In the vast and intricate world of coin collecting, certain coins rise above the rest not just in value but in the stories they carry. One such coin is the 1913 Liberty Head Nickel. With only five known examples in existence, its fame isn’t just due to its rarity. It’s about the mystery, the controversy, and the almost mythical nature of its origin.
The 1913 Liberty Head Nickel is a coin that was never officially supposed to exist. Yet somehow, against all odds and without official records, five of them made their way into private hands. This coin has since become one of the most coveted and talked-about numismatic items in American history.
The Liberty Head Nickel: A Brief Background
Before the controversy, the Liberty Head Nickel, also known as the “V” nickel (for the Roman numeral five on the reverse), was minted from 1883 to 1912. It featured the profile of Lady Liberty on the obverse and a large Roman numeral “V” surrounded by a wreath on the reverse. It was a common coin of its time, used in everyday transactions across the United States.
In 1913, the Liberty Head design was officially replaced by the Buffalo Nickel. This change marked the end of an era, and the minting of Liberty Nickels should have concluded in 1912. But history had a strange twist in store.
The Enigmatic Birth of the 1913 Nickel
No official mint records show that any Liberty Head Nickels were struck in 1913. And yet, five examples surfaced later, all dated 1913. This has puzzled historians and collectors for more than a century.
The leading theory is that the coins were secretly produced by someone within the U.S. Mint most likely in the final days of the Liberty Head design. Because they were never authorized, their creation technically falls into a gray area, possibly illegal but never prosecuted.
Samuel Brown and the First Public Appearance
The name Samuel W. Brown plays a pivotal role in the story. A former U.S. Mint employee, Brown placed a curious ad in a coin magazine in 1919, offering to buy any 1913 Liberty Head Nickels for $500 a huge sum at the time. A year later, he suddenly had five such coins and displayed them at the 1920 American Numismatic Association convention.
This raised more than a few eyebrows. Many believe Brown had access to minting equipment or struck deals with insiders who had made the coins quietly. Whether he created them himself or merely acquired them is still debated, but there’s little doubt he was instrumental in their mysterious emergence.
The Five Famous Specimens
Each of the five known 1913 Liberty Head Nickels has its own nickname and unique history:
- The Eliasberg Specimen – Considered the finest known example in pristine condition. Once owned by legendary collector Louis Eliasberg.
- The Olsen Specimen – This coin was once featured on an episode of Hawaii Five-O and even owned by King Farouk of Egypt.
- The Norweb Specimen – Donated to the Smithsonian Institution and held in their collection.
- The Walton Specimen – Long thought lost, it resurfaced in 2003 after being stored away by the Walton family, who believed it was a fake.
- The McDermott Specimen – Notable for having visible signs of wear, it was often shown off by its owner in public.
The Rediscovery of the Walton Nickel
One of the most dramatic moments in the coin’s history occurred in the early 2000s. George Walton died in a car crash in 1962, and his supposed 1913 nickel was declared a counterfeit and stored in a closet for over 40 years. In 2003, experts re-examined it and confirmed it as authentic. The reappearance of the Walton specimen brought the full set of five coins back together for the first time in decades, a historic event in the numismatic world.
Ethical Questions and Legal Status
Given that the coins were never officially sanctioned by the U.S. Mint, some have questioned their legal status. Were they illegally produced? Should they have been confiscated? Yet, despite their mysterious origins, the government has never intervened. The coins have changed hands in legitimate auctions, with values soaring into the millions.
This unresolved legal and ethical question only adds to their intrigue. These coins sit in a unique space between the law and the legend, making them even more desirable to collectors.
Modern Value and Cultural Impact
The 1913 Liberty Head Nickel is more than just a collector’s item; it’s a symbol of American numismatic history. One specimen sold in 2018 for over $4.5 million. Beyond their monetary worth, these coins have appeared in books, television shows, and museum exhibits. Their fame reaches beyond the collector’s circle into popular culture.
Each coin tells a different story, yet together, they form a saga of mystery, ambition, and survival through time.
Conclusion: A Coin Shrouded in Legend
The 1913 Liberty Head Nickel remains one of the greatest stories in American coin collecting. Its value lies not just in its scarcity, but in the unanswered questions it raises. Who made it? Why? How did it survive?
More than a century later, we still don’t have all the answers and maybe that’s what makes it so special. In a world that often seeks certainty, this small, unauthorized piece of metal continues to defy explanation. For collectors and historians alike, that makes it priceless.