Imagine the stunned surprise when a Walton family member showed up at that 2003 World's Fair of Money to have their specimen examined! Without the word CENTS on the coin, the scammer purchased a cheap item priced below 5 cents, pay with a gold-plated nickel, and wait to see whether he got change for 5 cents or $5. As a result, the coin remained in the family's possession, being stored in a strongbox on the floor of a closet in his sister's home, for over 40 years. Of the five 1913 Liberty Head nickels, two have proof surfaces and the other three were produced with standard striking techniques. The latter sold the coin to Farouk, but his name has remained attached to it in numismatic circles ever since. Although the Walton heirs declined the $1 million offer, electing to retain the coin, the question still remains unanswered: Why would George Walton tell the coin show organizers in 1962 that he was bringing his specimen with him, only to leave it behind at home? The coin had become iconic to a generation of Americans, so when specimens were quietly sold off as singles from the original set of 5 or 6 (which until then had been held intact,) they sold for exorbitant sums of money, as much as $3,750 each. All of this hype and publicity have combined to drive an incredible demand for ownership of this classic United States coin. [14] On March 9, 1962, Walton died in a car crash en route to a coin show. It remained in Eliasberg's comprehensive collection until after his death. What Is the Value of a Buffalo (Indian Head) Nickel? These five-cent pieces were minted from 1883 to 1913. When Walton's heirs put his coins up for public auction in 1963, the nickel was returned to them, because the auction house had mistakenly determined the coin to be not genuine. The simple answer is because some persons are willing to pay extreme amounts of money for rare items, even if they are stolen, or in some cases even the item might be a fraud. [7] In 2007, it was sold to an unnamed collector in California for US$5 million. The 1913 Liberty Head Nickel. Other numismatic authorities, such as Q. David Bowers, have questioned this scenario, and pointed out that there are several methods by which the coins could have been legitimately produced; e.g., they may have been lawfully issued by the Mint's Medal Department "for cabinet purposes," or could have been struck as trial pieces in late 1912 to test the following year's new coinage dies. No Liberty nickels were made of that date officially, but some years later collectors were stunned to learn that five 1913 examples had surfaced—all of them apparently made on the sly by someone at the Philadelphia Mint. At that time, it was determined that the Walton specimen was genuine. With only five that are known to have been struck, this incredibly rare coin became the first to ever be sold for $100,000 in the early 1970's - quite a feat considering that it was worth a mere five cents when it was first minted. Mint officials failed to place the word CENTS on the coin, and it wasn't long before enterprising scammers began plating the nickels in gold and passing them off as $5 gold pieces! [15] In July 2003, the American Numismatic Association arranged to display the four specimens whose whereabouts were known. The Spruce Crafts uses cookies to provide you with a great user experience and for our, The Liberty Head Nickels Controversial Beginnings, An Early Media Darling - The Liberty Head Nickel. Time left 5d 16h left. The intact lot passed through the hands of several other coin dealers before finally being purchased by Colonel E. H. R. Green (son of the famous Gilded Age investor and miser Hetty Green), who kept them in his collection until his death in 1936. A U.S. How Much Liberty Nickels are Worth: Liberty Nickel Values & Coin Price Chart For Sale 1057 Auctions 0 Wishlist 12 Collection 1019 Liberty Head "V" Nickel (1883-1913) The 1913 Liberty Head Nickel is one of the most valuable coins in the world. The coin's seemingly huge price tag was allegedly a bargain. Coins Whichever theory you subscribe to, it's clear that the coins left the Mint in some unauthorized fashion, and indeed, no word of them surfaced at all until 1920, after the statute of limitations for theft had safely run out. The Liberty Head Nickel type, also called a V Nickel because of the large V on its reverse, was a well-publicized coin from the very beginning. The 1913 Liberty Head nickel is an American five-cent piece which was produced in extremely limited quantities unauthorized by the United States Mint, making it one of the best-known and most coveted rarities in American numismatics. George O. Walton, for whom the specimen is named, purchased it from Newman and Johnson in 1945 for approximately US$3,750, equal to $45,765 today. Thus it was that the Liberty Head Nickel became a favorite of the coin dealers and the media from its very inception. It remained in his collection until 1996, when it sold for $1,485,000. Only five specimens are confirmed to exist, although there is an intriguing hint that there might be a sixth. The simple answer is because some persons are willing to pay extreme amounts of money for rare items, even if they are stolen, or in some cases even the item might be a fraud. US. McDermott, is currently in the ANA World of Money Collection. It became the hopes and dreams of millions of