Which Nickels Are Worth More Than Their Face Value?

Many nickels are worth only their face value, but certain five-cent pieces hold significant worth for collectors. Increased value stems from characteristics that make a coin unique or scarce. Understanding these elements helps identify nickels with considerable numismatic value. This article explores attributes that elevate a nickel’s worth beyond its initial denomination.

Factors Influencing Nickel Value

Several factors contribute to a nickel’s value in the collector’s market. Rarity is a driver, often dictated by low mintage numbers for a particular year or mint. Coins produced in smaller quantities generally become more sought after over time. Specific dates and mint marks, indicating where the coin was struck, also play a significant role in determining value.

Beyond mintage figures, certain varieties or errors created during the manufacturing process can increase a nickel’s worth. These include doubled dies, where the coin’s design appears partially duplicated, or overdates, where one date is stamped over another. Historical significance or unique circumstances surrounding a coin’s production can also elevate its appeal to collectors.

Specific Valuable Nickel Types

Collectors often seek out specific series and individual nickels due to their historical importance or unique characteristics. The Shield Nickel, minted from 1866 to 1883, was the first five-cent piece made of copper-nickel. Early issues from 1866 and 1867 can be distinguished by “rays” between the stars on the reverse, a feature removed mid-1867 due to striking difficulties. Rarer dates within this series include 1877 and 1878, produced only as proof coins, and the 1883 3 Over 2 variety, where the date was stamped over an earlier one.

The Liberty Head Nickel, also known as the “V” nickel, was minted from 1883 to 1912. The 1913 Liberty Head Nickel is an unusual and valuable example, with only five pieces known to exist, despite its official production ending in 1912. Key dates include the 1885 and 1886 issues, along with the 1912-S, which had a limited mintage of 238,000 coins. An early variety from 1883, initially struck without the word “CENTS” on the reverse, became valuable due to its resemblance to gold coins, prompting a rapid redesign to include the denomination.

Buffalo Nickels, produced from 1913 to 1938, are well-known for their artistic design and numerous varieties. The 1913-S Type 2 features a redesigned reverse, where the “FIVE CENTS” inscription was recessed to prevent wear. Errors include the 1916 Doubled Die Obverse, showing clear doubling on the date, and the 1918-D 8 over 7, an overdate where an 8 was stamped over a 7. Another error is the 1937-D “3-legged” Buffalo Nickel, resulting from excessive die polishing that removed one of the buffalo’s legs.

Jefferson Nickels, first introduced in 1938 and still in production, also feature variations. During World War II, from 1942 to 1945, nickels were made with a composition of 35% silver, 56% copper, and 9% manganese to conserve nickel for the war effort. These “Wartime Nickels” are identifiable by a large mint mark (P, D, or S) located above Monticello on the reverse. Errors include the 1939 Doubled Monticello variety, where the reverse lettering appears doubled, and the 1943-P 3 Over 2, an overdate error. The 1942-D D Over Horizontal D is another error, showcasing a repunched mint mark with a horizontal “D” underneath the primary one.

Assessing Nickel Condition

A nickel’s physical condition impacts its market value. Coins are graded on the Sheldon 70-point scale, where 1 represents a heavily worn coin and 70 signifies a flawless, mint-fresh specimen. Even slight differences in wear can translate into value changes for rare dates or varieties. For instance, a coin graded “Good” (G-4) will show heavy wear with only the main outlines of the design visible, while a “Fine” (F-12) coin will have clearer lettering and some detail.

As the grade improves, more of the original design details become apparent, leading to higher valuations. “Extremely Fine” (EF-40) coins show only slight wear on the highest points, and “About Uncirculated” (AU-50 to AU-58) coins display minimal wear, often only on a few high points. “Mint State” (MS-60 to MS-70) coins show no signs of circulation wear, with higher numbers indicating better luster, strike quality, and fewer imperfections. While professional grading services exist, understanding these basic condition markers allows an individual to roughly assess their nickel’s state of preservation.

Finding Current Nickel Values

Determining a rare nickel’s value involves consulting numismatic resources. Numerous online coin price guides provide estimated values based on date, mint mark, and condition. Websites of reputable coin dealers and numismatic organizations also offer extensive databases and current market information.

It is advisable to look for recent sales data of comparable coins, as market values can fluctuate based on demand and availability. For nickels suspected of being valuable, typically those with significant errors or extremely low mintages, seeking an appraisal from a professional coin appraiser or submitting the coin to a third-party grading service is a prudent step. These services can authenticate the coin and provide an objective, standardized grade, which helps maximize its market value.