Assembling a Type Set of Nickels

TN117_120 6/16/03 8:00 PM Page 117

GETTING STARTED MITCH SANDERS Assembling a Type Set of Nickels

In anticipation of the new 5-cent coins, why not form a simple collection of their predecessors?

“V” on the reverse indicated the coin’s tion of designer Felix Schlag’s initials. denomination, but the word CENTS Thus, a basic nickel type collection was absent. The ambiguous denomi- includes representatives of each design nation and the coin’s similarity in size —Shield, Liberty, Buffalo and Jeffer- to the $5 gold piece meant that nick- son. An expanded set of nine coins ac- els could be gold-plated and pre- counts for changes within each series. UILDING A type sented as $5 coins. The problem of Shield nickels with and without rays set is a terrific way these so-called “Racketeer” nickels begin the set, followed by Liberty to explore numismatics. A type set was swiftly corrected with the addi- nickels with and without the word includes single representative exam- tion of the word CENTS for most of CENTS. There also are two Buffalo ples of many different coin designs, the 1883 mintage and continuing nickels, with raised and recessed FIVE organized around a unifying theme. through 1912. CENTS. Finally, three Jefferson nickels Comprehensive in scope but compact The Buffalo nickel debuted in 1913 complete the set: the original design, in size, type sets allow you to cover as part of an early 20th-century the wartime silver issue and the de- a lot of numismatic ground with movement toward more sign with initials. an economy of effort. To illustrate artistic coinage. A Native Whatever the scope of your collec- this method of collecting and American appears on tion, one major advantage of type col- to introduce an interesting Ameri- the obverse and a bison lecting is that each is represented can coin, here are some sugges- on the reverse. De- by only one coin. This allows you to tions for assembling a type set signer James choose coins that are affordable in the of nickels. Earle Fraser grades you are seeking. Uncirculated The nickel originated in the eco- described the specimens will be nicest, but also the nomic chaos following the Civil War. most expensive. For some types, well- Inflation and hoarding had caused preserved circulated coins, with some gold and silver coins, including the wear but a much lower price, may be silver half dime, to be replaced with a better value. It’s a good idea to con- paper currency. Small-denomination sult price and grading guides to find Shield, Liberty, notes were especially inconvenient, so the pieces best suited to your inter- Buffalo and Jef- a copper-nickel 5-cent piece was in- ests and budget. ferson nickels. troduced in 1866. The nickel actually However you proceed, collect- is composed of 75-percent copper and ing nickels by type is a great way only 25-percent nickel, but its nick- to get a compact set of interest- name is justified because from 1890 themes as “purely Ameri- ing and diverse coins. This is a

PHOTOS: ANA MUSEUM/JOHN NEBEL to 1964 no other American coin con- can.” The words FIVE CENTS particularly exciting time to collect tained nickel. on a raised mound were prone to nickels, because from 2003 to 2005 The Shield nickel, coined from 1866 quick wear, so they were recessed on new designs will commemorate the to 1883, features a shield on the ob- coins made from mid 1913 to 1938. 200th anniversary of the Louisiana verse with the numeral “5” sur- Since 1938, the nickel has honored Purchase and the Lewis and Clark Ex- rounded by stars on the reverse. Coins our third President, Thomas Jeffer- pedition—including a new portrait of made in 1866 and part of 1867 have son. His Virginia home, Monticello, Jefferson to recognize his role in these rays alongside the stars, but the rays appears on the reverse. From 1942 to events. With these new coins along- were removed to improve the striking 1945, the traditional alloy was re- side their predecessors, your type set of the hard nickel alloy. placed with a blend of copper, man- will showcase the changing designs An even more serious design prob- ganese and silver to conserve nickel and historical development of the lem plagued the first Liberty Head for the war effort. In 1966 the design nickel 5-cent piece. nickels in 1883. A Roman numeral was slightly modified with the addi- [email protected]