Americans, to find that elusive rarity in their change for a dime. Another theory proposes that someone was burning the midnight oil at the Mint, and struck the five specimens before the dies were destroyed in preparation for the change to the Buffalo Nickel, which began production in late February of 1913. In 1972, one specimen of the five cent coin became the first coin to sell for over US$100,000;[1] in 1996, another specimen became the first to sell for over US$1 million. At the time the coins were shown (after this owner's death, and while still in the special case,) one of the coin slots had been filled by a bronze cast of the 1913 Buffalo Nickel. Burns and Furman have loaned Walton specimen to the American Numismatic Association for display in their Money Museum. [4] After his death, the coin was then sold at auction to Aubrey Bebee in 1967 for US$46,000, who along with his wife donated it to the ANA in 1989, where it is exhibited in the Money Museum.[19]. (It currently resides in PCGS capsule number 999999-001.) When it comes to the extraordinary premium placed on the price of rare coins, perception is everything. Of course, these coin dealers had plenty of nickels to sell to unsuspecting people. [4] The Numismatic Gallery regained possession of it, and sold it this time to Ambassador Henry Norweb and his wife. The Norwebs donated the specimen to the Smithsonian Institution’s National Numismatic Collection- where it remains [12]- in 1978 to commemorate their sixtieth wedding anniversary. By this time, the Walton heirs had seen many photos of the other genuine 1913 Liberty Nickels, thanks to the Internet. All were struck in copper-nickel, the same alloy being used already in the three-cent piece and the Shield nickel. The coin was sold at auction by the heirs in April 2013 for $3,172,500 to Jeff Garrett and Larry Lee. The Walton specimen is the most elusive of the five 1913 Liberty Head nickels; for over 40 years, its whereabouts were unknown and it was believed to have been lost. It has been graded Proof-64 by both PCGS and NGC, and was featured on an episode of Hawaii Five-O ("The $100,000 Nickel," aired on December 11, 1973). So why are people willing to pay millions of dollars to own a lowly 5-cent coin? The Indian Head (Buffalo) nickel was introduced in February 1913, replacing the Liberty Head design. One coin collector who was lucky enough to own a 1913 Liberty Nickel specimen for a while was George O. Walton. George O. Walton, for whom the specimen is named, purchased it from Newman and Johnson in 1945 for approximately US$3,750, equal to $53,256 today. When Newman and Johnson broke up the set of five coins, the Olsen specimen was sold first to James Kelly and then to Fred Olsen. Could a 100-year-old nickel really be worth $5 million? In 2003, one coin was sold for under three million dollars. USD $ GBP £ EUR € CNY ¥ JPY ¥. Learn more about "Liberty Head" V Nickel values & history on APMEX.com. ", "George O. Walton, Collector (1907–1962)", "Found! [18], Held by the American Numismatic Association's Money Museum in Colorado Springs, Colorado, the McDermott specimen has the distinction of being the only 1913 Liberty Head nickel with circulation marks on it. However, Brown had been a Mint employee in 1913, and many numismatic historians have concluded that he may have struck them himself (or had them struck) and taken them from the Mint. In addition, for just 50 cents, you could send away for his Star Rare Coin Encyclopedia. The appraisers at Heritage Auctions, where a 1913 Liberty Head nickel is set to be auctioned in April, certainly think so. [2] In May 2005, Legend Numismatics purchased the Eliasberg specimen for US$4,150,000. Samuel W. Brown (employed at the mint from 1903 to November 1913) - August Wagner (who advertised the five 1913 Liberty Nickels for sale in The Numismatist in late 1923 and early 1924) - Stephen K. Nagy (possibly a Wagner accomplice) - Wayte Raymond (either as owner or broker) - Col. E.H.R. People began hoarding them, and today, 1883 "no cents" specimens can readily be found in high grades as a result. US$250,000 worth of coins were recovered from the crash site, including the 1913 Liberty nickel, which was protected in a custom-made holder. You just can't mention Liberty V Nickels with out talking a little about the 1913 dated Liberty Nickel. He promised to pay $50 (the large sum of money back then) to anybody who found one in their pocket change and sent it to him. The 1913 Liberty Head nickel was illegally cast, discovered in a car wreck that killed its … It is worth noting that the second-best specimen of the 1913 Liberty Nickel, the Olsen coin, (graded Proof-64 by PCGS and NGC) also sold privately for $3 million on May 20, 2004. Two years after that, Farouk's possessions were all auctioned off by the new regime. There were only five of these stricken, and as of the year 2003 all five have been found and accounted for. PCGS reauthenticated the coin and sealed it a current PCGS Secure slab (holder). Over 70 million buffalo nickels were … It is believed that five specimens were struck at the U.S. Mint in Philadelphia sometime between the Summer of 1912 and early February of 1913. And they're right! A rare nickel worth $5 million is heading for auction in Pennsylvania next month, as part of the American Numismatic Association’s annual World’s Fair of Money