US Nickel Collectors Guide to Value and Popularity

If you're a US nickel collector, you're likely looking to increase your knowledge and potentially add to your collection. The 1913 Liberty Head nickel is one of the rarest and most valuable US nickels, with a price tag of up to $4 million.

The Buffalo nickel, designed by James Earle Fraser, was minted from 1913 to 1938 and features a striking design of an American bison on the reverse side. Its value can range from $0.50 to $100 in good condition.

In terms of popularity, the 1943 copper nickel is a highly sought-after coin due to its unique composition and short production run. It's estimated that only 40,000 to 50,000 of these coins were minted.

The 1950s and 1960s saw the introduction of new design elements, including the Jefferson nickel, which features a portrait of Thomas Jefferson on the obverse side. These coins are still relatively affordable, with prices ranging from $1 to $10.

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The Jefferson Nickel was first struck by the U.S. Mint in 1938 and was a replacement for the buffalo nickel.

Over 30 million Jefferson Nickels were struck in 1938, which is a staggering number considering it was the first year of production.

The Jefferson Nickel was used during wartime, from 1942-1945, when nickel was preserved for the war effort by minting the coin with silver instead.

More than 30 million Jefferson Nickels were struck in 1938, making it a significant production year for the coin.

The U.S. Mint produced the Jefferson Nickel at three separate facilities: Philadelphia, Denver, and San Francisco.

It's interesting to note that the Jefferson Nickel was not widely seen in circulation until 1940, almost two years after it was first produced.

The Jefferson Nickel remains a classic U.S. Mint circulation coin and is still produced by the U.S. Mint today.

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The design of the US nickel has undergone significant changes over the years. The Buffalo nickel, minted from 1913 to 1938, featured a Native American on the obverse and an American bison on the reverse.

The identities of the models for the Native American and the bison are not known with certainty, but it's believed that the Native American was a type, rather than based on a specific individual. The animal on the reverse was likely an American bison, but the exact model is disputed.

The Jefferson Nickel, minted from 1938 to 2004, featured a portrait of Thomas Jefferson on its obverse and his plantation, Monticello, on the reverse.

Additional reading: Bison Nickel Value

The design of the Buffalo nickel, also known as the Indian head nickel, has a fascinating history. The Native American on the obverse was a type, rather than based on a specific individual.

The identities of the models for the Native American and the bison on the reverse are not known with certainty. Fraser identified various Native Americans as models, including Iron Tail, Two Moons, and Big Tree.

The bison on the reverse was an American bison, but its exact identity is disputed. Fraser stated that the model was Black Diamond, who lived at the Central Park Zoo in New York City. However, Black Diamond was never at the Bronx Zoo, where Fraser claimed it lived.

The coin was referred to as the "Buffalo nickel" from its inception, reflecting the common name for the bison.

The Westward Journey Commemoratives series was a significant milestone in the evolution of US coin design.

In 2004, the Mint used John Flanagan's original 1938 nickel obverse, with two new reverse designs created by Norman E. Nemeth and Al Maletsky.

The 2005 obverse was struck during that year only, featuring a design by sculptor Joe Fitzgerald based on Houdon's bust of Jefferson.

The legend "LIBERTY" on the obverse was traced from Jefferson's handwriting in drafting the Declaration of Independence.

Jamie Franki designed the reverse for the first half of 2005, depicting an American bison, recalling the Buffalo nickel.

The reverse for the second half of 2005 showed a coastline and the words "Ocean in view! O! The Joy!", from a journal entry by William Clark.

Since 2006, a Franki design has been used for the obverse, depicting a view of Jefferson from the front based on an 1800 study by Rembrandt Peale.

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The image of a forward-facing Jefferson is a fitting tribute to his vision, according to Acting Mint Director David Lebryk.

The reverse beginning in 2006 was again Schlag's Monticello design, but newly sharpened by Mint engravers.

Schlag's initials were placed on the reverse to the right of Monticello, as his obverse design is no longer used.

Related reading: 1943 Steel Penny Value 2022

The value and rarity of US nickels can vary greatly depending on several factors. Some nickels are worth a lot more than their face value due to their age, rarity, or unique characteristics.

Pre-World War I nickels are particularly valuable due to their limited mintage and high demand. In fact, the 1867 Shield Nickel, a proof with rays, is worth a whopping $132,250.

Certain years of nickels are also more valuable than others. War nickels, made with additional silver and manganese between 1942 and 1945, are worth more than their face value. Some nickels from the 1950s, with low mintage numbers, also have higher market values.

Here are some of the most valuable nickels of all time:

The price of metals used in coins can fluctuate greatly, making it challenging for the US Mint to keep up with production costs. In the early 2000s, the cost of manufacturing a nickel rose from 3.46 cents in 2003 to 10.09 cents in 2012.

The rising cost of nickel and copper led to a significant increase in the melt value of nickels. For a short period in May 2007, the melt value of a nickel even exceeded its face value by more than 50%.

The US Mint responded by introducing new rules in 2006 to prevent the melting and export of pennies and nickels. Violators could face fines of up to $10,000 and five years in prison.

By late 2008, the melt value of a nickel had fallen below its face value, but it rose again in 2012. The Mint has been exploring alternative materials for the nickel coin, including copper-plated zinc and nickel-plated steel.

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Some nickels are worth a pretty penny, especially if you're a coin collector. The 1913 Liberty Nickel, also known as The Olsen Specimen, is the most valuable nickel of all time, selling for a whopping $3,737,500.

Certain years of nickels are more valuable than others due to their rarity and demand. Pre-World War I nickels, for instance, are highly sought after by collectors, making them worth a pretty penny.

Older nickels tend to be more valuable due to limited mintage and high demand. This is especially true for nickels from the 1860s, like the 1867 Shield Nickel, which can sell for up to $132,250.

Some nickels are worth more than their face value due to their unique composition. War nickels, for example, were made with additional silver and manganese to save nickel metal for the war effort, making them worth a bit more than their face value.

The value of nickels can fluctuate over time, depending on the demand for their metal composition. In 2007, the melt value of a nickel was over one-and-a-half times its face value, making it more expensive to produce than to melt down.

Here are some of the most valuable nickels, along with their estimated values:

Overall, the value of nickels can vary greatly depending on their rarity, demand, and composition.