted less than 20 years.  In 1883, Liberty Head Nickels replaced the Shield Nickels.  The design of the coin is attributed to Charles E. Barber, who had been employed as an engraver at the Mint for about three years.  The obverse of his coin features a Liberty woman facing to the left with the date below and a ring of stars around the bust.  The reverse features a Roman numeral V.  Within months of the first strike, the word "cents" was added to the reverse.  As it turns out, clever counterfeiters had been gold plating the nickels and passing them off as $5 gold pieces.  The coin was about the same size as a half eagle.  For 1883, then, you will find two varieties - those with and those without "cents."  Surprisingly, the "with cents" variety are scarcer.  The Philadelphia Mint coined all items through 1912, when the Denver and San Francisco branches added their own coins to circulation.  While the series officially ended in 1912, less than a half dozen 1913 nickels were mysteriously released in a year that only was supposed to have Buffalo Nickels.  Thus, this series of coins began with controversy and ended in controversy in 1913 as described further below.  It is a terrific set to collect!

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1912 S - The Key Date

1912-S is the third highest demanded key date and lowest minted coin among the regular series of Liberty Head nickels, led by the 1885 and 1886 in popularity.  (There is a story about a handful of coins dated 1913 being released that are valued in the millions per coin, but they are not considered part of the regular series).  With respect to the regular series, only 238,000 1912-S nickels were minted in the regular business strikes.  There are no reported proofs from the San Francisco branch mint.

The 1912-S has been a popular date since it was issued in 1912.  Coinage began on December 24, 1912, and lasted four days according to one source.  These coins were clearly held as a novelty back at issuance.  A survey of data from the major grading services and historical sales on eBay has been conducted by the author.  It appears that these coins are found at both ends of the spectrum for grade, but few in the middle.  You will find examples that are in uncirculated condition or else very well worn.  Very few coins are available in the intermediate grades.

What Is It Worth?

Today, the 1912-S nickel remains scare in all grades.  While a common date Liberty Head nickel may run a dollar or two on an eBay auction, you will not find a genuine coin at these rates.  The coin is typically valued in excess of $200 in Good and approaches $8,000 in MS-65.  Proof coins are priced similarly.

If you are looking to add one of these terrific pieces to your collection, please check out our eBay auctions.  We offer several fine examples that are available today!

How Do I Approach Collecting These Coins?

Liberty Nickels cover 30 years.  This is a compact and completely approachable set to collect.  As described above, nearly all coins (except for 1912) were minted in Philadelphia, allowing the collector to focus on years of issuance only and not bothering with by mint marks.  In addition to collecting by years, collectors have also been known to collect by type.  Others still focus on accumulating the key dates of 1885, 1886 and 1912-S.  Proofs were made in every year and these are another category to focus on.