Indian Head n Buffalo Nickels 1913-1938

It was a tricky time for Charles Barber, chief engraver of the United States Mint. Although Theodore Roosevelt was no longer in staff, his entreat to have more classical designs on our coins, as expressed to Augustus Saint-Gaudens over feast in 1905, was very much bustling.

Barber's uninspired Liberty Headed nickel had been in production since 1883. Under the Coinage Act of 1890, a change in the, its construct was allowable after 25 time. Secretary of the Treasury Franklin MacVeagh, originally a Roosevelt appointee, wasn't about to outdo up the opportunity. Reminding by his son in May, 1911 that a new nickel would be "A permanent memento of the most attractive mixture," MacVeagh, pointedly bypassing the competent but middling Barber, happening the manage for a new invent.

The Buffalo nickel became an actuality minus than two existence later. On March 4, 1913, coins from the first bag to go into circulation were unfilled to outgoing President Taft and 33 Indian chiefs at the groundbreaking ceremonies for the National Memorial to the North American Indian at Fort Wadsworth, New York.

James Earle Fraser, a past junior to Saint-Gaudens and a plentiful dancer best known for his monumental "End of the Trail" Indian figurine, twisted a rightly sole object for the new coin. Up pending that time, excluding for Bela Lyon Pratt's matter and the eagle of 1908, the "Indians" portrayed on U.S. coins were primarily Caucasian with an Indian headress, epitomized by Saint Gauden's Greek Nike control on the 1907 Indian eagle. Fraser's proposal accurately portrays a gentleman Native American, and the face image was a composite of three chiefs who had posed for him living previous. Keeping with the distinctly American theme, he depicted an American bison on the reorder. The inscriptions UNITED STATES OF AMERICA and E PLURIBUS UNUM are sneakily placed over the threaten, with the denomination FIVE CENTS below. The legend LIBERTY and the meeting are likewise well executed on the coin's face.

Fraser's outline was medallic and striking, and for secretary favored that purpose MacVeagh. Its charisma seemed completely to dodge Barber, who complained that the intention basics were too large and didn't tolerate for the polite post of inscriptions. Barber didn't get very far with this, as the goal remained unchanged over his objections.

Reservations also came from the vending machinery interest, whose campaign were planned primarily for accepting cents and nickels. Particularly persistent was the Hobbs Manufacturing Company, which marketed an android for detecting counterfeit coins. Mr. Hobbs was certain that Fraser's draft would not work in his mechanism, and he asked that significant changes be made to the models. After much bickering over this, Secretary MacVeagh instructed the Mint to proceed with the inventive fabricate and let the vending engine companies adapt their mechanisms to the coin.

Over 1.2 billion Buffalo Nickels were minted from 1913 through 1938 at three mints; Philadelphia (no mintmark), San Francisco (S), and Denver (D). The mintmark can be found on the reversal under the denomination, while the designer's early "F" is below the year.

There were two varieties made. Type 1 nickels, minted only during the first few months of 1913, had the denomination FIVE CENTS on a raised stack. As early as April, brisk erosion in this area became evident on the coins in circulation, so Barber finally got his chance to transform Fraser's intend. He cut away the mountain, creating an exergue into which the denomination was set. This solved the change abrasion conundrum, but then he reserved leaving. He smoothed out much of the designate and granularity in both the Indian's portrait and the bison's withhold. The ensuing Type 2, however, lacked much of the artistic contact of the initial.

Barber again made small modifications in 1916, and some specialists think this a third subtype, but most enter collectors only consider the Type 1 and 2 coins as actual varieties. It is foreign that during all his modifications, Barber never addressed the snag of the meeting bearing down too hastily.

No Buffalo nickels were made in 1922, 1932 and 1933. Some 5,967 dull proofs were made from 1913 through 1916, and 10,189 brilliant proofs in 1936 and 1937. Strike was an inherent trouble with this coin from the start, and many deceptively well struck business strikes have been incorrect for the matte proofs and associate versa. Many mintmarked coins, especially from 1918 through 1934, are almost unavailable well struck.

When grading these coins of this print, you must take the external into account, as many plump shine pieces will not show rounded relief specify on the high points of the horn or the fringe on the tail. Generally, the date and LIBERTY will be faint on feebly struck pieces. The points on the coin that clothes most willingly are the high instant of the Indian's cheekbone and the fleece near the part. On the reverse, the bison's hip, the fringe on its tail and the horn are the first areas to show scuffing.

