Rare 1913 Liberty Head Nickel: A nickel worth millions might sound impossible, but for rare coin collectors, it’s a reality. A 1913 Liberty Head nickel, one of the rarest coins in the world, was sold for an astonishing $4.15 million. This sale made headlines because this particular nickel was one of only five known to exist, marking it as an extraordinary collector’s item. Let’s dive into the history behind this unique coin and how it reached a price that is over 83 million times its original face value.
The Historic Sale
On Thursday, June 2, 2005, a rare 1913 Liberty Head nickel was sold to Legend Numismatics, a coin dealership based in New Jersey, for an eye-popping $4.15 million. This was the second-highest price ever paid for a rare coin. The nickel, previously owned by collector Ed Lee of Merrimack, New Hampshire, was one of only five such coins known to exist.
Why Is It So Valuable?
The 1913 Liberty Head nickel stands out as one of the most coveted coins in American history. According to Laura Sperber, co-president of Legend Numismatics, owning this nickel is a truly unique experience, unlike any other coin ownership. What makes it even more special is that it was minted illegally, making its existence even more fascinating. These nickels were never intended for circulation, as they were made in secret, most likely by a mint official.
The Legacy of the 1913 Liberty Head Nickel
Liberty Head nickels were minted from 1883 to 1912. In 1913, the design was changed, and “Miss Liberty” was replaced by the Indian, or Buffalo, nickel. However, five of the 1913 Liberty Head nickels were produced, despite the design change, leading to their rare and illegal status. For years, they were considered illegal to own because they were not part of the regular mint issue, but they resurfaced in the 1920s.
Previous Record and Other High-Value Coins
Before this sale, the record price for a 1913 Liberty Head nickel was $3 million, paid just a year prior. The highest price ever paid for any coin is $7.59 million, for a 1933 U.S. $20 gold piece, sold in 2002. Rare coins like these gain significant value over time, especially when they have unique backstories and historical significance.
Where Is It Now?
After purchasing the 1913 Liberty Head nickel, Legend Numismatics displayed it at a coin show in Long Beach, California. “We are going to display it and enjoy the hell out of it,” said Sperber. Coin shows and exhibitions are often where collectors and enthusiasts get to witness such rare treasures firsthand, fueling interest and passion for numismatics.
Other Valuable Nickels
While the 1913 Liberty Head nickel is in a class of its own, other nickels can also command high prices. For example, certain Buffalo nickels, especially those minted in 1916 with unique errors, are highly sought after by collectors. Additionally, Jefferson nickels from rare years can also fetch considerable sums.
Why Collectors Seek Out Rare Coins
Collectors are willing to pay millions for rare coins for several reasons. First, the historical significance of these coins adds immense value. Second, the rarity of certain coins, like the 1913 Liberty Head nickel, makes them almost impossible to find, driving up their worth. Lastly, owning such a coin can be a status symbol, showcasing one’s wealth and passion for history.
Conclusion
The 1913 Liberty Head nickel that sold for $4.15 million is an incredible example of how rare coins can reach unimaginable values. With only five in existence, this coin has a legacy that makes it one of the most famous in numismatic history. Its illegal origin, historical importance, and rarity have made it an object of desire for collectors. While most of us won’t retire on a nickel, for those lucky enough to own one of these treasures, the story is quite different.
Table: Key Facts About the 1913 Liberty Head Nickel
| Fact | Details |
|---|---|
| Coin Type | Liberty Head Nickel (1913) |
| Number of Coins in Existence | 5 |
| Price Sold (2005) | $4.15 million |
| Previous Record Price | $3 million (2004) |
| Minting Year | 1913 |
| Mint Status | Illegally minted, not intended for circulation |
| Design Replaced By | Buffalo Nickel |
| Buyer (2005) | Legend Numismatics |
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FAQs
Why is the 1913 Liberty Head nickel so valuable?
The 1913 Liberty Head nickel is valuable because only five were illegally minted, making it one of the rarest American coins. Its unique history and scarcity drive its high value.
How much did the 1913 Liberty Head nickel sell for?
In 2005, the 1913 Liberty Head nickel was sold for $4.15 million, making it one of the most expensive coins in history.
Who bought the nickel in 2005?
Legend Numismatics, a coin dealership in New Jersey, purchased the coin from collector Ed Lee for $4.15 million.
What is the highest price ever paid for a coin?
The highest price ever paid for a coin was $7.59 million in 2002, for a 1933 U.S. $20 gold piece.
What makes the 1913 Liberty Head nickel different from other Liberty Head nickels?
While Liberty Head nickels were regularly minted from 1883 to 1912, the 1913 version was made illegally and never intended for circulation, making it extremely rare.