What is the value of an 1883 liberty nickel?

Answer 1

Two varieties of Liberty Nickel were made in 1883. Numismedia lists the following approximate retail values as of 02/2011:

Without the word "cents" below the V on the back:

Very worn condition - $8

Moderately worn - $10

Slightly worn - $11

Almost no wear - $17

Uncirculated - $29 to $2,020 depending on quality

With the word "cents" on the back:

Very worn - $15

Moderately worn - $36

Slightly worn - $53

Almost no wear - $110

Uncirculated - $160 to $1,250

To explain the difference, when the new design was introduced the people at the Mint thought that the large Roman numeral V on the back and the coin's color and size would make it clearly identifiable as a nickel. They didn't count on crooks gold-plating the coins and passing them off as "new design $5 gold pieces", so the design was modified to add the word CENTS later that year.

The gold-plated nickels became known as "racketeer nickels". Original specimens are themselves quite valuable today, and are one of the few cases where a faked coin is actually more collectible than its original.

DISCLAIMER: The retail values quoted are the best available as of the date shown, but may vary significantly due to changes in the precious metals market. Also the wholesale (buying) price of a coin will be less than the selling (retail) price. A reputable coin dealer will be able to give a more accurate valuation based on inspection of the coin.