Liberty Head V Nickel Values: The 1883-1913 Series Explained
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Short on time? The essentials
- The Liberty Head nickel, also called the V nickel for the Roman numeral V on the reverse, was struck at the United States Mint from 1883 through 1912, with five unauthorized 1913 pieces added to the historical record.
- Mint Chief Engraver Charles Barber designed the coin. It replaced the Shield nickel and was itself replaced by the Buffalo nickel in February 1913.
- Every genuine Liberty Head nickel weighs 5.000 grams, measures 21.21 mm across, has a plain edge, and uses a 75 percent copper and 25 percent nickel alloy.
- The 1883 series has two subtypes: the No Cents variety struck early in the year and the With Cents variety issued on June 26, 1883, after the "racketeer nickel" fraud made the word CENTS necessary.
- The three verified business-strike key dates are the 1885 at 1,476,490 pieces, the 1886 at 3,330,290, and the 1912-S at only 238,000 pieces struck in the final four business days of the series.
- Mint marks (D for Denver and S for San Francisco) appear only in 1912, on the reverse to the left of the word CENTS. All other dates in the series were struck at Philadelphia and carry no mint mark.
- Five 1913 Liberty Head nickels are known to exist. The Mint's records show no authorized production of the date. Public sales have crossed the multi-million-dollar line, with one specimen reaching a reported $5,000,000 in a 2007 private sale.
- The word LIBERTY on the coronet is the standard wear indicator. A coin where all seven letters read clearly grades higher and sells for a real premium over a worn example with partial or missing letters.
On this page
- The Liberty Head V nickel at a glance
- Design story: Charles Barber and the wreath reverse
- Verified physical specifications
- The 1883 No Cents versus With Cents story
- Mint marks and the 1912 branch-mint change
- Verified key dates of the series
- The 1913 Liberty Head nickel: five known coins
- The LIBERTY headband and how it drives grade
- How to identify what your Liberty Head nickel is
- Metal-floor math on a Liberty Head nickel
- Counterfeit warnings on the 1885 and 1912-S
- When professional grading is worth the fee
- What your Liberty Head nickel is probably not
- Liberty Head nickel FAQ
The Liberty Head V nickel at a glance
The Liberty Head nickel was the United States five-cent coin from 1883 through 1912. Regular production ran across those 30 years at the Philadelphia Mint. Two branch mints joined for a single year in 1912.
The obverse features a left-facing bust of Liberty wearing a coronet and a wreath. Around the portrait, thirteen stars represent the original states. The date sits at the bottom.
The reverse shows a large Roman numeral V inside a wreath of wheat, cotton, and corn. The word UNITED STATES OF AMERICA arcs above the wreath. The word CENTS appears below. This reverse is the source of the coin's nickname, the V nickel.
The series ended when production shifted to James Earle Fraser's Buffalo nickel design in February 1913. Five pieces dated 1913 were struck without authorization at the Philadelphia Mint. Those five coins now count among the most recognized rarities in American numismatics.
Design story: Charles Barber and the wreath reverse
Charles Barber served as Chief Engraver of the United States Mint when the Shield nickel needed replacement. He prepared new designs for a five-cent piece in 1882 and 1883. The result went into production on January 30, 1883, and the first coins entered circulation on February 1.
The chosen obverse used the classic head of Liberty in a coronet. The word LIBERTY appears on the headband above her brow. This treatment matched the visual family Barber would later use on his 1892 Barber dime, quarter, and half dollar.
The reverse was the visual identifier for the series. A large Roman numeral V, set inside a wreath of wheat, corn, and cotton, marked the five-cent denomination. No English word for the value appeared on the earliest 1883 strikes, and that omission triggered the fraud story detailed below.
After the CENTS revision, the design remained essentially unchanged through 1912. In 1912, branch-mint production began at Denver and San Francisco, and mint marks appeared on the reverse for the first time in the series.
