The 1913 Liberty Head Nickel is one of the most enigmatic and coveted coins in American numismatics. With only five known specimens, its rarity and mysterious origins have propelled it to legendary status among collectors. In 2007, one of these elusive nickels fetched a staggering $5 million in a private sale, underscoring its immense value and allure.
Historical Background
The Liberty Head design, crafted by Chief Engraver Charles E. Barber, adorned U.S. nickels from 1883 until 1912. In 1913, the U.S. Mint transitioned to the Buffalo Nickel design, making 1912 the official final year for Liberty Head nickels.
However, five nickels bearing the 1913 date and Liberty Head design were clandestinely produced, likely without official authorization. Their existence remained unknown until 1920, when Samuel W. Brown, a former Mint employee, unveiled them, sparking intrigue and speculation about their origin.
The Five Known Specimens
The five known 1913 Liberty Head Nickels are distinguished by their unique histories and conditions:
| Specimen Name | Current Location | Notable Details |
|---|---|---|
| Eliasberg Specimen | Private Collection | Graded Proof-66 by PCGS; sold for $5 million in 2007. |
| Olsen Specimen | Private Collection | Featured in a 1973 episode of “Hawaii Five-O”; sold for $3.7 million in 2010. |
| Walton Specimen | Private Collection | Misplaced for decades; rediscovered and authenticated in 2003. |
| Norweb Specimen | Smithsonian Institution | Donated and part of the National Numismatic Collection. |
| McDermott Specimen | American Numismatic Association Museum | Only specimen with circulation wear; donated in 1989. |
Factors Contributing to the $5 Million Valuation
Several elements have contributed to the extraordinary valuation of the 1913 Liberty Head Nickel:
- Extreme Rarity: With only five confirmed examples, the coin’s scarcity significantly elevates its market value.
- Historical Significance: The coin’s mysterious creation and limited production during a transitional period in U.S. coinage add to its allure.
- Provenance: Ownership by prominent collectors, such as Louis E. Eliasberg, who once assembled a complete collection of U.S. coins, enhances the coin’s prestige and desirability.
- Condition: The Eliasberg Specimen’s high grade of Proof-66 indicates exceptional preservation, further increasing its value.
Notable Sales and Ownership
The Eliasberg Specimen has a remarkable sales history:
- 1996: Sold for $1,485,000, becoming the first coin to surpass the $1 million mark.
- 2001: Acquired by collector Ed Lee for an undisclosed amount.
- 2005: Purchased jointly by Legend Numismatics and collector Bruce Morelan for $4.15 million.
- 2007: Sold to an anonymous California collector for $5 million, setting a record for the coin.
The Legacy of the 1913 Liberty Head Nickel
The 1913 Liberty Head Nickel’s allure extends beyond its monetary value. Its mysterious origins, limited mintage, and association with prominent figures in numismatics have cemented its status as a “holy grail” for collectors. The coin’s appearances in popular culture, including a feature in a 1973 episode of “Hawaii Five-O,” have further ingrained it in the public imagination.
FAQs
Why were only five 1913 Liberty Head Nickels produced?
The exact reason remains unclear, but it’s believed they were struck without official authorization, possibly as prototypes or for personal collections.
How can I verify the authenticity of a 1913 Liberty Head Nickel?
Authenticity should be confirmed by reputable grading services like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
What makes the Eliasberg Specimen unique among the five?
It is the finest known example, graded Proof-66 by PCGS, and has a distinguished provenance, including ownership by renowned collector Louis E. Eliasberg.
Have any other 1913 Liberty Head Nickels sold for similar amounts?
Yes, other specimens have fetched multi-million-dollar prices, such as the Olsen Specimen, which sold for $3.7 million in 2010.
Where can I view a 1913 Liberty Head Nickel?
Two specimens are on public display: one at the Smithsonian Institution and another at the American Numismatic Association Museum.
The 1913 Liberty Head Nickel remains a symbol of numismatic rarity and intrigue, captivating collectors and enthusiasts with its storied past and exceptional value.
