In the realm of rare coins, few specimens capture the imagination quite like the 1913 Liberty Head V Nickel.
This enigmatic five-cent piece, shrouded in mystery and controversy, has become a legend in numismatic circles and beyond.
With only five known examples in existence, it stands as one of the most coveted and valuable coins in American history.
Let’s delve into the fascinating story of this numismatic unicorn, exploring its origins, its journey through time, and its impact on the world of coin collecting.
The Birth of a Legend
The tale of the 1913 Liberty Head V Nickel begins not with its minting, but with its very existence.
Officially, the United States Mint had ceased production of the Liberty Head design in 1912, replacing it with the Indian Head (or Buffalo) nickel in February 1913.
Yet, against all odds and official records, five Liberty Head nickels bearing the date 1913 surfaced in the numismatic community.
The circumstances surrounding the creation of these coins remain shrouded in mystery.
No official records exist of their production, leading to speculation that they were struck clandestinely, possibly by a mint employee with access to the necessary dies and planchets.
This air of intrigue has only added to the coin’s allure over the decades.
The Cast of Characters
The story of the 1913 Liberty Head V Nickel is as much about the people involved as it is about the coin itself. Key figures in this numismatic drama include:
- Samuel W. Brown: A former mint employee who first brought the coins to public attention in 1920, offering to buy any 1913 Liberty nickels for $500 each in a numismatic publication.
- Eric P. Newman: A renowned numismatist who acquired all five specimens in the 1940s for $2,000 each, and played a crucial role in researching and promoting the coins.
- King Farouk of Egypt: The eccentric monarch who owned one of the nickels as part of his vast coin collection.
- B. Max Mehl: A prominent coin dealer who helped popularize the 1913 Liberty Head V Nickel through aggressive marketing campaigns.
These individuals, among others, have contributed to the rich tapestry of lore surrounding the coin, each adding their own chapter to its ongoing saga.
The Five Known Specimens
Each of the five 1913 Liberty Head V Nickels has its own unique story and provenance. They are:
- The Eliasberg Specimen: Named after Louis E. Eliasberg Sr., who completed his collection of U.S. coins with this piece. It’s considered the finest of the five and sold for $5 million in 2007.
- The Olsen Specimen: Once owned by King Farouk, it gained fame as the “Hawaii Five-O” coin after appearing in an episode of the TV show. It last sold for $3.7 million in 2010.
- The Walton Specimen: Lost for decades and thought destroyed, it dramatically resurfaced in 2003. The coin had been in a car crash with its owner, George O. Walton, and was mistakenly declared a fake.
- The Norweb Specimen: Part of the Norweb family collection for many years, it now resides in the Smithsonian Institution.
- The McDermott Specimen: Named after J.V. McDermott, who often carried it as a pocket piece. It now belongs to the American Numismatic Association’s Money Museum.
The Value of Rarity
The extreme rarity of the 1913 Liberty Head V Nickel has driven its value to astronomical heights.
In the coin collecting world, rarity often trumps age or condition when it comes to value, and this nickel is a prime example of that principle.
From its first public sale for $3,750 in 1924, the coin’s value has skyrocketed:
In 1972, one specimen sold for $100,000, breaking records for a single coin sale.
By 1996, the price had climbed to $1,485,000.
In 2010, the Olsen specimen changed hands for $3.7 million.
The record stands at $5 million for the Eliasberg specimen, sold in 2007.
These figures place the 1913 Liberty Head V Nickel among the most valuable coins in the world, far exceeding the worth of many gold coins and rivaling the prices of fine art masterpieces.
Controversy and Authenticity
The unusual circumstances of the 1913 Liberty Head V Nickel’s creation have led to ongoing debates about its authenticity and legitimacy.
Some numismatists have questioned whether the coins were genuinely struck in 1913 or if they were backdated forgeries created later.
However, extensive metallurgical analysis and die studies have consistently supported the coins’ authenticity.
The respected grading services PCGS and NGC have authenticated all five specimens, lending credibility to their status as genuine, albeit unauthorized, U.S. Mint products.
Impact on Numismatics
The 1913 Liberty Head V Nickel has had a profound impact on the field of numismatics:
- Raising Public Interest: The coin’s story has captured public imagination, drawing attention to coin collecting as a hobby and an investment.
- Driving Market Trends: Its high-profile sales have influenced the rare coin market, setting benchmarks for value and desirability.
- Encouraging Research: The mystery surrounding its origin has spurred extensive research into mint practices and coin production history.
- Highlighting Conservation: The varying conditions of the five specimens underscore the importance of proper coin preservation and storage.
The Allure of the Unattainable
What makes the 1913 Liberty Head V Nickel so captivating, even to those outside the numismatic community? Several factors contribute to its enduring allure:
- Rarity: With only five known examples, it represents the pinnacle of coin rarity.
- Mystery: The circumstances of its creation add an element of intrigue that captures the imagination.
- Historical Significance: It represents a pivotal moment in U.S. coinage, bridging two iconic nickel designs.
- Cultural Impact: Its appearances in popular media and high-profile auctions have elevated it to legendary status.
- Investment Potential: Its consistent appreciation in value appeals to both collectors and investors.
Lessons from a Five-Cent Piece
The story of the 1913 Liberty Head V Nickel offers several lessons that extend beyond the world of coin collecting:
- The Value of Uniqueness: In a world of mass production, true rarity commands a premium.
- The Power of Provenance: The history and ownership chain of an object can significantly enhance its value and interest.
- The Importance of Authentication: In fields where high values are at stake, rigorous verification becomes crucial.
- The Role of Marketing: The coin’s fame owes much to savvy promotion by dealers and collectors over the years.
- The Endurance of Mystery: Unanswered questions can sustain interest and value over long periods.
The Future of the Five
As we look to the future, what lies ahead for the five 1913 Liberty Head V Nickels?
- Continued Appreciation: Given their rarity and fame, their value is likely to continue rising, barring any major market disruptions.
- Potential Discoveries: While unlikely, the possibility of a sixth specimen emerging cannot be entirely ruled out, which would send shockwaves through the numismatic world.
- Technological Advancements: New analytical techniques may shed further light on the coins’ origins and production methods.
- Cultural Significance: As tangible links to early 20th-century American history, their importance as historical artifacts may grow.
- Legacy Preservation: Efforts to ensure the long-term preservation and public accessibility of these coins are likely to intensify.
Rare 5 Cent Coin : More Than Just a Nickel
The 1913 Liberty Head V Nickel stands as a testament to the enduring fascination with rare and mysterious objects.
Far more than just a five-cent piece, it embodies the intersection of history, artistry, and human intrigue.
Its story continues to unfold, captivating new generations of collectors, historians, and curious onlookers.
For those fortunate enough to view one of these nickels in person, it offers a tangible connection to a pivotal era in American coinage and a glimpse into the shadowy corners of numismatic lore.
For the rest of us, it serves as a reminder that even the most humble objects can, under the right circumstances, become priceless treasures.
As we reflect on the journey of the 1913 Liberty Head V Nickel from obscurity to numismatic royalty, we’re reminded of the power of rarity, the allure of mystery, and the enduring human fascination with the extraordinary.
In a world where so much is mass-produced and disposable, these five nickels stand as shining examples of the value we place on the unique, the scarce, and the storied.
The saga of the 1913 Liberty Head V Nickel is far from over. As long as these five coins exist, they will continue to inspire, intrigue, and ignite the imaginations of collectors and non-collectors alike.
In the end, their true value lies not just in their metal content or their price at auction, but in the stories they tell and the wonder they evoke – a fitting legacy for a coin that, by all official accounts, should never have existed at all.