Verified physical specifications
Every genuine Liberty Head V nickel matches the same measurable specifications. The table below is the baseline identification. Any coin sold as a Liberty Head nickel that misses these numbers deserves a closer look before you accept it as authentic.
| Attribute | Value |
|---|---|
| Face value | Five United States cents |
| Composition | 75 percent copper and 25 percent nickel |
| Weight | 5.000 grams (0.1615 troy ounce) |
| Diameter | 21.21 mm (0.8350 inch) |
| Edge | Plain (no reeding on genuine issues) |
| Years of issue | 1883 through 1912 for circulation, plus five unauthorized 1913 pieces |
| Mints | Philadelphia (no mint mark, all years), Denver (D, 1912 only), San Francisco (S, 1912 only) |
| Mint mark location | Reverse, to the left of the word CENTS, next to the small dot separating CENTS from UNITED |
| Obverse designer | Charles Barber, Mint Chief Engraver |
| Reverse designer | Charles Barber |
| Preceded by | Shield nickel (1866 through 1883) |
| Followed by | Indian Head or Buffalo nickel (1913 through 1938) |
Sources: Wikipedia entries on the Liberty Head nickel and the Nickel (United States coin), both citing the U.S. Mint composition record. Checked August 2026.
The 1883 No Cents versus With Cents story
The very first Liberty Head nickels of 1883 did not carry the word CENTS anywhere on the coin. Only the Roman numeral V on the reverse indicated the five-cent value. Earlier three-cent pieces had used the same Roman-numeral-only convention without trouble.
The new nickel had a diameter close to the five-dollar gold half eagle. Fraudsters gold-plated the coins and passed them for five-dollar gold pieces at cash counters. Some pieces even received a filed reeded edge to add to the gold-coin illusion.
A widely repeated version of the story names a deaf-mute traveler called Josh Tatum. In the telling, he selected small items priced at five cents or less, offered a gold-plated V nickel, and accepted the change without misrepresenting the coin's true value. The story is folklore in parts, though the underlying fraud pattern is documented.
Congress and the Mint responded quickly. A revised reverse with the word CENTS at the bottom of the wreath went into production on June 26, 1883. That same day, production of the older Shield nickel ended.
The two subtypes have different mintages. Philadelphia struck 5,479,519 pieces of the No Cents variety in early 1883. It then struck 16,032,983 pieces of the With Cents variety across the rest of the year. Both subtypes are legal tender and both are common in circulated grades.
The public briefly hoarded the No Cents coins on rumors the Treasury would recall them. That never happened. Today the No Cents variety trades for a modest premium over face value in circulated grades, and both subtypes are within reach of any hobbyist.
Mint marks and the 1912 branch-mint change
For most of the series, every Liberty Head nickel was struck at Philadelphia. Philadelphia strikes never carried a mint mark on this coin. If you find a Liberty Head nickel with no mint mark, it is a Philadelphia coin regardless of year.
Congress removed a prior restriction on branch-mint striking of one-cent and five-cent coins on April 24, 1906. In 1912, the Denver and San Francisco Mints struck the Liberty Head nickel for the first and only time.
The mint mark on 1912 branch-mint coins sits on the reverse, to the left of the word CENTS, next to the small dot separating CENTS from the letters of UNITED. The mark is a small D for Denver or a small S for San Francisco.
The 1912-D mintage of 8,474,000 pieces made the Denver coin a real but not scarce issue. The 1912-S was struck only during the last four business days of the year, starting on Christmas Eve, for a total mintage of 238,000 pieces. That makes the 1912-S the rarest business strike of the series by a wide margin.
Verified key dates of the series
Three business-strike issues carry structural scarcity from low mintages. A serious buyer or a curious inheritor should check every Liberty Head V nickel for these dates before treating the coin as common. Grade and originality drive the premium above the raw mintage figure.
