As you all may know a five-cent coin is one of the most popular US coins and it is still in use today, despite its low-value denomination. This coin became very popular because of how convenient it was when used in vending machines for buying candy or a bottle of Coca-Cola.
The most popular nickel is the one bearing the image of former U.S. President Thomas Jefferson. However, this is not the only design of the five-cent coin, in fact, there are many different types of nickels that are attractive to collectors.
Considering that the first nickel was minted in 1866 you are in for a fun adventure looking for all kinds of nickel. Keep in mind that some of them were initially made out of silver and gold so they are much more valuable than you think. Nowadays, these rare nickels can be worth a fortune, but these coins can’t be found in circulation for sure.
On the contrary, these coins can be found at auctions, sow cases, yard sales, and antique shops. But before you hit the local yard sale you must know what exactly you are looking for. Luckily, all you need to know and learn is in this article. Read on to learn how to determine and recognize rare nickels worth money and find out all the key dates and series you should pay attention to.
Let’s Star With A Short History Lesson About Nickels
The thing about small denomination coins is that most of them have long and rich historic backgrounds. Nickel dates back to the American Civil War. During that period American currency was in crisis. Considering the situation a lot of people started hoarding money, especially those coins made from precious metals like gold and silver.
This means that almost all coins that were in circulation at that time nearly vanished. An even bigger problem was that the Mint didn’t have enough precious metal resources to mint new ones. That made everyday life errands hard to achieve. People couldn’t send mail or buy groceries without coins.
War ended in 1865 and with that coins made from precious metals slowly were back into circulation. However, the US Mint started using more common metals such as nickel and copper for minting new coins to avoid a crisis. In 1866 the first new nickel coin was minted and decorated with a shield, and the number “5” surrounded by a star and ray design. As with all coins it also featured the words, “In God We Trust”.
This new Shield nickel was minted from 1866 until 1883 when it was replaced with the Liberty Head coin. To be honest nickel coin changed so many designs, and the most recent update occurred in 2006. In this last change, President Jefferson’s image was replaced with a frontal portrait. As already mentioned, coin-operated machines like washing machines, drying machines, vending machines, and jukeboxes make nickel an indispensable coin.
List Of All US Nickles Worth Looking For
No matter how rich history nickel has it is often overlooked. There is no valid reason since there are a plethora of different nickel designs a collector can choose from. From the Shield nickel to the Jefferson nickel, if you decide to collect nickels you can easily build a very valuable collection just out of 5C coins.
To be able to make a good and thorough collection you need to know how many types of nickels there are to collect, so keep reading.
Jefferson nickels 1938-2003
Considering their low prices Jefferson nickels are one of the best coins you can choose when you are a newbie. Did you know that you can complete the entire Jefferson Nickel series from the coins that are in circulation? That is also one of the reasons why this type of nickel coin is great for beginners.
There are only a few Jefferson nickels you can’t find in circulation and those are wartime nickels, coins from 1942 to 1945. The great thing is that earlier dates of the series are still in circulation. Keep in mind that it will be a challenge to assemble a set of coins with well-defined strikes and good condition if you only look for coins in circulation.
Key dates you should pay attention to are – 1938-D, 1939-D, 1939-S, and 1950-D.
Buffalo nickels 1913-1938
Buffalo nickels are very popular among collectors even though their value is disproportionate to the mintage. What we mean is that some Buffalo coins are worth more than others because their minting numbers for that year were fewer, but there are also series with high minting numbers that are very valuable as well.
Logically, low-minted Buffaloes are valued too high, so make sure you purchase Buffalo that have already been graded by third-party certification companies. Coins from the first few years of minting in a well-preserved condition are highly sought after among collectors.
Key dates in Buffalo nickels you should look for are – 1915-S, 1913-S Type 2, and 1918/7-D.
Liberty head or also known as V nickels 1883-1913
Liberty nickel value varies a lot depending on the year of mintage, condition, and type of errors. The good and bad thing is that this nickel features a lot of valuable errors and die varieties that will significantly boost the price. Also, there are still so many undiscovered errors, and varieties from this period so make sure you open your eyes well.
This coin can achieve a price that goes over a few million dollars. An exact value of a V-nickel depends on the scarcity and minting date. For instance, an 1889 nickel in good condition is worth around $10, while an 1885 nickel in uncirculated condition goes from $1,500.
