The world of numismatics is full of surprises, especially when it comes to rare coins. Among the most fascinating are certain nickels that have fetched astronomical prices at auctions and private sales. This article explores the top five nickels that are worth a staggering $280 million collectively, detailing their history, rarity, and what makes them so valuable.
1. Liberty Head V Nickel (1913)
Overview
The Liberty Head V Nickel, minted in 1913, is one of the rarest and most valuable coins in American numismatic history. Only five specimens are known to exist, making it the holy grail for coin collectors. The coin features the Liberty Head design, which was replaced by the Buffalo Nickel in the same year, making these five coins the only ones of their kind.
Why It’s Valuable
The Liberty Head V Nickel’s value comes from its extreme rarity, historical significance, and the mystery surrounding its creation. One of these nickels sold for over $4.5 million in 2018, and the combined value of all five is estimated to be in the tens of millions of dollars. The coin’s design and the circumstances of its production—unauthorized and only a handful made—add to its allure.
Key Facts
-
Year: 1913
-
Mint: Unknown (not officially authorized)
-
Known Specimens: 5
-
Highest Sale Price: $4,560,000 (2018)
-
Estimated Total Value (All Five): Over $20 million
2. 1918/7-D Buffalo Nickel
Overview
The 1918/7-D Buffalo Nickel is another legendary coin among collectors. It is famous for its overdate error, where the “8” in the date was struck over a “7,” creating a visible double image. This error was not discovered until the 1930s, adding to the coin’s mystique.
Why It’s Valuable
The rarity of the 1918/7-D Buffalo Nickel is due to the overdate error and the limited number of coins that survived in high grades. A specimen sold for $350,750 in 2006, and pristine examples can fetch even higher prices today. The coin’s unique error and historical context make it a must-have for serious collectors2.
Key Facts
-
Year: 1918 (overdate 1918/7)
-
Mint: Denver (D)
-
Error: Overdate (8 over 7)
-
Highest Sale Price: $350,750 (2006)
-
Estimated Value (Top Grades): Up to $500,000
3. 1926-S Buffalo Nickel
Overview
The 1926-S Buffalo Nickel is prized for its low mintage and rarity in high grades. Only 970,000 were minted at the San Francisco facility, a fraction of the numbers produced at other mints in different years.
Why It’s Valuable
The scarcity of the 1926-S Buffalo Nickel, especially in uncirculated condition, drives its value. A single coin sold for $322,000 in 2008, and top-quality specimens remain highly sought after. The coin’s design, featuring a Native American on the obverse and a buffalo on the reverse, is iconic and adds to its appeal.
Key Facts
-
Year: 1926
-
Mint: San Francisco (S)
-
Mintage: 970,000
-
Highest Sale Price: $322,000 (2008)
-
Estimated Value (Top Grades): Up to $400,000
4. 1916 Double Die Buffalo Nickel
Overview
The 1916 Double Die Buffalo Nickel is renowned for its striking error, where the obverse design was struck twice, resulting in a doubled image. This error is most visible on the date and the chin of the Native American.
Why It’s Valuable
Only about 200 examples of the 1916 Double Die Buffalo Nickel are known to exist, making it extremely rare. A specimen sold for $281,750 in 2004, and the coin’s unique error and limited survival rate make it a prized possession for collectors.
Key Facts
-
Year: 1916
-
Mint: Philadelphia
-
Error: Double Die Obverse
-
Known Specimens: ~200
-
Highest Sale Price: $281,750 (2004)
-
Estimated Value (Top Grades): Up to $300,000
5. 1938-D Jefferson Nickel Full Step Regular Strike
Overview
While not as rare as the previous coins, the 1938-D Jefferson Nickel in full step condition is highly sought after by collectors. The “full step” designation refers to the coin’s sharp strike, with all steps on Monticello clearly visible.
Why It’s Valuable
The 1938-D Jefferson Nickel is valuable due to its condition and the difficulty of finding coins with full steps. A specimen graded MS 68+ FS sold for $33,600 in 2022, and while this is less than the previous coins, it remains a key date for Jefferson Nickel collectors.
Key Facts
-
Year: 1938
-
Mint: Denver (D)
-
Grade: MS 68+ FS
-
Highest Sale Price: $33,600 (2022)
-
Estimated Value (Top Grades): Up to $50,000
Why Are These Nickels So Valuable?
Several factors contribute to the extraordinary value of these nickels:
-
Rarity: Low mintage numbers, errors, and limited survival rates make these coins extremely rare.
-
Historical Significance: Many of these coins are tied to key moments in American numismatic history.
-
Condition: Coins in pristine, uncirculated, or error-free condition command the highest prices.
-
Collector Demand: The passion and competition among collectors drive prices to new heights.
Collecting Rare Nickels: Tips and Insights
For those interested in starting or expanding a collection of rare nickels, here are some tips:
-
Research: Learn about key dates, mint marks, and errors.
-
Authentication: Always verify the authenticity of rare coins through reputable dealers or grading services.
-
Storage: Store coins in protective holders to preserve their condition.
-
Patience: Building a valuable collection takes time and dedication.
FAQ
Q: What is the most valuable nickel ever sold?
A: The 1913 Liberty Head V Nickel is the most valuable, with one selling for over $4.5 million.
Q: How can I tell if my nickel is rare?
A: Look for unique mint marks, errors, and check the coin’s condition and year. Consulting a coin expert is recommended.
Q: Where can I sell rare nickels?
A: Rare coins can be sold through auctions, coin dealers, or online marketplaces specializing in numismatics.