| Issue | Verified fact |
|---|---|
| 1885 (Philadelphia) | Business-strike mintage of 1,476,490 coins. Widely recognized as the classic key date of the series. Commands a strong premium at every grade level, especially in mint state. |
| 1886 (Philadelphia) | Business-strike mintage of 3,330,290 coins. The second-lowest business-strike mintage of the Philadelphia issues in the series. Sits in the semi-key tier and moves up in value at high grade. |
| 1912-S (San Francisco) | Business-strike mintage of 238,000 coins. The rarest single business strike of the series. Struck only during the final four business days of December 1912. |
| 1912-D (Denver) | Business-strike mintage of 8,474,000 coins. The only Denver-mint issue of the series. Common in circulated grades and premium in Mint State. |
| 1883 No Cents (Philadelphia) | Business-strike mintage of 5,479,519 coins. Common in circulated grades. A first-year subtype with historical interest driven by the racketeer nickel story. |
| 1913 Liberty Head | Five known specimens. The Mint's records show no authorized production of the date. Every appearance at auction crosses seven or eight figures. |
Sources: Wikipedia United States nickel mintage quantities entry and Wikipedia Liberty Head nickel entry, both citing standard mintage references. Checked August 2026.
Dollar values on any of these coins move with grade and with the auction market. Use current listings from an established auction house or a certified grading service population report to price a specific coin. Do not accept a verbal offer for a key date without a certified holder first.
The 1913 Liberty Head nickel: five known coins
Only five 1913 Liberty Head nickels are known to exist. The Mint's records show no authorized production of the date. Regular five-cent production for 1913 was the new Buffalo design by James Earle Fraser, which began at Philadelphia in February.
The five known 1913 Liberty Head nickels are cataloged by their pedigreed owners. They are the Eliasberg, the Olsen, the Norweb, the McDermott, and the Walton specimens. Three sit in public museums (the Smithsonian and the American Numismatic Association Money Museum). Two are in private hands.
A coin dealer named Samuel W. Brown placed advertisements in numismatic publications in December 1919, offering to pay 500 dollars for any 1913 Liberty Head nickel. He then displayed one at the 1920 American Numismatic Association convention. Brown was later identified as a former Philadelphia Mint employee, a fact that is now central to how numismatists explain the coins' existence.
Brown sold all five coins in January 1924. Since then, each specimen has traded through dealer and auction channels with detailed public documentation. Modern grading services (PCGS and NGC) have authenticated the coins and assigned formal grades.
Reported public prices have grown over the decades. The Eliasberg specimen sold in a 2007 private transaction for a reported $5,000,000. The Olsen specimen sold at Heritage Auctions in January 2010 for $3,737,500. The Walton specimen sold at Heritage in April 2013 for $3,172,500 and was later sold to GreatCollections in October 2022 for $4,200,000.
The takeaway for a household inheritor is simple. A 1913 Liberty Head nickel found in an old collection is almost certainly not one of the five known pieces. Every one of the five is fully documented, publicly tracked, and independently certified. A 1913-dated Liberty Head nickel of unknown pedigree needs authentication before any value claim.
The LIBERTY headband and how it drives grade
The word LIBERTY sits on the coronet above Liberty's brow on the obverse. It is the single most useful wear indicator on the series. On a well-struck coin in Good grade, only about half of the letters read clearly. On a coin in Fine grade, all seven letters should be at least partially visible.
Grading services expect a fully readable LIBERTY on the coronet for a coin to reach Very Fine and above. The letters wear off in a predictable order because they sit on a high point of the die. A coin advertised as Extremely Fine with a partial LIBERTY is either misdescribed or has been improperly graded.
Mint State examples with a bold, deeply struck LIBERTY often command a premium over ordinary Mint State examples of the same date. On the scarcer dates, the difference between a soft strike and a sharp strike can be meaningful in dollar terms.
A verbal claim of "Full LIBERTY" from a seller without third-party certification carries no market weight. Buyers routinely check the letters under magnification before agreeing on a price. Certification from an established grading service resolves the question in a way a photo opinion cannot.
How to identify what your Liberty Head nickel is
The steps below are the sequence a serious hobbyist runs on any Liberty Head V nickel found in a jar, a drawer, or an inherited collection. Follow them in order before treating the coin as anything more than a common date.
- Confirm the coin is a Liberty Head V nickel. The obverse shows a left-facing Liberty in a coronet with LIBERTY on the headband and thirteen stars around her portrait. The reverse shows a large Roman numeral V inside a wreath of wheat, cotton, and corn. If either side shows a different design, the coin belongs to a different series.
