The 1913 Liberty Head Nickel is one of the rarest and most valuable coins ever made. Only five coins are known to exist, but some people think there might be a sixth one. The most perfect 1913 Liberty Nickel sold for $5 million in May 2007.
But in August 2018, it sold again for $4,560,000 at a coin auction held by Stack’s Bowers. This shows how prices for rare coins can change depending on who’s buying and selling and how much demand there is for it at the time.
The Liberty Head Nickel’s Strange Start
Charles E. Barber designed the Liberty Head Nickel, which was made from 1883 to 1913. Like today’s nickels, these were mostly copper—75% copper and only 25% nickel. This coin, also called the “V Nickel” because of the big “V” on the back, got lots of attention when it first came out.
The Mint forgot to put the word “CENTS” on the coin, which led to scammers gold-plating them and tricking people into thinking they were $5 coins because they looked similar in size and color.
Scammers Took Advantage of the Missing Word
Since the word “CENTS” was missing, scammers took advantage. They would buy cheap items with gold-plated nickels and get change as if they had paid with $5 gold coins. Back then, people didn’t know what these new nickels looked like. In one famous case, a deaf-mute man was caught doing this.
However, because he never said the coins were $5, and no one could prove he lied, he wasn’t convicted in court. This shows how confusion helped scammers cheat people.
Media Attention Made the Nickel More Famous
Soon after the coin came out, rumors started spreading. Newspapers and coin dealers claimed the Mint might take back the coins due to the missing word. Coin dealers had lots of these nickels and used the hype to sell them to people who didn’t know better. Many people started saving them.
Because of this, you can still find the 1883 “No Cents” nickels in great shape today. Later, the Mint fixed the design and added the word “CENTS” to stop the confusion.
Why Is the 1913 Liberty Nickel Worth So Much?
You might wonder why this nickel is worth millions when there are even rarer or more beautiful coins. Some coins are more historic, and others look nicer. So why is this simple 5-cent coin so expensive? The reason is hype. During the Great Depression, people needed hope.
The story of this coin helped inspire that. Coin dealers used that feeling and made the 1913 Liberty Nickel a symbol of dreams and rare fortune, which added to its value and popularity.
A Nation Searching for the Rare Nickel
Coin dealer B. Max Mehl from Fort Worth, Texas, spent a lot of money advertising that he’d pay $50 to anyone who found a 1913 Liberty Nickel. Back then, $50 was a lot of money. He also sold his Rare Coin Encyclopedia for 50 cents, which listed prices he would pay for other coins.
His ads started a nationwide search. Even train conductors would stop service to check nickels they received in fares, hoping to find this valuable and mysterious coin.
Hype Turned the Nickel into a Legend
By the 1940s, the 1913 Liberty Nickel was famous across America. When coins from the original set of five were sold separately, each sold for high prices. At one point, they reached $3,750 each. Each time one was sold, the price increased and the legend grew.
King Farouk of Egypt owned two of them. One even appeared in a TV episode of “Hawaii Five-0.” U.S. Ambassador Henry Norweb and Lakers owner Jerry Buss also owned one. The price kept climbing with each sale.
How Were These Five Coins Made?
No one knows exactly how the five 1913 Liberty Nickels were made. Experts think they were struck at the Philadelphia Mint sometime between mid-1912 and February 1913. One theory is they were test pieces made before the Mint switched to the Buffalo Nickel.
Another theory says someone made them secretly late at night before destroying the old dies. The dies used were high quality, so it’s unlikely someone outside the Mint made them. However they were made, the coins left the Mint unofficially.
Could a Sixth Nickel Exist?
In 1953, a coin magazine shared a story that one collector had a special case made for the five 1913 Liberty Nickels—with six slots in it. One slot was filled with a bronze copy of a 1913 Buffalo Nickel. Early records trying to list who owned which coin often had mistakes.
Some lists even had six coins. People argue that the sixth slot doesn’t prove anything, but it adds mystery to the story. Maybe there really was a sixth coin that’s now lost.
A Real Nickel Was Once Called a Fake
Collector George O. Walton once owned a 1913 Liberty Nickel. In 1962, he died in a car crash on his way to a coin show. He had told organizers he’d bring his rare nickel to the event, but after the crash, the coin couldn’t be found.
His family later found the nickel at home and asked experts to check it. They said it was fake, just a real nickel that had been changed. So the family stayed quiet, and for 40 years, the coin was missing.
A Lost Nickel Finally Reappears
In 2003, the American Numismatic Association held a reunion for the four known 1913 Liberty Nickels. To make it more exciting, they offered a big reward to anyone who could find the missing fifth coin. The Walton family, now curious, brought their nickel to the event for another check.
This time, six expert coin graders confirmed it was real! After 40 years, the lost 1913 Liberty Nickel had returned. Or had it? Some questions still remained about what George Walton had done back in 1962.
Did Walton Really Have Two Nickels?
Even though the Walton family kept their coin instead of selling it for $1 million, people still wondered. Why would Walton say he was bringing the coin to the show and then leave it at home? Is it possible that a sixth coin flew out of the car during the crash or was taken by someone nearby? Maybe the mystery nickel is still sitting in a jar or old box, waiting to be discovered. The world may never know, but the legend lives on.
The Five Known Specimens of the 1913 Liberty Nickel
Below are the five known 1913 Liberty Head Nickels that still exist today:
| Specimen Name | Grade | Notes |
|---|---|---|
| Eliasberg Specimen | PCGS & NGC PR-66 | Owned by Louis Eliasberg; sold multiple times, last seen for $3 million |
| Olsen Specimen | PCGS & NGC PR-64 | Sold in August 2003 for $3 million to an anonymous buyer |
| Walton Specimen | Ungraded (authenticated) | Found in 2003; sold in 2013 for $3.17 million; now displayed in ANA Money Museum |
| Norweb Specimen | Officially upgraded | Owned by Henry Norweb; now part of the Smithsonian Institution’s collection |
| McDermott Specimen | NGC PR-55 | Previously owned by J.V. McDermott; housed in ANA World of Money Collection |
FAQs
Is the 1913 Liberty Nickel made of real gold?
No, it’s not made of gold. It is 75% copper and 25% nickel, just like modern nickels.
Can I find a 1913 Liberty Nickel in circulation today?
It’s extremely unlikely. Only five are known, and all are accounted for in collections.
Why didn’t the Mint recall the 1913 Nickels?
They weren’t made officially, so the Mint never had a reason to issue or recall them.
Is the missing sixth coin real or just a rumor?
There’s no proof, but several clues suggest that a sixth coin might exist somewhere.
