New US Nickel Coins and Their History

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Detailed image of stacked American coins including pennies and nickels, representing savings and finance.
Credit: pexels.com, Detailed image of stacked American coins including pennies and nickels, representing savings and finance.

The US nickel has a rich history, and its design has changed over time. The first nickel coin was introduced in 1866.

The 1866 nickel was designed by James B. Longacre and featured a shield on the obverse (front) and a wreath on the reverse (back). It was made of 75% copper and 25% nickel.

The 1913 Liberty Head nickel was a rare coin that featured a portrait of Lady Liberty on the obverse and a shield on the reverse. Only five of these coins were produced.

The Buffalo nickel, designed by James Earl Fraser, was introduced in 1913 and featured a bison on the reverse and a portrait of Thomas Jefferson on the obverse.

History of the US Nickel

The nickel has been a staple in American commerce for over a century. In the 1890s, coin-operated machines became popular, and the nickel was the coin of choice for these machines.

These machines could be placed in businesses, required little maintenance, and brought in money for owners. The nickel was used in machines that vended food, provided amusement, and even facilitated gambling.

Credit: youtube.com, The Complete History of the US Nickel

The nickel's popularity led to the creation of new businesses, such as the automat, where patrons would serve themselves by inserting a nickel into a mechanism and removing a sandwich or dessert. The first automat was established in Germany, but was popularized in the United States by Horn & Hardart.

The nickel was also used to gain admission to nickelodeon cinemas, where a nickel bought admission to view a series of one-reel short films. These films ran continuously from early afternoon until late at night, and patrons were free to remain as long as they liked.

The nickel's circulation expanded throughout the nation by 1900, due to good economic conditions and high demand for the coin. By 1906, the Denver and San Francisco Mints began striking nickels, in addition to the Philadelphia Mint.

Design and Value

The new US nickel design has undergone significant changes over the years. The first nickels minted in 1866 featured a shield on the obverse, or front side.

Credit: youtube.com, Five-Cent coin Evolution: The Story of the U.S. Nickel

The shield was replaced by a Roman numeral "V" in 1867. The Roman numeral "V" was used to represent the value of the nickel.

The Liberty Head design, introduced in 1883, featured a portrait of Lady Liberty on the obverse. The Liberty Head design was minted until 1913.

The Buffalo nickel, designed by James Earle Fraser, was introduced in 1913. The Buffalo nickel featured an image of a Native American on the obverse.

The Jefferson nickel, designed by Felix Schlag, was introduced in 1938. The Jefferson nickel features a portrait of Thomas Jefferson on the obverse.

The Jefferson nickel has undergone several design changes since its introduction. One of the most notable changes was the addition of a copper-plated zinc coin in 1943.

The copper-plated zinc coin was used to conserve copper during World War II. The nickel returned to its traditional composition of 75% copper and 25% nickel in 1944.

Frequently Asked Questions

Why are 2024 nickels so expensive?

The 2024 nickel is scarce due to a significant reduction in production, with fewer than 70 million coins minted compared to the usual 1 billion. This limited supply has driven up demand and made them a collectible item.

How much is a 2005 Buffalo Nickel worth today?

A 2005 Buffalo Nickel is worth around 5 to 10 cents in circulated condition, but its value may be higher if it's a rare or error coin. Check its condition and composition to determine its true worth.

Mike Kiehn

Senior Writer

Mike Kiehn is a seasoned writer with a passion for creating informative and engaging content. With a keen interest in the financial sector, Mike has established himself as a knowledgeable authority on Real Estate Investment Trusts (REITs), particularly in the UK market. Mike's expertise extends to providing in-depth analysis and insights on REITs, helping readers make informed decisions in the world of real estate investment.

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