- Weigh the coin on a jewelry scale. A genuine Liberty Head V nickel weighs 5.000 grams. A digital scale that reads to two decimal places is enough. A weight far outside 4.9 to 5.1 grams points to a fake, a heavily worn coin, or a damaged planchet.
- Check the date on the obverse. The date sits at the bottom of the obverse under the bust. It should read between 1883 and 1912 for a normal circulation coin. A 1913 date requires expert authentication before any further step.
- For 1883, check whether the reverse shows CENTS. Look at the base of the wreath on the reverse. A wreath with no word below it is the No Cents subtype. A wreath with the word CENTS at the bottom is the With Cents subtype. The two are separate collectible varieties.
- Read the mint mark and its location on the reverse. A small D or S sits to the left of the word CENTS, next to the small dot separating CENTS from UNITED. Any Liberty Head V nickel with no mint mark is a Philadelphia strike, which is normal for the series.
- Look for the key-date candidates. Check any 1885, 1886, and 1912-S coin closely. These three business strikes carry the structural scarcity of the series. A candidate deserves closer inspection and possibly certification.
- Inspect the LIBERTY word under magnification. Count how many of the seven letters read clearly. A coin with a fully readable LIBERTY is a grading candidate. A coin with a partial LIBERTY may still be worth checking for scarcer dates but will grade lower.
- Do not clean the coin. Any polishing, dipping, or scrubbing lowers the grade an independent grader will assign. Cleaning a coin can drop its market value by half or more. Preserve the coin exactly as found.
- Submit high-value candidates to an independent grading service. Only certified authentication from an established grader carries weight in the marketplace on a key date, a scarce mint state coin, or a suspected variety. Verbal appraisals and photo opinions do not.
Metal-floor math on a Liberty Head nickel
Counterfeit warnings on the 1885 and 1912-S
Key dates in any classic U.S. coin series attract altered-coin activity. In the Liberty Head V series, the 1885 and the 1912-S are the two dates a buyer should treat with the most caution.
The 1885 is the classic key of the series. Because the design ran continuously for 30 years, common-date coins from adjacent years are readily available. An altered date on a common Philadelphia coin can turn a $2 piece into an apparent scarce date. A skilled fake will pass a casual glance and only fail under magnification and against a genuine reference image.
The 1912-S is the lowest-mintage business strike of the series. Because Philadelphia 1912 coins carry no mint mark, and Denver 1912 coins carry a small D, an added S mint mark on the reverse is a common form of alteration. Tooling marks around the mint mark position often reveal the addition under a loupe.
The 1913 Liberty Head nickel is a special case. Because all five known specimens are documented and photographed, any newly discovered 1913 requires forensic authentication before it can be treated as genuine. A 1913-dated Liberty nickel that turns up in an old family collection is more likely a fantasy piece or a modified date than a sixth known genuine specimen.
Independent certification from an established grading service is the working defense against these fakes. Do not pay a key-date price for a Liberty Head V nickel that is not in a certified holder from a service with a published grading standard.
When professional grading is worth the fee
Grading has a per-coin fee that varies by service and turnaround tier. Submitting a common circulated Liberty Head nickel worth less than the fee is losing math. Grading is worth the cost only when the potential upside on the certified grade beats the submission fee.
Grading pays off in a small number of situations. A candidate key date like 1885, 1886, or 1912-S deserves certification if the coin is Very Fine or better. A Mint State example of any Philadelphia date deserves grading if the surfaces are original and the LIBERTY word is sharp.
A 1912-D or 1912-S in high grade often justifies the submission because the certified grade sets the market. A raw coin sold at a show or online without a certified grade will trade at a meaningful discount to the certified equivalent.
For most household finds, the honest answer is that a grading submission will cost more than the certified coin is worth. Sell circulated common dates in bulk to a local coin dealer or at a coin club show. Save grading dollars for coins with documented upside.
What your Liberty Head nickel is probably not
Most Liberty Head V nickels that reach a shop counter or a resale listing are not what the owner is hoping for. It is more useful to know the honest patterns than to sell yourself on a possibility. The list below covers what a typical Liberty Head V nickel most often turns out to be.
