The 1913 Liberty Nickel is one of the most famous and valuable coins in American history. Its rarity, coupled with an intriguing backstory, has made it a highly coveted piece among numismatists.
Only five known examples of this coin exist today, and they have fetched astronomical prices at auctions, with some selling for over $5 million. In this article, we will dive deep into the history, features, and value of the 1913 Liberty Nickel, and explain why it’s considered a holy grail in coin collecting.
History of the 1913 Liberty Nickel
The Liberty Head Nickel was minted from 1883 to 1912, and by 1913, the U.S. Mint had switched to the Buffalo Nickel. However, a small number of Liberty Nickels were mysteriously produced in 1913 without official authorization. This unauthorized minting is what gives the 1913 Liberty Nickel its legendary status.
How it Was Minted: It is believed that five 1913 Liberty Head Nickels were struck by an unknown Mint employee, possibly during the final days of the Liberty Nickel’s production in late 1912 or early 1913.
These five coins were never officially released by the U.S. Mint, but instead were quietly distributed and later surfaced in the numismatic world.
Why Is the 1913 Liberty Nickel Worth Over $5 Million?
The 1913 Liberty Nickel’s value stems from its extreme rarity, its unauthorized status, and the immense interest it has generated among collectors. The fact that only five of these coins exist makes it one of the rarest coins in the world, and the story behind its creation adds to its mystique.
Factors Contributing to Its High Value:
- Rarity: Only five known specimens exist, making the 1913 Liberty Nickel one of the rarest coins ever produced.
- Historical Significance: The unauthorized minting and the fascinating history behind this coin have turned it into a legendary piece.
- Auction Records: Over the years, the 1913 Liberty Nickel has broken several auction records, with prices exceeding $5 million for some examples.
- Condition: The condition of the five coins varies, with some being in almost perfect condition, further boosting their value.
The Five Known 1913 Liberty Nickels
Each of the five known 1913 Liberty Nickels has its own unique story and history. These coins are often referred to by the name of the collectors or owners who have held them over the years.
1. The Eliasberg Specimen
The Eliasberg Specimen is often considered the finest known example of the 1913 Liberty Nickel. It is graded Proof 66 by PCGS, making it one of the best-preserved examples. This coin was once part of Louis E. Eliasberg’s famous collection, and it sold for $5 million in a private sale in 2007.
2. The Olsen Specimen
The Olsen Specimen is perhaps the most well-known of the five nickels, as it was featured in several television appearances, including an episode of Hawaii Five-O. This coin is graded Proof 64 by NGC and was sold for $3.7 million in 2010.
3. The Walton Specimen
For many years, the Walton Specimen was believed to be lost after its owner, George Walton, died in a car crash in 1962. The coin resurfaced in 2003, after being authenticated as one of the five 1913 Liberty Nickels. It is graded Proof 63 by PCGS and has been valued at over $3 million.
4. The Norweb Specimen
The Norweb Specimen is named after the prominent Norweb family, who owned the coin until 1949. This coin is graded Proof 63 by NGC and is considered one of the finest examples of the 1913 Liberty Nickel.
5. The McDermott Specimen
The McDermott Specimen is unique in that it has the lowest grade of the five known 1913 Liberty Nickels, at Proof 55. Despite its lower grade, it remains an iconic piece and was sold for $1.35 million in 2003.
4. Value of the 1913 Liberty Nickel
The 1913 Liberty Nickel’s value has skyrocketed over the years, with some examples fetching prices that exceed $5 million at auctions. The coin’s rarity, historical significance, and condition are the primary factors driving its high value.
How to Spot a 1913 Liberty Nickel
Identifying a 1913 Liberty Nickel is straightforward, but because of its rarity, it’s unlikely you’ll come across one in circulation or even in many collections. However, if you happen to find a Liberty Nickel, here’s how you can tell if it’s the coveted 1913 version:
Obverse (Front):
- Liberty Head: The obverse features a portrait of Lady Liberty wearing a coronet inscribed with the word “LIBERTY.”
- Date: The key identifying feature is the date “1913” at the bottom.
Reverse (Back):
- V Design: The reverse displays a large Roman numeral “V,” indicating the coin’s denomination of five cents.
- Mint Mark: No mint mark should be present, as all 1913 Liberty Nickels were minted in Philadelphia.
Estimated Values of the 1913 Liberty Nickel
| Coin Specimen | Grade | Sale Price (Most Recent) | Estimated Value Range |
|---|---|---|---|
| Eliasberg Specimen | Proof 66 | $5 million (2007) | Over $5 million |
| Olsen Specimen | Proof 64 | $3.7 million (2010) | $3.7 million – $4.5 million |
| Walton Specimen | Proof 63 | Not sold recently | $3 million – $4 million |
| Norweb Specimen | Proof 63 | Not sold recently | $3 million – $4 million |
| McDermott Specimen | Proof 55 | $1.35 million (2003) | $1.35 million – $2 million |
Conclusion
The 1913 Liberty Nickel is more than just a coin; it’s a piece of American history that represents one of the most intriguing stories in numismatics. With only five known examples in existence, the coin’s rarity, coupled with its fascinating backstory, has turned it into a $5 million treasure. As one of the most coveted coins in the world, the 1913 Liberty Nickel is truly the crown jewel of coin collecting.
FAQs
Why is the 1913 Liberty Nickel so rare?
The 1913 Liberty Nickel is rare because only five examples were struck, likely without official authorization from the U.S. Mint. These coins were never released into general circulation, making them incredibly rare and valuable.
How much is a 1913 Liberty Nickel worth?
A 1913 Liberty Nickel can be worth anywhere from $1.35 million to over $5 million, depending on its condition and provenance.
Where can I find a 1913 Liberty Nickel?
Finding a 1913 Liberty Nickel is extremely unlikely unless you are attending a major coin auction or museum exhibit. All five known specimens are accounted for, with some residing in private collections and others in museums.
How many 1913 Liberty Nickels exist?
Only five 1913 Liberty Nickels are known to exist. Each of these coins has been well-documented and is considered one of the rarest coins in U.S. history.
