The 1913 Liberty Head Nickel stands as a testament to numismatic rarity and intrigue. With only five known specimens, each has fetched over $1 million at auction, with the highest recorded sale reaching $4.2 million. This article delves into the history, unique characteristics, and auction records of these extraordinary coins.
Contents
A Brief History of the 1913 Liberty Head Nickel
In 1913, the U.S. Mint transitioned from the Liberty Head design to the Buffalo Nickel. However, five Liberty Head Nickels bearing the 1913 date were clandestinely produced, likely without official authorization. Samuel W. Brown, a former Mint employee, is often associated with their creation. These coins surfaced publicly in 1920 when Brown exhibited them at the American Numismatic Association convention.
The Five Known Specimens
Each of the five 1913 Liberty Head Nickels has a unique provenance and has been given a distinctive name:
- Eliasberg Specimen: Graded PR66 by PCGS, this coin is considered the finest of the five. It was part of the renowned Louis E. Eliasberg Collection and sold for $4.56 million in 2018.
- Olsen Specimen: This coin has a storied history, including ownership by King Farouk of Egypt and an appearance on the TV show “Hawaii Five-O.” It sold for $3.7 million in 2010.
- Norweb Specimen: Once part of the Norweb Collection, this coin is now housed in the Smithsonian Institution.
- Walton Specimen: Initially thought lost, it was rediscovered in 2003 and later sold for $3.1 million.
- McDermott Specimen: The only circulated example, it exhibits wear and is part of the American Numismatic Association’s Money Museum.
Auction Records and Values
The 1913 Liberty Head Nickels have consistently set records in the numismatic world. Below is a table summarizing notable auction sales:
| Specimen | Grade | Auction Price (USD) | Auction House | Year |
|---|---|---|---|---|
| Eliasberg | PR66 | $4,560,000 | Stack’s Bowers | 2018 |
| Olsen | PR64 | $3,737,500 | Heritage Auctions | 2010 |
| Walton | PR63 | $3,172,500 | Heritage Auctions | 2013 |
| McDermott | PR55 | $1,350,000 | Heritage Auctions | 2007 |
Note: The Norweb Specimen is not included as it resides in the Smithsonian Institution and is not available for private ownership.
Factors Contributing to Their Value
Several elements contribute to the extraordinary value of these nickels:
- Rarity: With only five known examples, their scarcity is unparalleled.
- Historical Significance: Their mysterious origin and association with Mint personnel add to their allure.
- Provenance: Ownership by notable collectors and appearances in popular culture enhance their desirability.
- Condition: The coins’ preservation states, ranging from circulated to near-perfect proofs, significantly impact their market value.
Conclusion
The 1913 Liberty Head Nickel remains a symbol of numismatic fascination. Its combination of rarity, historical intrigue, and significant auction results continues to captivate collectors and enthusiasts worldwide.
FAQs
Why were the 1913 Liberty Head Nickels produced without authorization?
The exact reason remains unknown, but it’s believed that a Mint employee produced them clandestinely during the transition to the Buffalo Nickel design.
How many 1913 Liberty Head Nickels exist today?
Only five specimens are known to exist.
Which 1913 Liberty Head Nickel sold for the highest price?
The Eliasberg Specimen sold for $4.56 million in 2018.
Can I view any of these nickels in a museum?
Yes, the Norweb Specimen is displayed at the Smithsonian Institution, and the McDermott Specimen is at the American Numismatic Association’s Money Museum.
Are there counterfeit 1913 Liberty Head Nickels?
Due to their value, counterfeits exist. It’s essential to consult reputable numismatic experts when authenticating such coins.
