Liberty (V) Nickel 5c No Cents, 1883 PR DCAM [Type]

Designer: Charles E. Barber. Weight: 5 grams. Composition: .750 copper, .250 nickel. Diameter: 21.2 mm. Edge: Plain. Mints: Philadelphia, Denver, San Francisco.

Key to Collecting: In 1883 a new design was made for the nickel five-cent piece. The obverse featured an attractive head of Liberty, possibly intended to represent the goddess Diana. The reverse depicted a wreath and inscriptions, including a V as the only mark of value—logical enough, as Roman numerals had served to identify the denominations for nickel three-cent pieces (introduced in 1865) and silver three-cent pieces (1851 onward). However, the diameter of the five-cent piece was about the same as a 5-dollar gold coin, and it became an infamous deception to gold-plate the new nickels and pass them offas five-dollar coins, sometimes adding reeding to aid in the caper. Word spread that the Treasury Department had made a grave error in the design and that all these coins would be recalled from circulation. A great excitement arose as speculators rushed to acquire as many as possible, aided by many advertisements from dealers offering them for sale. The result was that millions were hoarded.

Plentiful in all circulated grades. Mint State 1883 Liberty Head nickels without CENTS are the most plentiful of all Uncirculated 19th-century United States coins, except for certain Morgan silver dollars.

Aspects of Striking and Appearance: Many have areas of light striking. Points to check include the central star details on the obverse and the wreath details on the reverse. Die cracks are common and can lend interest.

Proof Coins: The “error” in the design created a lot of attention, resulting in record quantities of minor Proof sets (bronze cent, nickel three-cent and five-cent coins) being ordered from the Mint. Today, such pieces are plentiful, but the demand is great.