For many collectors, this is the most beautiful nickel design. There is something about that big and bold letter V that makes this coin so eye-catching.
Key dates for V-nickles are – 1885, 1886, and 1912-S.
Also Read: 1913 Liberty Head Nickel Value (Rarest Sold For 5 Million)
Shield nickels 1866-1883
What makes Shield nickel unique is his design. Having no portrait and a big number “5” surrounded by stars on the reverse side is something that we didn’t see on US coins before. These coins are a bit expensive for beginners since even the worn-out example will cost you at least $50.
However, this coin is worth every penny since its unique design will enhance your coin collection. Also, what makes these coins attractive for collectors is the fact that The United States Mint produced all Shield nickels at the Philadelphia Mint exclusively. A complete date set of this type of nickel includes only 16 coins and you’ll need to cash out a minimum of $2,000 to assemble a complete set of circulated coins in circulated condition.
Key dates for Shield nickels are – 1877, 1878, 1879, 1880, and 1881.
Table of the most valuable rare nickels
How To Locate And Recognize Valuable Rare Nickels?
Considering how useful this coin was and still is there is no surprise that there are millions of nickels available in circulation nowadays. These have been created throughout history and many of them are still in use today. Finding a rare nickel in this bunch might seem like an impossible task, but the truth is that it isn’t quite as hard as you would imagine.
What you need to pay attention to are a few key elements that a collector’s piece must have. First of all, your task is to find examples that are few in existence, the rare the better. If that coin comes with some interesting error or history background it will pay out double. Aim for pre-war or war periods.
Perhaps the most important thing is the condition of the nickels you want to buy or sell. No matter how rare and unique your coin is, if it is in bad shape it won’t be worth as much. Track the rare dates and varieties and look for them. Work on memorizing the list of years for every type of nickel and focus on them.
Don’t forget to look for error nickels. It is crazy how a small minting error can work in your favor and be turned into big money. But make sure you get informed beforehand, an erosion can cause some similar changes on the coin which does not qualify as an error. You need to know what error types are original and which aren’t.
Locating valuable and rare nickels from an interesting era, such as the war era isn’t easy. Mostly because these coins are out of circulation. Finally, you’ll need to know how the grading scale will affect the value of your coin. A grading scale goes from 1 to 70, where 70 is the highest possible grade. Most valuable coins fall into three categories:
- Circulated – These coins have been used in everyday transactions and they show major worn-off signs. They are worth the lowest.
- Uncirculated – These coins are what you are looking for as a collector! These went directly from mint to collectors and they are in good condition.
- Proofs – These coins are the most expensive and made to an exceptional level of quality. What is characteristic of them is that they are often struck twice to ensure ideal clarity of design.
Besides that basic grading system, coins will carry some of the following grades:
- Poor (PO-1) – This coin is also known as Basal State. A coin with this grade can’t be recognized since in most cases they miss large parts of the design and the date of minting.
- Fair (FR-2) – A coin with this grade has a visible date that will help you to identify the coin, however, the lettering is usually completely gone, while images aren’t clear.
- About Good (AG-3) – You can also call them almost good coins. This grade is for coins that have most of the design outlined. But the rims are worn far enough into the design and damage the surrounding lettering.
- Good (G-4, 6) – These coins always have a general design of the coin outlined. However, some areas of design are weak. These are very worn coins, still, a lot of collectors will choose them.
- Fine (F-12, 15) – To be able to carry a Fine grade all seven letters of the word LIBERTY should be visible on the coin! Minor wear and tear on the coin are acceptable.
- Very Fine (VF-20, 25, 30, 35) – On this coin all major details must be visible. A coin can only show signs of medium to light wear. Like with the previous coin grade, all seven letters of the word LIBERTY are clearly visible.
- Extremely Fine (XF-40, 45) – These coins are in nearly perfect condition. What you might notice are some small traces of mint luster. The coin can only show signs of light wear.
- About Uncirculated (AU-50, 53, 55, 58) – These are coins that show some minor signs of light friction on the highest points.
How does the mint state affect the value of the nickel coin?
No matter if we talk about dollar coins, quarter coins, or nickel coins their value will always vary with the mint state. Every collector wants to own coins that look like they are freshly minted right this moment.