convention. He had told the coin show promoters that he was bringing his 1913 Liberty Head Nickel with him so they could display it at the show. Millions Search for a 1913 Liberty Nickel, The 1913 Liberty Head Nickel - The Mother of All Hype. 0 bids +$4.70 shipping. In January 1924, Samuel Brown sold all five 1913 Liberty Head nickels. Paul Montgomery, Mark Borckardt, and Ray Knight. Eliasberg specimen. The Eliasberg specimen is the finest known 1913 Liberty Head nickel, with a grade of 66 from various professional grading services, including PCGS and NGC. There are certainly rarer U.S. coins, where only 1 or 2 specimens exist. He arranged with Bowers and Merena auction house (at the time a division of Collectors Universe, Inc.) to offer a minimum US$1 million to purchase the coin, or as a guarantee for consigning it to one of their public auctions. They stated that the new Liberty Head Nickel was about to be recalled by the Mint because of the "error" of omitting the denomination. Montgomery, Paul; Borckhardt, Mark and Knight Ray. With only five specimens known to exist, the coin has long fascinated collectors and gained widespread recognition after it was the focus of a popular American television show. It is believed that he used coin dies created in case the dies for the Buffalo nickel were not ready for production in time. A Legitimate 1913 Liberty Nickel is Condemned as a Fake, The Reward For the Missing 1913 Liberty Nickel. The Walton Specimen, officially ungraded but authenticated in 2003 by several experts. This catalog listed the prices he would pay for scores of other coins, (plus it had other useful information about coins, foreign and domestic.). Careful comparisons had been made, and they became convinced that their coin was worth another look, perhaps by a different expert. In 2010, the Olsen piece sold for US$3.7 million at a public auction. In 1949, it was purchased by King Farouk to replace the Olsen specimen, which he had sold. Could a 100-year-old nickel really be worth $5 million? The king of the 1913 Liberty Head nickel $50 offer, and the one many others likely followed in quoting that value, was Fort Worth, Texas, dealer B. Max Mehl. There was much speculation about the whereabouts of the coin. Or had it....? Of course, while many people explain away the 6-hole coin case as meaningless, and those who compiled early provenance lists for the 1913 Liberty Nickel got lots of facts wrong and sometimes listed owners (or coins) twice. 1913 Liberty Head Nickel Sells For $3.1 Million At Auction (PHOTOS) Each of them is owned either by a museum or a private collector. Mehl sparked a nationwide treasure hunt for the nickel that was worth $50, a princely sum of money during the Depression Era. After learning about the reward, the Walton heirs brought their coin to the ANA convention in Baltimore, where expert authenticators from Professional Coin Grading Service examined it at length and compared it to the other four known specimens. Shop at: APMEX David Lawrence L&C Coins Collectors Corner eBay U.S. Here's How to Find Out, 5 Major Factors Determine the Value and Price of Coins, Washington Presidential Dollar Error Coin Gallery. In addition, a US$10,000 reward was offered simply for letting representatives of Bowers and Merena be the first to see the missing fifth specimen when found. The Norweb Specimen, named for the previous owner Henry Norweb, is officially upgraded and in the permanent collection of the Smithsonian Institution. It remained in Farouk's collection until he was deposed by Gamal Abdel Nasser in 1952. King Farouk of Egypt reportedly had two different 1913 Liberty Nickel specimens in his world-class coin collection at different times. The new type was introduced in 1883 and struck until 1913. All were very simple in design, with the Liberty head on the obverse and a Roman numeral—I, III or V—on the reverse within a wreath, signifying values of one, three and five cents, respectively. US Liberty Head V Nickel 1883 to 1913 Most Liberty, or 'V', nickels catalog for about $2 US dollars in worn condition. The Mint changed the design of the Liberty Nickel to add the word CENTS about halfway through the mintage run. Coins. The finest-known 1913 Liberty Nickel is valued at a minimum of $5 million, … Bowers and Merena joined the fun, guaranteeing a $1 million sale price if whoever had the coin would put it up for auction. In 1972, it was sold to World Wide Coin Investments for US$100,000, thus inspiring its title appearance in Hawaii Five-O the following year. $185.00. It catalogs around $100. Find the value of your 1883-1913 "Liberty Head" V Nickel today! They had found a 1913 Liberty Head Nickel in Walton's effects at home following his death, and taken it to a leading numismatic firm for authentication. Its price doubled to US$200,000 when it was resold to Superior Galleries in 1978. $1,242.40 $0.10. In addition to the 1913 Liberty Head nickel, there are a few key dates worth noting in the series. This was possible because the Liberty Head Nickel was a brand new type, and people weren't familiar with it yet, plus it was about the same diameter as the $5 gold piece currently circulating in United States commerce. In 2003, one coin was sold for under three million dollars. However, they are also highly counterfeited. This coin was purchased from Newman and Johnson by the Numismatic