The V-Nickel, commonly referred to as the Liberty Head Nickel, derives its name from the Roman Numeral “V” (representing “5”) on its reverse. This five-cent coin, crafted by Charles Barber, the sixth Chief Engraver of the United States Mint, consists of 75% copper and 25% nickel. While collecting V-Nickels is relatively easy due to their high mintages, finding one of exceptionally high value can be challenging but rewarding.
In 1881, industrialist Joseph Wharton’s lobbying efforts led Mint Superintendent Archibald Loudon Snowden to task US Mint Chief Engraver Charles Barber with creating new designs for a cent, a three-cent nickel, and a five-cent piece. Snowden directed Barber to depict the classic head of Liberty along with the legend 'Liberty' and the date on the coin’s obverse. Additionally, Barber had to include a wreath of wheat, cotton, and corn around a Roman numeral designating the denomination on the reverse. The design was reworked by Barber in 1882 to include the phrase "E Pluribus Unum" on the reverse.
Production of the Liberty Head Nickels began on January 30, 1883, and they were introduced into circulation on February 1. However, Snowden received authorization to continue striking proof Shield Nickels concurrently with the new nickels for several months due to concerns about speculation.
The initial reception of the V-Nickel was positive. Its design was seen as a fitting representation of American ideals, with Lady Liberty depicted in a classical style reminiscent of ancient coinage. The coin quickly became a staple of American commerce, facilitating trade and everyday transactions.
Before 1883, the silver and copper-nickel three-cent pieces had circulated for years with only a Roman numeral to denote the coin’s denomination. Initially, it was thought unnecessary to include the word "cents" on the nickel. However, soon after the V-Nickel’s initial release, some tricksters realized the diameter of the new nickels was very similar to that of the five-dollar gold piece. By gold-plating the nickel, it could easily be passed off as five dollars.
This led to widespread fraud, with unscrupulous individuals gold-plating the nickels and passing them off as five-dollar gold coins. The mint quickly responded by halting production of the Liberty Head Nickel until Barber modified the design to include the word “Cents” at the bottom of the reverse. The revised nickel design was released on June 26, 1883, coinciding with the cessation of Shield Nickel production.
The V-Nickel was manufactured for 29 years until late 1912, when the Liberty Head design was replaced by sculptor James Fraser’s Buffalo Nickel. This transition marked the end of an era for the V-Nickel, but its legacy continues to be celebrated by collectors and historians alike.
The design of the V-Nickel remained largely consistent throughout its production. One notable exception occurred in its first year of issue when the design was modified to include the word “Cents” on the reverse. This change was crucial in preventing further fraud and restoring public confidence in the coin.
Coin images sourced from: National Numismatic Collection, National Museum of American History
Because of this change, the first Liberty Head V-Nickel put into circulation is known as the 1883 “No Cents” Nickel, while the modified issue gained the moniker 1883 “With Cents.”
Throughout its production, the V-Nickel maintained a consistent design, with Lady Liberty on the obverse and the Roman numeral “V” on the reverse. The coin’s simplicity and elegance have made it a favorite among collectors.
Depending on the year of mintage and the coin’s condition, the Liberty Head Nickel can be worth a significant amount. However, only about four varieties of this coin have been valued above $1,000 in certain conditions. One of those varieties, the 1913 P, has only five confirmed coins in existence and is exceedingly rare.
1885 Liberty Nickel: Valued between $570 and $3,650, depending on condition, with PR-63 valued less than XF-40.
1886 Liberty Nickel: Valued between $300 and $2,800, depending on condition, with PR-63 valued less than XF-40.
1912 S Liberty Nickel: Valued between $185 and $2,150, depending on condition.
1913 Liberty Nickel: Valued at $4,345,249 in Proof (PR-63) condition.
Liberty Head V-Nickels are generally inexpensive compared to other early American coinage and are popular among collectors. Values for common dates usually range from $2-$3 in “Good” condition up to $200 or more in uncirculated condition. In some cases, V-Nickels in Extremely Fine (XF) condition can be worth more than the Proof versions from the same year. A professional evaluation to determine a coin’s authenticity by an agency such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Company (NGC) is recommended.
The V-Nickel is an iconic piece of American coinage history. Its distinctive design and historical background make it a valuable addition to any coin collection. At Bullion Hunters, we provide expert advice and a wide selection of collectible coins. Visit our website or contact us today to peruse our inventory and build your collection with fascinating pieces of numismatic history. The V-Nickel’s rich history and enduring appeal ensure it will remain a treasured part of American numismatics for years to come.