The 1883 No Cents Liberty Nickel represents a fascinating piece of U.S. numismatic history, notable both for its design and the circumstances of its production. Its inception marked a transition from the Shield Nickel, which had been in production since 1866, to a new series that featured the iconic Liberty on the obverse. The initial release of the 1883 Liberty Nickel lacked the word “CENTS” on the reverse, which led to a significant and well-documented episode in the coin’s history, as some individuals took advantage of the design to pass the nickel off as a more valuable currency.
This coin, designed by Charles E. Barber, was minted with a composition of 75% copper and 25% nickel, following the same alloy of its predecessor, the Shield Nickel. The Liberty Nickel’s weight and diameter were standardized to conform with the previous five-cent pieces, ensuring consistency in circulation. As such, they measured 21.20 millimeters in diameter and weighed 5.00 grams. With over five million pieces struck, the 1883 No Cents nickel was and continues to be an accessible coin for collectors, with its value varying according to condition and other numismatic factors.
Table of Contents
1883 No Cents Liberty Nickel Facts
- The 1883 No Cents Liberty Nickel is a bridge between historical U.S. coinage eras.
- Its unique design and initial omission of the word “CENTS” have earned it a place in numismatic lore.
- The coin’s specifications and subsequent collectibility highlight its significance in U.S. minting history.
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Historical Context
In this section, we’ll explore the birth of the 1883 No Cents Liberty Nickel, its legislative underpinnings, and the significance of its transition, which has contributed to its rarity and value today.
Liberty Head Nickel Inception
The Liberty Head Nickel emerged as a critical change in our nation’s coinage. Unveiled in 1883, it was designed by Chief Engraver Charles E. Barber. Its inception marked the end of the Shield Nickel era, which had been in circulation since 1866. The United States Mint sought a design that would be both aesthetically pleasing and difficult to counterfeit, leading to the selection of the Liberty Head motif.
Legislative Background
Our examination of the coin’s legislative background reveals that Treasury Secretary Charles Folger was influential in the coin’s development. Folger and Mint officials, including Superintendent A. Loudon Snowden, worked together within the framework of U.S. coinage legislation to approve and issue the new five-cent piece. It was in this milieu that the coin was minted without the word “CENTS”, which inadvertently laid the groundwork for what would happen next.
Transition and Rarity
Transition:
The initial mintage of the Liberty Nickel in 1883 did not include the denomination “CENTS” on the reverse. This omission led to deception, with individuals gold-plating these nickels and passing them off as five-dollar gold pieces. Infamously termed “racketeer nickels,” the most notorious case involved a man named Josh Tatum, who exploited this oversight.
- Without Cents: 5,474,300 produced
- With Cents: 16,026,200 produced later in 1883
Rarity:
The 1883 No Cents Nickel’s mintage figures are as follows:
| Variety | Mintage |
|---|---|
| Without CENTS | 5,474,300 |
| With CENTS | 16,026,200 |
The oversight was quickly rectified within the same year by adding “CENTS” to the reverse. Coins minted prior to this correction are significantly rarer, influencing their value among collectors. This rarity is compounded by the fact that only five 1913 Liberty Head Nickels are known to exist, which were illegally minted and not part of the official production.
Design and Minting
We observe that the 1883 No Cents Liberty Nickel is an essential piece of numismatic history, blending a unique design with intriguing minting characteristics. Charles E. Barber, who was the Chief Engraver at the United States Mint, crafted its distinct appearance. Our focus on the obverse design, reverse features, and details about mint marks and production will shed light on the intricacies of this particular coin.
Obverse Design
On the obverse, the Liberty Nickel showcases a classical portrait of Miss Liberty, facing left with Liberty inscribed above her head. Charles E. Barber took great care in designing this side of the coin, which was intended to represent the timeless ideal of liberty. The design also features a coronet and a wreath on Liberty’s head, with the year of minting prominently displayed below her bust.
Reverse Features
The reverse initially harbors a large Roman numeral ‘V’ representing 5, framed by a wreath. Above the ‘V’, we find the motto “E PLURIBUS UNUM”. Notably, the original 1883 design did not include the word “CENTS.” As a result, it is often referred to as the ‘No Cents’ nickel. This lack of the word “CENTS” was later corrected to prevent fraud, prompting a modification to include it later in the year.
Mint Marks and Production
The Philadelphia Mint, where our “No Cents” Liberty Nickel was produced, did not include a mint mark on coins minted there. Production numbers for the Liberty Head Nickel were substantial:
| Year | Mintage |
|---|---|
| 1883 | 5,474,300 |
| Other Years | Varied |
This number solely accounts for the “No Cents” version. As with the Shield Nickel before it, the Liberty Nickel was produced predominantly from a mixture of 75% copper and 25% nickel. Following the initial “No Cents” release, the phrase “FIVE CENTS” was added beneath the ‘V’ on the reverse, distinguishing subsequent mintages from the original issue.