A common circulated Philadelphia date worth a few dollars. This is by far the most common outcome for any date between 1883 and 1912 outside the three key dates. The design ran continuously for three decades in the millions per year. Value is a small premium over metal.
A well-worn coin with a partial LIBERTY. The word LIBERTY on the coronet wore off in a predictable order because it sat on a high point. A coin with only partial letters is a lower grade regardless of date and trades at the ordinary circulated price for that year.
A cleaned or polished coin. Someone applied a chemical dip or a soft cloth to brighten the surface. Certified graders will assign a details grade instead of a numeric grade, which typically reduces value by half or more against an original piece.
A gold-plated 1883 No Cents nickel. These are the same racketeer-nickel pieces produced by fraudsters in 1883 or as souvenirs later. The gold coating adds no value. Genuine No Cents coins in original copper-nickel condition are the collectible form.
A common 1912 Denver coin dressed up as a 1912-S. Added or tooled mint marks are the primary alteration on this issue. Only certified authentication from an established grading service protects a buyer at the price the genuine 1912-S commands.
An altered date presented as an 1885 or 1886. A common Philadelphia coin from a nearby year with a modified last digit under magnification. A loupe and a genuine reference image reveal most attempts.
A 1913 Liberty Head nickel of unknown pedigree. Every one of the five known specimens is fully documented and independently certified. A 1913 date on a family-collection coin is almost never a sixth genuine coin. Full authentication is required before any value claim.
A real key date, undiscovered. This outcome is possible and is the reason to run the identification steps on every Liberty Head V nickel worth checking. It is also rare enough that it should not shape a financial decision before an independent grader confirms the coin.
Liberty Head nickel FAQ
What is a Liberty Head V nickel worth today?
A common circulated Liberty Head V nickel from 1883 through 1912 outside the three key dates is worth roughly one to a few dollars in a coin shop. The 1885, 1886, and 1912-S command real premiums that grow with grade. A certified Mint State example of a common date sells for a modest premium. The 1913 Liberty Head sits in the multi-million-dollar range for the five known specimens.
Why is the 1913 Liberty Head nickel so valuable?
Only five specimens are known to exist and the U.S. Mint's records show no authorized production of the date. Regular 1913 five-cent production was the new Buffalo nickel by James Earle Fraser. The five 1913 Liberty Head coins first surfaced through former Philadelphia Mint employee Samuel W. Brown starting in December 1919. Public sales have crossed the multi-million-dollar line.
What is the difference between the 1883 No Cents and With Cents nickel?
The 1883 No Cents nickel does not carry the word CENTS on the reverse. Only the Roman numeral V indicates the denomination. Fraudsters gold-plated the coins and passed them for five-dollar gold pieces at cash counters. The Mint added the word CENTS to the reverse on June 26, 1883, creating the With Cents subtype for the rest of the year and the remainder of the series.
How do I tell if my 1912 Liberty nickel is a 1912-S?
Look at the reverse for a small mint mark to the left of the word CENTS, next to the dot separating CENTS from UNITED. A small S identifies the San Francisco strike. A small D identifies the Denver strike. No mint mark at all identifies the Philadelphia 1912. Only the 1912-S is a true key date at 238,000 pieces struck in the final four business days of the year.
Is the Liberty Head V nickel made of silver?
No. Every Liberty Head V nickel from 1883 through 1913 is a copper-nickel alloy of 75 percent copper and 25 percent nickel. Each coin weighs 5.000 grams. The alloy contains no silver and no gold. The base-metal value at typical spot prices sits close to the coin's face value, and the collectible value comes from date, grade, and originality rather than from metal content.
What does Full LIBERTY mean on a V nickel?
Full LIBERTY refers to a coin where all seven letters of the word LIBERTY on the coronet strike clearly and remain fully readable. The word sits on a high point of the die and wears off in a predictable order. Grading services expect a fully readable LIBERTY for a coin to reach Very Fine and above. A verbal claim of Full LIBERTY without third-party certification carries no market weight.
Is it legal to melt Liberty Head V nickels for the metal?
