Nickels, often thought of as mere five-cent pieces, can hold incredible value in the world of numismatics. While most nickels circulate with little fanfare, a select few are highly sought after by collectors due to their rarity, historical significance, or minting errors.
In this article, we will delve into the top 10 most valuable nickel coins, exploring their historical context, unique characteristics, and the prices they command at auctions.
1. 1913 Liberty Head Nickel (PR66)
The 1913 Liberty Head nickel is one of the most iconic and valuable coins in American numismatic history. Only five proof examples are known to exist, making it extraordinarily rare. The production of this coin was unauthorized by the U.S. Mint, which adds to its intrigue and value.
The finest example, graded PR66, was sold for an astounding $4.56 million in 2018, and its current value has been estimated at $6.25 million. This coin’s rarity, coupled with its mystery surrounding its unauthorized production, makes it the holy grail of nickel collecting.
2. 1937-D Buffalo Nickel, 3 Legs (MS66)
The 1937-D Buffalo Nickel with the “3 Legs” error is another highly valuable coin. A result of over-polishing the die, this coin shows a buffalo with its front leg nearly erased, creating the “3 Legs” variant.
While around 1,000 of these coins are known to exist, they remain highly sought after, especially those in mint state.
The finest example, graded MS67, has been valued at approximately $150,000. A coin graded MS66+ fetched nearly $100,000 at auction in 2021, reflecting its rarity and collector demand.
3. 1916 Buffalo Nickel, Double Die Obverse (MS63)
The 1916 Buffalo Nickel, featuring a double die obverse error, is a favorite among collectors.
This error occurs when the die strikes the coin more than once, resulting in a doubling of the design. Although it went unnoticed for decades, once recognized, the coin gained a significant following.
The PCGS values an example in poor condition at $2,700, while mint state coins can exceed $55,000. The finest known example, graded MS63, sold for $138,000 in 2022, with its current value estimated at $175,000.
4. 1938-D/S Buffalo Nickel
The 1938-D/S Buffalo Nickel is known for its “D over S” mintmark error. Some of the coins struck in Denver during 1938 feature the Denver mintmark punched over a San Francisco mintmark.
The most valuable coins are those where the overpunched mintmark is visible, with examples graded MS68* fetching over $30,000 at auction.
In 2004, a coin graded MS68* sold for $25,300, and it has since appreciated in value, now being valued around $30,000 by the PCGS.
5. 1954-S Jefferson Nickel, MS67 Full Step
The 1954-S Jefferson Nickel, minted in San Francisco, is rare due to its “Full Step” designation, which refers to the full visibility of the steps on Monticello, Thomas Jefferson’s home, depicted on the reverse. Out of the 29 million coins minted that year, only 25 were awarded the Full Step designation.
A coin in MS67 Full Step condition is valued at over $50,000. Its rarity and condition make it one of the most valuable Jefferson nickels in circulation.
6. 1938-D Jefferson Nickel, MS68+ Full Step
The 1938-D Jefferson Nickel is another sought-after coin, especially those with the Full Step designation.
These coins are rare because, in the early years of the Jefferson Nickel series, the mint struggled to achieve a clear strike of the steps on Monticello.
A coin graded MS68+ with Full Step designation sold for $33,600 in 2022, and today, such coins are highly valued by collectors, with the PCGS estimating the price at $35,000.
7. 1918/7-D Buffalo Nickel (MS65)
The 1918/7-D Buffalo Nickel is a notable overdate error, where the “7” can be seen beneath the “8” in the date. Although over 8 million nickels were struck in Denver in 1918, only around 7,000 of these overdate coins exist. This scarcity makes the coin highly valuable.
A gem-quality example, graded MS65, set a record when it sold for $350,750 in 2006. Today, it is estimated to be worth around $450,000, making it one of the most valuable Buffalo Nickels.
8. 1880 Shield Nickel, MS66
The 1880 Shield Nickel is a rare coin from the Shield Nickel series, with a mintage of just 19,995 coins. Its low mintage and distinctive design make it highly collectible, especially in mint state condition.
The finest examples, graded MS66, have sold for over $198,000, with an auction record of $125,000. These coins continue to be sought after by collectors due to their rarity and condition.
9. 1936-D Buffalo Nickel, 3 ½ Legs (MS63)
The 1936-D Buffalo Nickel with the “3 ½ Legs” error is another highly collectible coin. Created by die over-polishing, the front foreleg of the buffalo is partially removed, resulting in the “3 ½ Legs” variant. Only around 300 examples of this coin are known to exist, making it extremely rare.
The finest example, graded MS63, sold for $20,700 in 2009. Today, it is estimated to be worth $30,000, with its rarity ensuring high demand from collectors.
10. 1913 Liberty Head Nickel, PR66
The 1913 Liberty Head Nickel is another one of the rarest and most valuable coins in U.S. history. Only five known examples exist, and they were produced without official authorization. Their rarity and mystery make them highly sought after by numismatists and investors alike.
The PR66 grade of this coin set a record for the highest price ever paid for a nickel when it sold for $4.56 million in 2018. Today, the coin is valued at $6.25 million, making it the most expensive nickel ever sold.
Conclusion
Nickel coins may seem like small change, but certain rare examples are worth a fortune in the world of numismatics. From the 1913 Liberty Head Nickel to the 1936-D Buffalo Nickel with its “3 ½ Legs” error, these coins have proven to be highly valuable due to their rarity, unique features, and condition.
Whether you are a seasoned collector or just starting, understanding these valuable nickels will help you identify potential treasures in your own collection.
FAQs
1. What makes a nickel valuable?
Rarity, historical significance, mint errors, and condition are key factors that determine the value of a nickel. Coins with unique features like overdates, full strikes, or low mintages are especially sought after.
2. How can I tell if my nickel is worth money?
Look for rare mintmarks, errors, or distinctive features such as Full Step or 3 Legs. Coins in mint condition (graded MS65 and above) are generally more valuable.
3. What is a “Full Step” designation?
A Full Step designation indicates that the steps on the reverse side of the Jefferson Nickel, specifically on Monticello, are fully visible and distinct. Coins with this designation are much rarer and more valuable.
4. Why is the 1913 Liberty Head Nickel so valuable?
Only five examples of the 1913 Liberty Head Nickel exist, and they were never authorized by the U.S. Mint. Their rarity, combined with the mystery surrounding their production, makes them extremely valuable.
5. How does coin grading affect value?
Coin grading determines the condition of a coin, with higher grades (e.g., MS65, MS66) reflecting better preservation and command higher prices. Coins with higher grades, especially those with unique characteristics, are worth more.