Gallery, a coin dealership that then sold it to famed collector Louis Eliasberg. It has been resold on several occasions since then, fetching US$3,000,000 in a private treaty sale from California collector Dwight Manley to Bruce Morelan and Legend Numismatics in June 2004. A coin known as the the 1913 Liberty Head nickel sold for $3.1 million at an auction Thursday, according to UPI. See prices and values for Liberty Head Five Cents (1883-1913) in the NGC Coin Price Guide. Liberty Nickel, MS | Liberty Nickel, PR. Liberty Nickel (1883-1913) Auction Prices Population CoinFacts Photograde ™. Entrepreneur and enterprising coin dealer B. Max Mehl of Fort Worth, Texas, spent a fortune advertising for specimens of the 1913 Liberty Head Nickel. In one well-publicized court trial, a jury was unable to convict the alleged scammer because nobody could testify that he had ever said that the coins were worth $5. [9] It was also briefly owned by King Farouk of Egypt.[6]. He had previously placed an advertisement in the December 1919 issue of The Numismatist soliciting information on these coins, offering to pay US $500 for each[3] and ostensibly purchasing them as a result. It is on exhibit at the Smithsonian Institution. The thing to remember about these is, if you find one, it's fake! Liberty Nickel (1883-1913) Auction Prices Population CoinFacts Photograde ™ Shop at: APMEX David Lawrence L&C Coins Collectors Corner eBay U.S. These uncirculated coins have sold for record-breaking amounts over the years. On March 9, 1962, Walton was on his way to a coin show in his automobile. 1883-1913 Liberty Head Nickel Set - Whitman Folder No. Unfortunately, Walton never made it, having lost his life in a car crash while en route. He had promised the show's promoters that he would exhibit the 1913 Liberty Head nickel there, so it was assumed to have been among the coins in his possession at the time of the fatal crash. In 1913 the Liberty Head design gave way to the Indian Head/Buffalo type. By the mid-1940s, the 1913 Liberty Head Nickel was an integral part of the national psyche. At least six different world-class experts examined the Walton coin, and they unanimously agreed that the coin was genuine! The Norweb specimen is one of two 1913 Liberty Head nickels that have ended up in museums. The answer is hype. Then, just over 2 years later, it sold once more for $3 million in a private transaction. The 1913 nickel value ranges from $7 for a well circulated coin to over $460 for the rare 1913-S Type 2 Buffalo nickel in "Uncirculated" condition. However, in August 2018, the coin sold again at a Stacks Bowers coin auction for only $4,560,000. Most people would agree that there are more artistically beautiful coins such as the St. Gaudens $20 gold coin. Is There a Sixth Specimen of the 1913 Liberty Nickel? Apparently, Walton's heirs never clarified matters. or Best Offer +$3.33 shipping. "This is one of the greatest coins at that price range," Jeff Garrett, one of two co-buyers, told UPI. Following this news, the Walton heirs kept quiet about things and for forty years, nobody knew what had ever happened to the Walton specimen. Are Your Nickels Worth Big Bucks? Ambassador, Henry Norweb, claimed ownership of one, as did L.A. Lakers owner Jerry Buss. The U.S. Mint sometimes ran off coins as tests and the coins may have been struck that way, Smith said. The known examples of this numismatic rarity carry impressive pedigrees and […] The coin lost some of its original mint luster in the process, and McDermott eventually protected it in a holder to prevent further wear. [4] Bowers, however, did not entirely discount the private minting theory.[5]. The Liberty Head Nickel, designed by Charles E. Barber, was minted from 1883 to 1913. Today, two are on public display—at the Smithsonian Institution in Washington and the ANA's Money Museum in Colorado Springs, while three are owned privately. Boyd, who then resold it to the Numismatic Gallery (which handled several of the coins over the years). The 1885 Liberty Head nickel is selling for at least $600 in the grade of Good. It supposed that 6 exist but only 5 are known and the last example sold for $3,172,500. Did Walton Have the Sixth Specimen With Him in 1962? One price recorded for a 1913 Liberty Head nickel was in January 2010, when one sold for $3,737,500 in an auction. Only five specimens are confirmed to exist, although there is an intriguing hint that there might be a sixth. Some people were certain that someone had stolen it, while others felt it had been lost at the scene. While it is quite attractive, and shows the Morgan style of artwork, it is the coin's rarity which makes it valuable. [10][11] The latest owner's name has not been disclosed. Eliasberg specimen. When it was auctioned again in March 2001, the price climbed to US$1,840,000. In July of 2003, the American Numismatic Association (ANA) organized a reunion of sorts for the four remaining known specimens of the 1913 Liberty Nickel. It was struck for circulation from 1883 until 1912, with at least five pieces being surreptitiously struck dated 1913. Rumors began to fly, fueled by the press and by coin dealers. In June 2018, Garrett and Lee sold the 1913 Walton coin, in a private treaty sale reported to be between $3 and $4 million to Martin Burns and Ron Firman. 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