No. Title 18 of the United States Code section 331 and Treasury regulation 31 CFR part 82 prohibit the melting, exportation, or treatment of United States one-cent and five-cent coins for their metal content. The rule applies to any five-cent coin including the Liberty Head V nickel. Sell the coins intact to a dealer, not through personal melting.
Should I get my Liberty Head V nickel professionally graded?
Grading has a fee, so it is not worth submitting a common circulated coin worth less than the grading cost. Grading pays off on a candidate 1885, 1886, or 1912-S in Very Fine or better, on any Mint State Philadelphia date with original surfaces and a sharp LIBERTY, or on any 1912-D or 1912-S in high grade. A certified grade sets the coin's market value in a way a verbal appraisal cannot.
Sources
- Wikipedia, Liberty Head nickel. Series 1883 through 1912 with five surreptitious 1913 pieces, designer Charles Barber as Mint Chief Engraver, striking began January 30, 1883 and first coins circulated on February 1, With Cents reverse issued on June 26, 1883, wreath of wheat, cotton, and corn, the racketeer nickel gold-plating fraud with the Josh Tatum folklore, 1912 branch-mint production at Denver and San Francisco with mint mark to the left of CENTS on the reverse, 1912-S mintage of 238,000 struck starting on Christmas Eve for four business days, and the 1885 flagged as a key date. en.wikipedia.org/wiki/Liberty_Head_nickel. Checked August 2026.
- Wikipedia, United States nickel mintage quantities. Verified business-strike mintages for the Liberty Head V nickel series: 1883 No Cents 5,479,519, 1883 With Cents 16,032,983, 1884 11,273,942, 1885 1,476,490 (key date), 1886 3,330,290 (key date), 1911 39,559,372 (highest of series), 1912 26,236,714, 1912-D 8,474,000 (only Denver year), 1912-S 238,000 (only San Francisco year, key date), and 1913 with five known pieces incredibly rare. en.wikipedia.org/wiki/United_States_nickel_mintage_quantities. Checked August 2026.
- Wikipedia, 1913 Liberty Head nickel. Five known specimens documented as Eliasberg, Olsen, Norweb, McDermott, and Walton, three on public display at the Smithsonian and the American Numismatic Association Money Museum and two in private hands, unauthorized production with the Mint's records showing no 1913 Liberty Head nickels produced, Samuel W. Brown identified as a former Philadelphia Mint employee who placed a December 1919 advertisement offering $500 per coin and sold all five in January 1924, PCGS and NGC authentication of every specimen, Eliasberg specimen sold in 2007 for a reported $5,000,000, Olsen specimen sold at Heritage Auctions in January 2010 for $3,737,500, Walton specimen sold at Heritage in April 2013 for $3,172,500 and again to GreatCollections in October 2022 for $4,200,000. en.wikipedia.org/wiki/1913_Liberty_Head_nickel. Checked August 2026.
- Wikipedia, Nickel (United States coin). Reference for the 5.000 gram mass, 21.21 mm diameter, plain edge, and 75 percent copper with 25 percent nickel composition across the Shield, Liberty Head, Buffalo, and Jefferson designs. en.wikipedia.org/wiki/Nickel_(United_States_coin). Checked August 2026.
- United States Mint, Coin Specifications and Historical Composition. Reference for the standard 5.000 gram weight, 21.21 mm diameter, and 75 percent copper and 25 percent nickel composition on regular five-cent United States coins. usmint.gov/learn/history-and-artistry. Checked August 2026.
- Legal Information Institute, Cornell Law School. 18 U.S. Code section 331: Mutilation, diminution, and falsification of coins. Federal statute cited by the U.S. Mint for the enforcement framework on defacing or fraudulently altering U.S. coins. law.cornell.edu/uscode/text/18/331. Checked August 2026.
- Electronic Code of Federal Regulations. 31 CFR Part 82: Prohibition on the Exportation, Melting, or Treatment of 5-Cent and One-Cent Coins. Treasury regulation prohibiting the melting of United States nickels and cents for their metal content. ecfr.gov/current/title-31/subtitle-B/chapter-I/part-82. Checked August 2026.