The numismatic world continues to be mesmerized by one of America’s most legendary coins: the 1913 Liberty Head Nickel. Recent sales have shattered previous records, with one specimen fetching an astounding $4.2 million in 2022, while another reached $4.5 million in 2018. These extraordinary prices reflect not just the coins’ extreme rarity, but their fascinating origin story that reads like a numismatic thriller.
The Mystery Behind America’s Most Famous Coins
An Unauthorized Creation
The 1913 Liberty Head Nickel represents one of the most intriguing chapters in U.S. minting history. In 1912, the U.S. Mint officially discontinued the Liberty Head design in favor of James Earle Fraser’s new Indian Head (Buffalo) nickel. However, five Liberty Head nickels bearing the 1913 date were clandestinely struck by Philadelphia Mint official Samuel W. Brown, creating what would become the holy grail of American coin collecting.
These coins were never officially recorded in mint production logs, making their very existence an anomaly. Brown kept their creation secret until 1919, when the statute of limitations for prosecuting him had expired. This mysterious origin story has captivated collectors for over a century, transforming these coins from mint oddities into million-dollar treasures.
The Five Legendary Specimens
Each of the five known 1913 Liberty Head Nickels has earned its own distinctive identity and provenance:
The Eliasberg Specimen stands as the finest known example, graded PR-66 by professional grading services. This coin has commanded the highest prices, selling for $5 million in 2007 and being part of a record-breaking $13.35 million three-coin transaction in 2021.
The Walton Specimen carries perhaps the most dramatic story. After surviving a deadly automobile crash in 1962 that killed its owner George O. Walton, the coin was stored in a family closet for decades before being rediscovered in 2003. It sold for $4.2 million in 2022 to GreatCollections.
Current Market Values and Recent Sales
Record-Breaking Transactions
The market for 1913 Liberty Head Nickels has reached unprecedented heights in recent years. The most significant transactions include:
GreatCollections made headlines in 2022 by acquiring the Walton specimen for $4.2 million, marking the second ultra-rare 1913 nickel the company purchased within twelve months. This acquisition followed their record-setting $13.35 million purchase of the Eliasberg specimen as part of a three-coin transaction that also included an 1804 silver dollar and an 1894-S proof dime.
These sales demonstrate the continuing strength of the rare coin market, particularly for pieces with both historical significance and extreme scarcity. Ian Russell, president of GreatCollections, noted that all three privately-held specimens changed hands within a twelve-month period, suggesting that collectors may not see another opportunity to acquire one of these coins for decades.
Investment Performance
The appreciation trajectory of these coins tells a remarkable story of numismatic investment success. Consider the price evolution of individual specimens: coins that sold for thousands in the mid-20th century now command millions. The McDermott specimen, purchased for $46,000 in 1967, would likely bring several million dollars if offered at auction today.
The Two Museum Specimens
Permanent Public Display
Two of the five 1913 Liberty Head Nickels reside in prestigious museum collections, ensuring public access to these numismatic treasures. The Smithsonian Institution’s National Numismatic Collection houses one specimen, donated by collectors Hon. and Mrs. R. Henry Norweb in 1982. This placement in America’s national collection underscores the coins’ significance to U.S. monetary history.
The American Numismatic Association’s Money Museum in Colorado Springs displays another specimen, known as the McDermott nickel. This coin bears the distinction of being the only 1913 Liberty Head Nickel showing circulation marks, evidence that its former owner J.V. McDermott carried it as a pocket piece, proudly displaying it to anyone who would listen.
Why These Coins Command Such Premium Prices
Perfect Storm of Rarity Factors
Several factors converge to create the extraordinary value of 1913 Liberty Head Nickels. The finite quantity of just five specimens creates the ultimate scarcity scenario in numismatics. Unlike other rare coins where additional examples might theoretically be discovered, the 1913 Liberty Head series is definitively limited to these five pieces.
The unauthorized nature of their creation adds another layer of mystique and collector appeal. These coins represent a unique moment when an individual mint employee created what would become some of America’s most valuable coins, operating outside official channels but using genuine mint equipment and dies.
Cultural Impact and Recognition
The 1913 Liberty Head Nickel has transcended numismatic circles to become part of American popular culture. Texas coin dealer B. Max Mehl spent over $1 million advertising these coins during the 1920s and 1930s, making them household names. His widespread advertising campaign led millions of Americans to check their pocket change, hoping to discover this elusive treasure.
The coins have appeared in television shows, including the crime drama “Hawaii Five-O,” and continue to capture public imagination. This cultural recognition extends their appeal beyond serious collectors to include anyone fascinated by American history and treasure hunting.
The Hunt Continues: Could More Exist?
Ongoing Speculation
While numismatic experts firmly believe only five specimens exist, the recent discovery stories and ongoing public interest maintain hope that additional examples might surface. Estate sales, family collections, and forgotten safe deposit boxes represent potential sources for discovery, though the likelihood remains extremely remote.
Professional authentication has become increasingly sophisticated, making it virtually impossible for modern reproductions to fool experts. The Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC) have extensively documented the five known specimens, creating detailed records that help prevent counterfeiting attempts.
Market Outlook
The future market for 1913 Liberty Head Nickels appears exceptionally strong. With two specimens permanently housed in museums and the three remaining examples now held by serious collectors or auction houses, market supply remains effectively frozen. This scarcity, combined with growing wealth among collectors and continued public fascination, suggests that prices will continue appreciating.
The coins’ status as first-generation American numismatic rarities, comparable to classic items like the 1804 silver dollar and 1933 double eagle, ensures their position at the pinnacle of the collecting hierarchy. Each transaction becomes a significant numismatic event, closely watched by collectors, investors, and media worldwide.
The 1913 Liberty Head Nickel represents more than just a rare coin; it embodies the romance of American collecting, the thrill of discovery, and the enduring appeal of objects that connect us to our monetary heritage. For the fortunate few who own these pieces, they possess not just valuable assets, but tangible links to one of numismatics’ greatest mysteries.
Frequently Asked Questions
Q: How can I tell if I have a real 1913 Liberty Head Nickel? A: Authentic 1913 Liberty Head Nickels are extremely rare with only five known to exist. Any potential discovery requires immediate professional authentication by PCGS or NGC, as counterfeits are common.
Q: Where are the five 1913 Liberty Head Nickels currently located? A: Two specimens are in permanent museum collections (Smithsonian and ANA Money Museum), while three are privately owned by collectors and auction houses.
Q: What makes these coins so valuable compared to other rare nickels? A: The combination of extreme rarity (only five known), unauthorized minting, fascinating provenance stories, and over a century of collector demand creates their extraordinary value.