An uncirculated coin is a holy grail in numismatics. They are always very rare and expensive especially those that originate before the 1800s. There are four main factors that determine the quality of a Mint State coin and those are:
- Contact marks on the surface – Always look at the surface of the coin with a lot of attention. Search for small scratches and slight dents. If you see them don’t worry, these are acceptable since they occur in the mint as well due to handling and manufacturing processes.
- Luster – Shine and gloss are a must when we talk about coins. A freshly minted coin will always have a perfect shine on its surface. To check the gloss you should expose the coin to a single light source and turn it. If a light beam spin and dance around the surface your coin is in perfect condition.
- Fine minor scratches – If your coin has a few very small and fine scratches you shouldn’t be concerned. These are called hairlines, considering they remarkably look like hair. Scratches of this type spread evenly across the whole coin’s surface. In most cases, they are a result of a coin touching a cloth or some mildly abrasive material.
- Eye appeal – This does not need any special explanation. Every collectible item depends on eye appeal. In the case of a coin’s eye appeal. It refers to a general appearance.
Where Should You Buy Or Sell Your Valuable Nickels?
If you are a beginner the first thing you need to do is to find a trusted dealer or institution. When buying or selling your valuable collectible item, no matter the type, you must be sure you won’t be scammed. This is especially important when we talk about very valuable collectibles such as art, jewelry, coins, banknotes, stamps, and error coins.
Even some experienced collectors have a hard time recognizing a real coin from a fake one, so having a specialized sidekick will help a lot. You don’t go buying a house without a real estate expert right? The same principle goes here.
Coins are very tricky for estimation since the error can be overseen, or you can end up buying an error coin which in fact isn’t a true error coin. As always, we recommend that your first option should be a reliable auction house or reputable coin web pages such as Heritage Auctions, PCGS, Coins For Sale, or Littleton Coin Company.
Finally, if you are selling coins you should explore places like eBay, Etsy, and LiveAuctioneers to learn how the competitors priced their coins and how popular the coin is currently. Unfortunately, buying on these web platforms is always risky. Before you make any purchase always consult with a specialist or someone who is much more experience.
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FAQ
What nickels are made from silver?
Collecting coins made from precious metal is naturally a desirable thing to do. Of course that a silver or gold coin will always be worth more than a nickel-copper coin. Luckily for you, nickels minted in the United States between 1942 and 1945 are made of 35% silver. You can also hear collectors calling them “silver war nickels.”
All other nickels are composed of 75% copper and 25% nickel. However, during the war, due to the pressing need for industrial metals such as nickel, coins in that period were actually made from 35% pure silver. The rest of the combination includes 56% copper and 9% manganese.
How can I recognize a war nickel?
You won’t be able to recognize them at first glance. Honestly, these silver nickels are so similar to the copper-nickel inheritors that even an experienced collector can confuse them at first. In most cases, you’ll see the same portrait of Thomas Jefferson on the obverse side, and since the color is identical you won’t be able to distinguish them easily.
However, there are a few key visual differences you must learn that will help you make a difference between nickel and silver nickel coins. The first one, and the easiest one is to check for the minting year on the coin. Remember all nickels that were minted from 1942 to 1945 have a 35% silver composition.
Like on all other nickels, the reverse side of the coin features a familiar building we all know as Monticello. However, the difference is that on the silver war nickels, the mintmark is placed on this side of the coin and above Monticello.
As You Can See Nickles Can Be Worth Millions
A lot of people might give up on collecting nickel coins since their denomination is so low that they don’t see the point. However, the fact is that these coins are pretty valuable if you find those rare gems among them. There are a lot of valuable and unique nickel coins in circulation nowadays, all you have to do is pay attention.
We’ve all seen in the table in this article that some nickels are worth millions. In fact, the most expensive one is sold for over $4 million! Talking about true face value! While there are a lot of different value nickels on this list, you can’t deny that it is worth investing in them. Now, next time you get some pocket change take a good look in your hand, you might be holding a few grand at least.
Hopefully, this article answered some of the questions and helped you figure out how to handle your precious coins. In case you know some information that we didn’t mention here, please do not hesitate to share your opinions and advice in the comment section below.
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