The chances of reaching into your pocket and pulling out a coin worth a small fortune are very low. However, many U.S. coins are worth more than their face value. Some of them are still in circulation as well. However, the nickel provides you with the best chance of finding something valuable in your pocket change. So if you have coins laying around, you may want to check if you have any of these rare nickels.
Do You Have Any of These Rare Nickels?
The Liberty Head Nickel
The Liberty Head nickel is a design that features a classic head of the goddess of Liberty on the obverse side. Collectors may also call the “V nickel” for the roman numeral on the reverse side. This design was in circulation from 1883 until 1912.
While many examples in good condition are worth much more than their face value, it’s the 1913 Liberty Head nickel that is the most elusive and the most valuable. Although there is no official record of them ever being authorized or minted, five 1913 Liberty Head nickels have been found. It is still uncertain how they came to exist. But, there is some suspicion that the first owner of the five known specimens, Samuel W. Brown, may have played a role. As a former employee of the mint in Philadelphia, he may have had access to coins that were never authorized for production.
Today, there are three on public display: one at the Smithsonian Institution in Washington, D.C., and two more at the ANA’s Money Museum located in Colorado Springs, CO. If you are lucky enough to find one of these, it will fetch millions at auction. In 2010, one sold for $3.7 million; another went for $3.1 million in 2013. However, the 1913 Liberty Head coin that sold for $4.5 million in 2018 is one of the most expensive coins ever to come up at auction.
The Buffalo Nickel
The Buffalo nickel is one of the most iconic nickel designs and U.S. coins ever made. The U.S. mint produced the Buffalo or Indian Head nickel from 1913 to 1938. However, it proved to be a difficult coin to mint. There were several attempts to adjust the design, but the dates were prone to wear quickly. Therefore, Congress voted to retire the design after the 25-year minimum.
The dies for the buffalo nickel wore out three times faster than the previous design. And, it produced several errors that have led to some very valuable coins.
- The 1918-17 Buffalo nickel minted in Denver contains an overdate error that looks as if the final digit of the date had an 8 that was recast over a 7. However, no one noticed the error until the 1930s, making it even harder to find examples in good condition. One sold for $350,000, but even worn examples could get you $1,000.
- The 1926 Buffalo nickels from San Francisco are rare since they have the lowest mintage of all Buffalo nickels. One coin in pristine condition sold for $322,000 at auction.
- The 1916 Buffalo nickel is famous for its double die and the doubling of the final number of the date. Since it took numismatics 43 years to discover the mistake, examples in good condition are hard to come by. One coin sold for $281,000, but even one in average condition could bring $10-$20,000.
The Shield Nickel
The Shield nickel was the first five-cent piece ever struck from the copper-nickel alloy that we still use today. And, it was the first coin ever referred to as a nickel. This design was issued after the Civil War and circulated from 1866 to 1883. The design symbolized the strength of a unified nation.
Unfortunately, the coin was notoriously difficult to strike and had several modifications that created multiple varieties of this coin. It became so problematic that the U.S. government paused production for two years in 1876, and only struck small batches through 1882.
The 1867 Shield nickels are extremely rare, with only 60 known examples that contained a new reverse design. One nickel in top condition sold for around $132,000. Many collectors hope there are more of these out there. The 1880 Shield nickels are also highly sought after. It is among the rarest examples since they only minted 16,000 for circulation. One of these sold for $117,000 at auction.
The Jefferson Nickel
The Jefferson nickel is the design you are probably most familiar with. The obverse side features the traditional profile of Thomas Jefferson and circulated from 1938 to 2004. The latest design updated the image of the president with the Westward Journey series. But, the reverse side had different commemorative designs to highlight the Lewis and Clark Expedition.
Some of the most desirable Jefferson nickels date back to World War II. When the U.S. mint limited the use of nickel, the composition of these coins changed to a combination of copper, silver, and manganese, making it one of the most valuable coins based on the intrinsic value of the materials.
Since the government produced this coin for so many years, there are several years with mint errors that increase the value.
- The 1964 nickels in Special Mint Sets with matte proof are hard to find. One in top condition sells for around $8,750.
- The 1942 Jefferson nickels from the Denver mint have a double striking of the D, making them worth more than $4,600.
- Any examples of the 1939 nickels with the doubling effect on the word “Monticello” sell for around $1,500.
Improving Your Chances to Find Rare Nickels
One method that coin collectors use to increase their odds of finding rare nickels is coin roll searching. When you visit a local bank or grocery store, you can exchange currency for a roll of nickels. This vastly increases your chances of finding something valuable since you can look through larger quantities of nickels. If you find one you want to keep, swap it out with another nickel. Some locations will let you return the roll, trade it for another, and continue the process.
Lastly if you don’t want to buy a bunch of rolls and search through them, you can always check your coin collection and see if any of your nickels are valuable.
Do you have a rare nickel? Share your finds below!
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