In the realm of numismatics, few coins have garnered as much intrigue and value as the 1913 Liberty Head Nickel.
With only five known specimens, this coin has captivated collectors and historians alike, achieving sales upwards of $5 million. Its rarity, mysterious origins, and storied past contribute to its esteemed status in coin collecting circles.
Origins of the 1913 Liberty Head Nickel
The Liberty Head Nickel, designed by Charles E. Barber, was minted from 1883 to 1912. In 1913, the U.S. Mint transitioned to the Buffalo Nickel design, officially ceasing production of the Liberty Head design.
However, five Liberty Head Nickels bearing the 1913 date were clandestinely produced, despite lacking official authorization. The exact circumstances of their minting remain shrouded in mystery, with many attributing their creation to Samuel W. Brown, a former Mint employee.
In 1919, Brown publicized the existence of these coins by placing an advertisement offering to buy any 1913 Liberty Head Nickels for $500 each, later revealing that he possessed all five.
The Five Known Specimens
Each of the five 1913 Liberty Head Nickels has a unique history and has passed through various notable hands:
| Specimen Name | Current Location | Notable Owners | Distinctive Features |
|---|---|---|---|
| Eliasberg Specimen | Private Collection | Louis E. Eliasberg Sr., Legend Numismatics | Graded PR66 by PCGS; finest known example |
| Olsen Specimen | Private Collection | King Farouk of Egypt, Dr. Jerry Buss | Featured on “Hawaii Five-O” TV show |
| Walton Specimen | Private Collection | George O. Walton, Walton heirs | Misidentified as counterfeit for decades; authenticated in 2003 |
| McDermott Specimen | American Numismatic Association Money Museum | J.V. McDermott, Aubrey and Adeline Bebee | Only specimen with circulation marks |
| Norweb Specimen | Smithsonian Institution | Samuel W. Brown, Edward Howland Robinson Green | Part of the National Numismatic Collection |
Record-Breaking Sales
The allure of the 1913 Liberty Head Nickel has led to record-breaking sales:
- Eliasberg Specimen: Sold for $5 million in a private transaction in 2007, setting a record for the coin at that time.
- Olsen Specimen: Achieved a sale price of $3.7 million in 2010.
- Walton Specimen: After being authenticated in 2003, it was sold for $3.1 million in 2013.
These figures underscore the coin’s immense value and desirability among collectors.
The Coin’s Design
The 1913 Liberty Head Nickel features:
- Obverse: A left-facing portrait of Lady Liberty adorned with a coronet inscribed with the word “LIBERTY.” Thirteen stars encircle the periphery, representing the original thirteen colonies.
- Reverse: A large Roman numeral “V” denotes the coin’s five-cent denomination, surrounded by a wreath. The words “E PLURIBUS UNUM” are inscribed below the denomination.
This design was the standard for Liberty Head Nickels from 1883 until their discontinuation in 1912.
The Coin’s Mystique in Popular Culture
The enigmatic nature of the 1913 Liberty Head Nickel has permeated popular culture:
- Television: The Olsen Specimen was featured in a 1973 episode of the TV series “Hawaii Five-O” titled “The $100,000 Nickel,” highlighting its cultural significance.
- Literature: The coin has been the subject of various numismatic studies and articles, further cementing its legendary status among collectors and enthusiasts.
Factors Contributing to Its Value
Several elements contribute to the extraordinary value of the 1913 Liberty Head Nickel:
- Rarity: With only five known specimens, its scarcity significantly elevates its worth.
- Historical Significance: The coin’s unauthorized minting during a transitional period in U.S. coinage adds to its historical intrigue.
- Condition: The preservation and grading of each specimen play a crucial role in determining its market value.
- Provenance: The rich history of ownership, including possession by prominent collectors and appearances in popular media, enhances its desirability.
FAQs
Why were the 1913 Liberty Head Nickels minted without authorization?
The exact reason remains unclear. However, it’s widely believed that Samuel W. Brown, a Mint employee at the time, secretly produced the coins before the Mint transitioned to the Buffalo Nickel design.
How can I identify a genuine 1913 Liberty Head Nickel?
Authenticating a 1913 Liberty Head Nickel requires expert analysis, including metallurgical tests and provenance verification. Due to the coin’s rarity and value, it’s advisable to consult professional numismatists or grading services.
Are there any other unauthorized coins similar to the 1913 Liberty Head Nickel?
While the 1913 Liberty Head Nickel is unique in its circumstances, other coins, such as the 1933 Double Eagle, were also minted without proper authorization and have become highly valuable collectibles.