V-Nickel (1883-1913)

The V-Nickel, also known as the Liberty Head Nickel, draws its name from the Roman Numeral “V” (meaning “5”) on the reverse of the coin. Designed by Charles Barber, the sixth chief engraver of the United States Mint, this five-cent coin was composed of 75% copper and 25% nickel. Collecting V-Nickels is relatively easy as there were high mintages produced each year of issue. However, it can prove difficult to find a Liberty V Nickel of exceptionally high value, although they do exist.

V-Nickel History

Background:

In 1881, following the lobbying efforts of industrialist Joseph Wharten, Mint Superintendent Archibald Loudon Snowden ordered the US Mint’s Chief Engraver Charles Barber to produce designs for a new cent, three-cent nickel, and five-cent piece. Snowden also instructed Barber that the new designs needed to feature on the classic head of Liberty with the legend "Liberty" and the date on the coin’s obverse. Additionally, Barber had to feature a wreath of wheat, cotton, and corn around a Roman numeral designating the denomination of the coin on the reverse (tails side). After reworking the design in 1882, Barber subsequently added the phrase "E Pluribus Unum" on the reverse.

Initial Production:

Production of the Liberty Head Nickels began January 30, 1883, and was introduced into circulation on February 1. However, Snowden received authorization to continue striking proof Shield nickels for several months concurrently with the new nickels, as he was concerned about reports of speculation.

1883 Revision:

Before 1883, the silver and copper-nickel three-cent pieces had circulated for years with only a Roman numeral to denote the coin’s denomination. No one thought it was necessary to include the word "cents" on the nickel.

Soon after the V-Nickel’s initial release, some inventive tricksters realized the diameter of the new nickels was incredibly similar to that of the five-dollar gold piece. Because of this, if someone gold-plated the nickel, it could easily be passed off as 5 dollars. Due to the fraud that was occurring, the mint stopped production of the Liberty Head Nickel until Barber modified the design to include the word “Cents” at the bottom of the reverse. The updated nickel design was issued on June 26, 1883, the same date the production of the Shield nickel finally stopped.

The V-Nickel was manufactured for 29 years until late 1912 when the Liberty Head design was replaced by sculptor James Fraser’s Buffalo Nickel. 

V-Nickel Design Varieties

The V-Nickel did not undergo many changes during its production. One notable exception is during its first year of issue, the design was modified to include the word “Cents” on the reverse.

Because of this change, the first-ever Liberty Head V-Nickel put into circulation is known as the 1883 “No Cents” Nickel.

1883 Liberty Nickel: No Cents

Image source: https://www.usacoinbook.com

Conversely, the following issue was named the 1883 “With Cents”.

1883 Liberty Nickel: With Cents

Image source: https://www.usacoinbook.com 

V-Nickel Value

Depending on the year of mintage and the coin’s condition, the Liberty Head Nickel can be worth a sizable amount. However, only about 4 varieties of this coin have been valued above $1,000 (in certain conditions). One of those varieties, the 1913 P, only has 5 confirmed coins in existence and is astonishingly rare.

1885 Liberty Nickel

Value: Between $570 and $3,650, depending on condition, with PR-63 valued less than EF-40

Image source: https://www.usacoinbook.com 

1885 Liberty Nickel

Value: Between $300 and $2,800, depending on condition, with PR-63 valued less than EF-40

Image source: https://www.usacoinbook.com 

1912 S Liberty Nickel

Value: Between $185 and $2,150, depending on condition

Image source: https://www.usacoinbook.com 

1913 Liberty Nickel

Value: $4,345,249 in Proof (PR-63) condition

Image source: https://www.usacoinbook.com 

Liberty Head V-Nickels are rather inexpensive in general compared to other early American coinage and are a popular acquisition for many collectors. Values for the common dates usually range from $2-$3 in “Good” condition up to $200 or more in uncirculated condition. In some cases, V-Nickels designated as Extremely Fine can be worth more than the Proof versions from the same year. As always, we advise you to seek out the assistance of a numismatic professional when determining the worth of your coin.