1903 5c PR DCAM

Key to Collecting: The 1903 is another common date, obtainable in any grade desired, through gem. Despite this, quality is elusive, and relatively few Mint State coins in the marketplace will appeal to the discriminating buyer. Proofs are scarce, but when seen are usually attractive. A few Proofs have the reverse die misaligned.

Characteristics and Appearance: Most have some areas of light striking, but sharp coins can be found. The luster is usually quite good. Many die pairs were made, creating numerous variables. A total of 116 obverse dies were made.

Characteristics and Appearance: Proofs are usually well struck. Low-contrast portrait and devices, following the revised procedure (starting in 1902) for making Proof dies.

Mintage and Distribution Notes: The portrait of Liberty is lightly polished in the die, as in 1902. The date is very low, with the 1 close to the denticles and distant from the neck. Some small part of this mintage, probably a particular press run, was accom- plished with the obverse and reverse dies aligned in the same direction, rather than 180 degrees apart. I discovered this variety in 1961, if I recall correctly. I do remember the occasion: a trip on a snowy day with Jim Ruddy to visit Ambrose Brown, a numis- matist of Penn Yan, New York, who had o!ered his collection for sale. Included was a set of Liberty nickels with Proof finish, in a small Raymond “National” page. Upon looking at the back of the page I noticed that, as expected, all of the reverses were upside down, except for one that must have been placed in the holder incorrectly. I flipped back and saw that the corresponding obverse was actually right-side up, and that the dies had been misaligned. Ever since then I’ve kept an eye out for these special finds, which seem to be at least five or six times rarer than a regular issue.