Coin Profiles: The 1913 Liberty Head Nickels

For many years, coins have been made with the sole purpose of public distribution and circulation. It is also known, however, that because of some important events in history that regards with the general economy and the succession of power, some coins were created in very low quantities. Some maybe made during the Great Depression, or some unexpected abdication of throne, or simply just from unreleased coin dies and were, therefore, deemed unofficial.

These rare coins are prized highly in present day numismatics. One of the most valued coins today is the 1913 Liberty Head Nickel. It was produced in extremely low quantities since it is in the year 1913 when Indian Buffalo head nickels were produced. The new design was used since February, and it replaced the Liberty Head design. Because of this, all 1913 nickels were believed to be with the Indian Buffalo design.

It was not until Samuel Brown, an American numismatist, displayed an ad to buy these coins at a $500 USD value in 1919 that the existence of these coins was in question. In a numismatic convention in 1920, Brown displayed the five known 1913 Liberty Head Nickels, and from then only five of these coins were known to exist.

In 1972, one of the five Liberty Head nickels were sold for $100,000. In 1996, it was the first coin to break the million dollar barrier. In 2003, one was reportedly sold for a value under $3 million and in 2010, the Olsen piece was sold for $3.7 million at a public auction. Today, two of these rare nickels are under museums, while three are in private collections. The five Nickels are:

1. The Norweb Specimen, which is currently in the Smithsonian Institution
2. The Olsen Specimen
3. The Eliasberg Specimen, currently graded PCGS PR64
4. The Walton Specimen, the finest known and is currently graded PCGS PR66
5. Mcdermott Specimen, currently in American Numismatic Association Money Museum.

The reason why these 1913 Liberty Head Nickels are most prized isn't because of rarity alone. There are much rarer coins like the 1870-S Half Dime and 1873-CC Without Arrows Dime. What makes the 1913 Liberty Nickels a prized rarity in numismatics is because of the mystery of how they were made and who owned them before Brown took a hold of them.

The 1913 Liberty Nickels are also considered the Mother of Hype coins. It is because of the mystery surrounding the coins that millions of collectors have become very eager to get one. Because of this, the nickels' value has skyrocketed to millions and has become one of the most prized coins in numismatist history.

Coin collection requires a keen eye and a thing for future trends to make it into a valuable and rewarding business. Coin collectors, back in the days, were rich businessmen who used the coins as an investment or a family heirloom. Today, anyone can start his or her own coin collection. With the help of a reputable coin shop like Colonial Acres Coins, you are sure to get a head start at coin-collecting and be a coin enthusiast in no time.