Understanding Nickels
Nickel Composition and Properties
Nickels are coins commonly used in the United States as the five-cent denomination.
The composition of these coins typically consists of 75% copper and 25% nickel alloy.
However, for a brief period between 1942-1945, the composition was altered to include manganese to address the emergency of World War II.
This stable composition through the years can be seen as early as the first issuance of the Shield nickel, dating back to 1866.
Nickel Coinage and Minting
From its inception, the nickel has gone through various design changes, each with its unique story and historical significance.
Some notable types of nickels include the Shield Nickel (1866-1883), Liberty Head Nickel, or V Nickel (1883-1913), the Buffalo Nickel (1913-1938), and the current Jefferson Nickel.
Nickel coinage production primarily occurs at the United States Mint branches in Philadelphia, Denver, and San Francisco.
Mint marks, such as “P” for Philadelphia, “D” for Denver, and “S” for San Francisco, are often used to denote the specific mint location where the coin was produced.
Additionally, special proof coins are struck for collectors, featuring a higher degree of detail and finish than circulating coins.
Historical Significance of Nickels
The nickel coin possesses a significant place in American history, being closely tied to key events and notable figures.
For example, one of the iconic designs—the Jefferson Nickel—features the effigy of Thomas Jefferson, primary author of the Declaration of Independence and the third President of the United States.
This design was introduced in 1938 to commemorate the bicentennial of his birth.
Moreover, it also pays homage to the Louisiana Purchase and Lewis and Clark expedition.
Joseph Wharton, an industrialist from Pennsylvania, played a crucial role in the inception of the nickel coin.
He was instrumental in lobbying Congress to introduce nickel coinage as an alternative to other fractional currency such as the smaller silver coins that prevailed at the time.
As a result, the Coinage Act of 1866 was passed, authorizing the production of the first nickel—the Shield Nickel.
In conclusion, nickels not only function as an essential component of pocket change but also tell a story of the rich history and people who played a crucial role in American numismatics.
These coins hold a special place in the hearts of collectors and enthusiasts alike, with the American Numismatic Association helping to promote the study and appreciation of these important numismatic artifacts.
Collecting and Valuation of Nickels
Notable Nickels in U.S. History
Nickels have a rich history in the United States, with several different designs such as the Shield Nickel (1866-1883), Liberty Head Nickel (1883-1912), Buffalo Nickel (1913-1938), and the Jefferson Nickel (1938-Present).
Among these designs, the 1913 Liberty Head Nickel is considered extremely rare, with only five specimens known to exist.
During World War II, from 1942-1945, silver was introduced in nickels due to wartime shortages of nickel.
These “silver wartime issues” are sought after by collectors for their unique composition and historical context.
Determining Nickel Value and Rarity
The value of a nickel depends on factors such as rarity, condition (circulated or uncirculated), and historical significance.
Some nickels can be worth just a few cents, while others might fetch thousands of dollars.
For example, the 1926-S Buffalo Nickel is one of the rarest and most valuable due to its limited mintage and poor striking quality, making it difficult to find in good condition.
To determine the value of a specific nickel, collectors and numismatists often use coin value guides, consult with dealers, or compare the values of similar coins sold at auction.
Starting and Maintaining a Collection
Collecting nickels can be a fun and rewarding hobby for both beginners and experienced numismatists.
To start, collectors may focus on acquiring circulated coins of various designs such as Shield Nickels, Buffalo Nickels, and Jefferson Nickels. They might also consider seeking nickels with unique features like the Westward Journey Nickel Series or the Return to Monticello nickels.
Maintaining a collection involves storing coins in appropriate holders, such as albums or protective cases, to preserve their condition.
Additionally, collectors should keep track of their inventory, particularly the valuable nickels, and periodically consult with dealers or fellow collectors to stay updated on coin values and trends in the numismatic world.