Nickel (United States Coin)

The U.S. nickel has gotten complicated with all the design changes, composition variations, and collector specializations flying around. As someone who has collected nickels for decades—from Shield types through modern Jeffersons—I learned everything there is to know about this five-cent denomination. Today, I will share it all with you.

Origins

Probably should have led with this section, honestly—the nickel emerged in 1866 because Civil War-era hoarding had removed silver coins from circulation. The copper-nickel alloy proved durable enough for commerce while being cheap enough to actually circulate.

The Liberty Head Era (1883-1912)

The Liberty Head or “V” nickel caused immediate problems. The original 1883 design lacked the word CENTS, leading criminals to gold-plate the coins and pass them as $5 gold pieces. The Mint added CENTS within months—making those “No CENTS” coins collectible today.

That’s what makes the 1913 Liberty Head endearing to us collectors—only five examples exist, none were authorized, and their origin remains mysterious. One sold for over $4 million.

Buffalo Nickel (1913-1938)

James Earle Fraser’s Buffalo nickel featured a composite Native American portrait and an actual buffalo named Black Diamond from the New York Zoo. The design wore quickly—many circulated examples have completely flat dates.

Jefferson Nickel (1938-Present)

Felix Schlag won a design contest to create the Jefferson nickel, which has been minted continuously since 1938. Key variations include:

• War Nickels (1942-1945): 35% silver, large mintmark over dome
• 1950-D: Lowest regular-issue mintage, key date for series
• Westward Journey (2004-2005): Commemorative designs
• 2006-present: Forward-facing Jefferson portrait

Composition and Production

Standard nickels contain 75% copper and 25% nickel, weigh 5 grams, and measure 21.21mm in diameter. The metal content actually costs more than face value to produce—the Mint loses money on every nickel struck.

Collecting Nickels

Collectors often specialize by type (one example of each major design) or date/mintmark sets (every year and mint combination). Full-step Jeffersons—coins showing complete steps on Monticello—command premiums even in common dates.