Liberty Head Nickels — Key Dates, the Racketeer Nickel & the Legendary 1913
1883–1913 • The Gold-Plating Scam • America's Most Famous Coin
Liberty Head Nickel Value Guide
Key Dates and Typical Values by Grade
| Date / Type | Mintage | Good (G-4) | VF-20 | MS-63+ |
|---|---|---|---|---|
| 1883 No CENTS — Racketeer Nickel | ~5,479,519 | $8 | $20 | $200+ |
| 1883 With CENTS | ~16,032,983 | $10 | $40 | $300+ |
| Common date (1884–1911) | Varies | $3 | $12 | $150+ |
| 1885 | 1,476,490 | $500+ | $2,000+ | $15,000+ |
| 1886 | 3,330,290 | $200+ | $800+ | $8,000+ |
| 1912-S | 238,000 | $400+ | $1,200+ | $10,000+ |
| 1913 — The Legend | 5 (illegal) | $3,000,000 – $5,000,000+ — only 5 known | ||
Origins of the Liberty Head Nickel
The Liberty Head Nickel — universally nicknamed the "V" Nickel for the large Roman numeral V dominating its reverse — replaced the Shield Nickel in 1883, designed by Chief Engraver Charles E. Barber, the same prolific engraver behind the entire Barber coinage series (dime, quarter, and half dollar) that would follow just nine years later. The obverse presents a classical left-facing profile of Liberty wearing a coronet inscribed "LIBERTY," surrounded by thirteen stars, while the reverse's large V is encircled by a wreath of corn, wheat, cotton, and tobacco — an intentional celebration of American agricultural abundance.
The series ran for exactly 30 years, from 1883 through 1913, struck primarily at Philadelphia with limited Denver and San Francisco branch mint production only in the series' final years. It served as America's standard five-cent coin for three decades before being replaced by the Buffalo Nickel in 1913 — the same transitional year that produced the series' single most legendary and valuable coin, discussed below.
The 1883 "Racketeer Nickel" — A Gold-Plating Scam
When the Liberty Head Nickel entered circulation in February 1883, its reverse design carried a critical oversight: the large Roman numeral V indicated the denomination, but the word "CENTS" appeared nowhere on the coin. Because the new nickel was strikingly close in size and color to the contemporary five-dollar Liberty Head gold half eagle, enterprising con artists quickly began gold-plating the nickels and passing them off to unsuspecting merchants and cashiers as genuine five-dollar gold pieces — walking away with change worth nearly a hundred times the coin's actual value.
Reports of the scam spread through newspapers nationwide within weeks. Despite Philadelphia Mint Superintendent A. Loudon Snowden's public defense of the original design, the Mint moved quickly, and by mid-1883 a revised reverse die adding the word "CENTS" beneath the V went into production — creating the two collectible 1883 varieties known today as "No CENTS" (roughly 25% of the year's total mintage) and "With CENTS." A frequently repeated legend attributes much of the scheme to a deaf-mute con artist named Josh Tatum, who allegedly evaded prosecution because he never verbally claimed his gold-plated nickels were worth five dollars. Numismatic historians treat this story as popular folklore rather than documented fact — no contemporary newspaper accounts, court records, or census information have ever been found to confirm Tatum actually existed, and the tale didn't appear in print until decades after 1883. Genuine period "Racketeer Nickels" can typically be identified by hand-applied reeding added to the edge to further mimic a gold coin — a detail absent from the mass-produced gold-plated novelties sold to non-collectors today.
The 1913 Liberty Head — America's Most Famous Coin
By 1913, the Liberty Head design had already been officially discontinued, replaced at the start of the year by the new Buffalo Nickel. Yet five nickels dated 1913 and bearing the old Liberty Head design exist today — struck without any Mint authorization, widely believed to be the work of Philadelphia Mint employee Samuel W. Brown, using genuine dies that should never have produced a 1913-dated coin at all. Brown kept the coins secret for years before revealing them publicly in 1919 and 1920, conveniently just after the statute of limitations for prosecuting a Mint employee had expired.
The five known examples have individually changed hands for anywhere from roughly $3 million to $5 million at auction over the decades, with one — the famous "Walton specimen" — surviving a fatal 1962 car crash, being wrongly declared a counterfeit, and sitting forgotten for over 40 years before authentication confirmed it genuine in 2003. It is, without exaggeration, considered the single most famous coin in American numismatics. See our full Nickels Overview for the complete story of the 1913 rarity.
Key Dates and Notable Issues
1913 — The Legend
1883 No CENTS — Racketeer Nickel
1912-S
1885
1886
1883 With CENTS — First Year Continued
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Frequently Asked Questions
What is the Racketeer Nickel?
When the Liberty Head Nickel was introduced in February 1883, its reverse showed only a large Roman numeral V without the word "CENTS," making it strikingly similar in size and color to the contemporary five-dollar gold half eagle. Con artists gold-plated the nickels and passed them off to merchants as genuine $5 gold pieces, earning nearly a hundred times the coin's real value in change. The Mint corrected the design by mid-1883, adding "CENTS" beneath the V, creating the two collectible 1883 varieties known today.
Was Josh Tatum a real person?
Almost certainly not, according to numismatic historians. The popular legend describes a deaf-mute con artist who evaded prosecution because he never verbally claimed his gold-plated nickels were worth five dollars. However, no contemporary newspaper accounts, court records, or census information have ever been found to confirm Tatum existed, and the story didn't appear in print until decades after 1883. It remains a beloved but unverified piece of numismatic folklore, much like similar legends attached to other famous rare coins.
What is the most valuable Liberty Head Nickel?
The 1913 Liberty Head Nickel is the undisputed and legendary rarity of the series — only five examples exist, struck without Mint authorization after the design had already been officially discontinued in favor of the Buffalo Nickel. Individual examples have sold for $3 million to $5 million at auction, making it one of the most valuable coins in the world, far beyond anything else in the Liberty Head series.
What are the genuine key dates in the Liberty Head Nickel series?
Beyond the legendary 1913, the 1912-S is the lowest-mintage regular issue at just 238,000 struck — the only San Francisco issue in the entire 30-year series. The 1885 (1,476,490 struck) and 1886 (3,330,290 struck) are the two scarcest Philadelphia dates, both commanding strong premiums even in circulated grades.
How can I tell a genuine 1883 Racketeer Nickel from a modern fake?
Genuine period Racketeer Nickels typically show hand-applied reeding added to the edge to further mimic the appearance of a gold coin — a detail absent from the mass-produced gold-plated novelties sold to non-collectors today, which are usually low grade with smooth, unaltered edges. For any significant purchase, PCGS or NGC certification with proper attribution is the safest way to confirm authenticity and period-appropriate plating.
What is a good entry point for collecting Liberty Head Nickels?
Common-date Philadelphia issues from the late 1880s through early 1900s in Good to Fine condition offer the most accessible entry point, typically available for $3–$12. From there, most collectors pursue both 1883 varieties (No CENTS and With CENTS) as a natural pair before working toward the genuine key dates — the 1885, 1886, and 1912-S — treating the unattainable 1913 as a fascinating story rather than a realistic acquisition goal.
A Guide Book of Buffalo and Jefferson Nickels - Features hundreds of full-color photographs, including high-resolution enlargements of key overdates and errors.
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