The 1913 Liberty Head Nickel is the world’s rarest and most expensive coin. The coin is regarded as highly sought after in the world of American numismatics. The coin is so rare that its value has reached a staggering $5 million when sold at auction.
Let us understand the history, characteristics and significance of this unique coin in detail and know how it earned the record price tag.
1913 Liberty Head Nickel: A Rare Heirloom
The 1913 Liberty Head Nickel is a five-cent coin that was made in extremely small quantities and without official sanction. The fact that this coin exists has intrigued scholars and collectors throughout the years, making it a significant spot in the world of rare coin collecting.
Historical Context and Origin
In 1913, the US Mint formally released the Buffalo (Indian Head) Nickel by eliminating the Liberty Head design. But astonishingly, five Liberty Head nickels of the year 1913 were clandestinely produced.
There are varying speculations regarding the production of these coins. Some speculate they were clandestinely produced by Mint workers, and others speculate that they were prototype coins produced for testing. Their actual origins are unknown.
Five Known Specimens
Just five 1913 Liberty Head nickels have been known to exist, and each one has an interesting story:
| Name | Description | Current Condition |
|---|---|---|
| Eliasberg Specimen | In the finest condition, grade PR-66. Sold in 2007 for $5 million. | Private Collection |
| Olson Specimen | Grade PR-64. Previously owned by King Farouk of Egypt. Appeared on the TV series “Hawaii Five-O.” | Private Collection |
| Norweb Specimen | Displayed at the Smithsonian Institution. | Smithsonian Institution |
| McDermott Specimen | Exhibited at the American Numismatic Association’s (ANA) Money Museum. | ANA Money Museum, Colorado Springs, CO |
| Walton Specimen | Discovered after missing for decades. Sold in 2014 for $3.2 million. | ANA Money Museum, Colorado Springs, CO |
Historic Auction of Eliasberg Specimen
The Eliasberg 1913 Liberty Head nickel is among the most highly sought-after coins because of its near-mint condition and historical value. It was sold at auction in April 2007 for $5 million, the highest known price paid for a U.S. coin at that time.
Why this coin has a higher value
Several reasons lie behind the value and historical uniqueness of this coin:
- Extreme rarity: Since only five specimens of this coin exist, it is highly sought after.
- Condition: Coins with better grades, e.g., PR-66 graded Eliasberg specimen, fetch better prices.
- Famous ownership: Coins that were previously owned by famous collectors or historical figures sell for more money. For instance, coins owned by King Farouk or Louis E. Eliasberg are deemed to have more historical importance.
- Historical significance: The illicit minting and cryptic origin of this coin have served to make it even more desirable.
Conclusion
The 1913 Liberty Head Nickel is more than a coin, but it is a representation of history, intrigue, and scarcity. Its rarity, high quality, and intriguing history make it one of the most sought-after coins among coin collectors. Whether it fetches record-breaking prices at auction or is exhibited in museums, this coin will forever hold its legendary status in the numismatic world.
FAQs
Q1. Why is the 1913 Liberty Head Nickel so valuable?
The coin is extremely rare, with only five known specimens, and was produced without official authorization, adding to its intrigue and desirability.
Q2. How much is a 1913 Liberty Head Nickel worth today?
The highest recorded sale was $5 million in 2007, but its value can vary depending on condition and demand.
Q3. Where can I see a 1913 Liberty Head Nickel?
Two specimens are displayed at the Smithsonian Institution and the American Numismatic Association’s Money Museum.
Q4. Who owned the most famous 1913 Liberty Head Nickel?
The Eliasberg specimen, considered the finest, was once owned by renowned collector Louis E. Eliasberg.
Q5. Was the 1913 Liberty Head Nickel legally produced?
No, it was struck unofficially at the U.S. Mint under mysterious circumstances, making it one of numismatics’ greatest unsolved mysteries.