The 1913 Liberty Head Nickel is one of the most legendary and coveted coins in American numismatics. With only five known examples, this rare coin has captivated collectors for decades, thanks to its mysterious origins and high value.
In this article, we explore the fascinating history behind the 1913 Liberty Head Nickel, why it’s valued at $1.7 million, and how it became a treasure of the coin-collecting world.
The Origins of the 1913 Liberty Head Nickel
The 1913 Liberty Head Nickel is notable not only for its rarity but also for the unusual circumstances surrounding its minting. Production of Liberty Head Nickels officially ended in 1912, when the U.S. Mint switched to the Indian Head (Buffalo) design. However, five Liberty Head Nickels were somehow minted in 1913 without any official orders, making them an anomaly in U.S. coinage.
It is believed that these coins were created secretly by someone within the Philadelphia Mint, adding an air of mystery to their already rare status. The coins didn’t surface until the early 1920s when coin dealer Samuel W. Brown revealed them as part of his collection. Since then, the 1913 Liberty Head Nickel has become one of the most sought-after and valuable coins in U.S. history.
Why Is the 1913 Liberty Head Nickel So Valuable?
Several factors contribute to the immense value of the 1913 Liberty Head Nickel:
- Rarity: With only five known specimens, the rarity of this coin is unmatched.
- Historical Significance: The mystery behind its creation and the secrecy surrounding its minting give the coin unique historical importance.
- Condition: The five known coins are in remarkably good condition for their age, which further increases their value.
- Collector Demand: Due to its rarity and intrigue, collectors worldwide are willing to pay millions to own one of these coins.
The Five Known Specimens
Each of the five known 1913 Liberty Head Nickels is distinguished by its ownership history or specific characteristics. Here’s a closer look at each one:
1. Eliasberg Specimen
The Eliasberg Specimen is widely regarded as the best-preserved of the five coins. It has been graded as Proof 66 by the Professional Coin Grading Service (PCGS) and was part of the renowned Eliasberg Collection, the only complete collection of U.S. coins ever assembled.
- Last Known Sale Price: $5 million (2007)
- Condition: Proof 66
- Ownership History: Eliasberg, private collectors
2. Norweb Specimen
Named after its inclusion in the Norweb Family Collection, this specimen is also in excellent condition. It changed hands several times, eventually being sold to an anonymous buyer.
- Last Known Sale Price: $3.3 million (2001)
- Condition: Proof 64
- Ownership History: Norweb Family, private collectors
3. Walton Specimen
The Walton Specimen gained fame after being lost for decades following the death of its owner, George Walton, in a car accident in 1962. The coin resurfaced in 2003 when Walton’s heirs discovered it.
- Last Known Sale Price: Estimated at $3.1 million
- Condition: Proof 63
- Ownership History: Walton Family, private collectors
4. Hawaii Five-O Specimen
This specimen gained pop culture fame after being featured in a 1970s episode of the television show “Hawaii Five-O,” titled “The $100,000 Nickel.” Its appearance on TV added to its allure.
- Last Known Sale Price: $3.7 million (2007)
- Condition: Proof 65
- Ownership History: Private collectors, featured in “Hawaii Five-O”
5. McDermott Specimen
The McDermott Specimen is unique as it is the only circulated 1913 Liberty Head Nickel, which affects its condition but not its status as a valuable coin. Collector J.V. McDermott frequently carried the coin around, allowing it to wear over time.
- Last Known Sale Price: $1.7 million
- Condition: Proof 58 (lower due to circulation)
- Ownership History: McDermott Family, ANA Museum
Overview of the Five 1913 Liberty Head Nickels
| Specimen Name | Condition | Last Known Sale Price | Ownership History | Notable Feature |
|---|---|---|---|---|
| Eliasberg Specimen | Proof 66 | $5 million (2007) | Eliasberg, private collectors | Best condition of all specimens |
| Norweb Specimen | Proof 64 | $3.3 million (2001) | Norweb Family, private collectors | Part of the prestigious Norweb Collection |
| Walton Specimen | Proof 63 | Estimated $3.1 million | Walton Family, private collectors | Rediscovered after being lost for decades |
| Hawaii Five-O Specimen | Proof 65 | $3.7 million (2007) | Private collectors, TV fame | Appeared on “Hawaii Five-O” |
| McDermott Specimen | Proof 58 (circulated) | $1.7 million | McDermott Family, ANA Museum | Only circulated 1913 Liberty Head Nickel |
The $1.7 Million McDermott Specimen
Despite being in the lowest condition of the five known coins, the McDermott Specimen still sold for an impressive $1.7 million. Its unique history and circulated status make it a fascinating piece of American numismatic history.
The McDermott Specimen is currently housed in the American Numismatic Association (ANA) Museum, where it continues to draw the attention of collectors and visitors alike.
The Rediscovery of the Walton Specimen
Perhaps the most remarkable story surrounding the 1913 Liberty Head Nickel is the rediscovery of the Walton Specimen. For over 40 years, this coin was thought to be lost following George Walton’s death in 1962.
In 2003, it was found among Walton’s belongings by his heirs and was subsequently authenticated, ending decades of speculation about its whereabouts.
Whether you’re a seasoned collector or new to the hobby, the 1913 Liberty Head Nickel remains a legendary piece of American coinage, with a value that reflects its one-of-a-kind status.
