The Five Cent Nickel: From Shield to Jefferson

Nickels, made of a copper-nickel alloy, have been minted since 1866, starting with the Shield Nickel. This was followed by the Liberty Head (V) Nickel (1883-1912), the Buffalo Nickel (1913-1938), and the current Jefferson Nickel (1938-present). The Buffalo Nickel is particularly beloved for its iconic Native American and bison designs. Nickels have undergone various design changes reflecting American culture and history, and they remain a staple of U.S. coinage.

Shield Nickel (1866-1883)

Historical Context

The Shield Nickel was America's first five cent piece made of copper-nickel alloy. It replaced the silver half dime during the Civil War era when silver was scarce and hoarded. The denomination proved so successful it has continued to the present day.

Design Evolution

• 1866-1867 With Rays: Shield with rays between stars on reverse
• 1867-1883 Without Rays: Rays removed due to striking problems
• Obverse: Federal shield with cross and stars
• Reverse: Large "5" surrounded by stars and wreath

Key Dates

• 1866 With Rays: First year, scarce
• 1877 and 1878: Proof only years
• 1879-1881: Very low mintages

Liberty Head/V Nickel (1883-1912)

Design Features

Designed by Charles Barber, this elegant coin features Liberty's head in coronet on the obverse and a large "V" (Roman numeral 5) surrounded by wreath on reverse.

The "Racketeer" or "No CENTS" Variety

The first 1883 nickels lacked the word "CENTS" on the reverse, showing only "V." Fraudsters gold-plated these and passed them as $5 gold pieces. The mint quickly added "CENTS" below the "V," creating two distinct 1883 varieties.

Key Dates

• 1885: Lowest mintage of the series
• 1886: Another low mintage date
• 1912-S: First and only San Francisco Liberty nickel
• 1913: Five known specimens struck illegally - world's most famous rare coin

Buffalo/Indian Head Nickel (1913-1938)

Design Innovation

Designed by James Earle Fraser, the Buffalo Nickel is considered one of America's most beautiful coins. The obverse features a composite Native American portrait, while the reverse shows an American bison (often called a buffalo).

Type Varieties

• Type I (1913): Bison on mound, "FIVE CENTS" on raised ground
• Type II (1913-1938): Bison on line, "FIVE CENTS" in recessed area (more resistant to wear)

Key Dates and Varieties

• 1913-S Type II: Scarce first-year variety
• 1914/3: Overdate variety
• 1916 Doubled Die Obverse: Spectacular doubling
• 1918/7-D: Famous overdate
• 1921-S: Low mintage
• 1926-S: Key date of the series
• 1935 Doubled Die Reverse: Strong doubling on "FIVE CENTS"
• 1937-D Three-Legged: Die error created famous variety

Grading Challenges

The high points of the design - the date and "FIVE CENTS" - wore quickly in circulation. Full horn and full tail details are key grade indicators. Finding examples with complete dates is essential.

Jefferson Nickel (1938-Present)

Original Design

Designed by Felix Schlag, the Jefferson Nickel features President Thomas Jefferson on the obverse and his home, Monticello, on the reverse. The design won a public competition.

Wartime Silver Composition (1942-1945)

During World War II, nickel was needed for war production. From mid-1942 through 1945, these coins were made of 56% copper, 35% silver, and 9% manganese. They're identified by a large mint mark above Monticello on the reverse (P, D, or S).

Modern Design Changes

• 2004-2005 Westward Journey Series: Special designs commemorating Lewis & Clark expedition
• 2006-Present: Return to Monticello, but with updated forward-facing Jefferson portrait

Key Dates

• 1939-D: Low mintage early date
• 1942-D Over Horizontal D: Rare variety
• 1950-D: Key date of the series
• 1955-D/S: Overmintmark variety

Specifications

• Diameter: 21.2mm (all types)
• Weight: 5.0 grams (except war nickels: 5.0 grams but different density)
• Composition (Regular): 75% copper, 25% nickel
• Composition (War Nickels): 56% copper, 35% silver, 9% manganese
• Edge: Plain

Collecting Strategies

Type Set

Collecting one of each major type (Shield, Liberty, Buffalo, Jefferson) is popular and achievable. Include both 1883 Liberty varieties and both Buffalo types for a complete type set.

Buffalo Nickel Focus

Many collectors focus solely on Buffalo Nickels due to their beauty and manageable 25-year span. Full date coins are essential, and pursuing Full Horn/Full Steps specimens adds challenge.

Jefferson Varieties

Modern Jefferson collectors often pursue "Full Steps" (FS) designation, where all five or six steps of Monticello show complete detail. These command significant premiums.