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Coin Specifications
In this section, we discuss the detailed specifications that make the 1883 No Cents Liberty Nickel a distinct coin in United States numismatics. We’ll consider its physical attributes and the numismatic details, including its unique marking and historical context.
Physical Attributes
The 1883 No Cents Liberty Nickel has several key attributes:
- Diameter: The coin has a diameter of 21.20 millimeters, which is standard for nickels of that era.
- Weight: It weighs 5.00 grams.
- Composition: The coin is made of a metal alloy consisting of 75% copper and 25% nickel.
- Edge: The edge of the coin is plain, without reeding or inscriptions.
Numismatic Details
Regarding numismatic aspects, the Liberty Head Nickel series stands out for several reasons:
- Designation: This particular nickel is famously known as “No Cents” because it lacks the word “CENTS” on the reverse.
- Introduction: It was released to replace the Shield Nickel and to circulate alongside silver five-cent pieces.
- Roman Numerals: Instead of the word “CENTS”, on the reverse, there is a large Roman numeral “V”, representing the value of five cents.
- Liberty Head Nickels: The 1883 No Cents coin is part of the Liberty Head series, which gets its name from the depiction of Lady Liberty on the obverse (front) side of the coin.
Collectibility and Value
In our examination of the 1883 No Cents Liberty Nickel, we recognize that its collectibility and ultimate value are primarily influenced by its condition, specific varieties, and market dynamics.
Grading and Condition
- Good (G): Heavy wear with design visible but faint in areas.
- Fine (F): Moderate to heavy wear with full rims and more definition.
- Very Fine (VF): Light to moderate wear with strong major details.
- Extremely Fine (EF/XF): Very light wear on high points only.
- Mint State (MS): No wear with different levels of luster and appeal.
Key Dates and Varieties
There are two significant varieties of the 1883 Liberty Nickel:
- With Cents: Added later in the year to clarify the denomination.
- Without Cents: Original issue that potentially could be gilded and passed off as a $5 piece, which led to the change.
Market Considerations
- NGC/PCGS Grading: Coins graded by these organizations often command higher prices.
- Melt Value: Composed of 75% copper and 25% nickel, but collectible value far exceeds melt value.
- Seller: Prices can vary based on the reputation and location of the seller.
Coins in mint state, particularly MS-63 and higher, are highly sought after and attain significant premiums. The valuation might also be influenced by the certifications from PCGS or NGC and provenance. As members of the American Numismatic Association, we observe established guidelines to evaluate coin values, which ensure that our assessments are both reliable and consistent.
Cultural Impact
We recognize the 1883 No Cents Liberty Nickel not only for its monetary value but also for its significant cultural impact on the United States coin collecting community. The nickel’s inception and the resulting controversies surrounding it have entrenched it firmly in American numismatic history.
Popular Misconceptions
Misconception: The coin contains precious metals. Unlike coins made from silver or gold, the 1883 No Cents Liberty Nickel is primarily composed of a copper-nickel alloy, containing 75% copper and 25% nickel, which has no significant intrinsic precious metal value.
Misconception: The coin’s design change was arbitrary. The transition from the Shield nickel to the Liberty Head design was a deliberate effort to refresh the United States five-cent coinage. Our understanding of these changes clarifies that they were part of the United States Mint’s ongoing efforts to improve its coinage.
Numismatic Legacy
- Introduction of the Liberty Head motif: Our Liberty Head nickels, featuring the iconic Liberty Head design, hold a special place in the pantheon of United States coins. They marked a new era for the five-cent denomination, paving the way for future designs like the Jefferson nickels.
- Racketeer Nickels: The lack of the word “CENTS” on the reverse gave rise to the so-called “racketeer nickels.” Unscrupulous individuals plated these coins with a thin layer of gold, passing them off as five-dollar pieces. This deceit ultimately led to the addition of “CENTS” to the reverse design within the same year.
- Josh Tatum myth: There’s a widely told story of a man named Josh Tatum, who purportedly utilized these gold-plated nickels to purchase items of negligible value and receiving change for five dollars. Although the veracity of this tale is debated, it plays a monumental role in the folklore surrounding these coins.
We regard the “No CENTS” variety of the Liberty Head nickel as a rich chapter in our numismatic heritage. They are tangible reminders of our past, embodying stories and lessons from an earlier monetary era in the United States of America.
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