Collectors of this string have a fascinating array of "tough" dates and rarities to pursue. The most intricate coin to gain is the very atypical 1918/7-D overdate. Another overdate exists for both the Philadelphia and San Francisco Mints-the subtle 1914/3. Scarce to singular dates in high grade include all the San Francisco coins from 1913 through 1928, with 1918, 1920 and 1924 through 1927 being the rarest. Denver coins are generally weaker strikes than San Francisco pieces. The gift the aerial with challenges like the 1918 through 1920 issues and the 1925 and 1926 coins, along with the prominent 1937-D 3-legged Buffalo. This awfully current variety (caused by excessive die-polishing to eradicate clash-marks) was not discovered awaiting most of the coins had reached circulation, making well-struck gem specimens very uncommon today. Particularly in the holder of the "3-legger" or the overdates, authentication by experts is advised, as many counterfeits survive.

Recent time had witnessed renewed collector interest in the Buffalo series, no mistrust stimulated by the wealth of new inquiries untaken by nickel specialists. An ever-budding number of numismatists are assembling finish sets of Buffaloes by date and mintmark. Demand is also clear from kind collectors, all whom seek this goal for their 20th Century-or more comprehensive-lettering sets. Although well struck, inexpensive nature examples such as 1938-D are available, many collectors wish to pursue one of the scarcer dates.

By the end of 1937 planning for the Buffalo nickel's successor was well under way, as the figure's mandatory 25 years would end the following year. It was to be replaced by the third coin to stand a likeness of one of our presidents, Thomas Jefferson. The Jefferson nickel continues in production to this day.

SPECIFICATIONS:

Diameter: 21.2 millimeters Weight: 5 grams Composition: .750 copper.250 nickel Edge: Plain

BIBLIOGRAPHY: Breen, Walter, Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins, F.C.I.Press/Doubleday, New York, 1988. Cohen, Annette R. and Druley, Ray M. The Buffalo Nickel, Potomac Enterprises, Arlington, VA, 1979. Lange, David W. The Complete Guide to Buffalo Nickels, DLRC Press, Virginia Beach, VA, 1992. Vermeule, Cornelius, Numismatic Art in America, The Belknap Press of Harvard University Press, Cambridge, MA, 1971. Wescott, Michael, with Keck, Kendall, The United States Nickel Five-Cent Piece, Bowers and Merena Galleries, Wolfeboro, NH, 1991.

Coin Information Provided Courtesy NGC.

Jefferson Nickels 1938 to present

Still in production nowadays, the Jefferson Nickel has become a relaxed coin to generations of Americans. Introducing in 1938, it is the only one of our nearby coins being made in its previous composition, however this continuity was interrupted sketchily by the crisis of World War II. After more than six decades of minting, this humble coin continues to principle the realm's third leader.

Thomas Jefferson was a man of countless talents, and he possessed an unceasingly snooping life. His achievements in architecture (his own home, Monticello, being but one example), pooled with his triumphs as a statesman, scientist and philosopher, have earned for Jefferson a lasting bequest as one of the greatly great records in American memoirs. It was seemingly inevitable that once George Washington had been grateful with a circulating coin in 1932, Jefferson could not be far behind in achieving such recognition.

Thomas Jefferson was natural in Virginia, in what was then Goochland (now Albemarle) County. Raising in a prosperous home, he took occupied advantage of the educational opportunities this untaken him. Though he was proud to explain himself as just a gentleman planter, he began a long and illustrious career of community sacrament in 1769 by joining the Virginia House of Burgesses. The arrival of the American War of Independence six time later found him an organ of the Second Continental Congress. In this volume he became the principal dramatist of the Declaration of Independence. Returning to Virginia to operate as its governor during the dying time of the war, he later rejoined the Continental Congress for the designate 1783-84.

Among the most urgent issues of the day was settlement of the land's war debt and the establishment of fiscal logic. Jefferson devised decimal currency logic, the principal points of which were ultimately adopted some days later. Jefferson then became America's minister to France in 1785, frequent home winning the choice of George Washington as the first head of the national republic. Jefferson's idiom as secretary of royal found him regularly at odds with the dominant Federalist gang, and this only intensified during his vice presidency under President John Adams (1797-1801).

A Republican, Jefferson succeeded Adams, serving two terms head of the USA (1801-09). Highlights of his presidency included the Louisiana Purchase of 1803 and America's battles against the Barbary pirates. Retirement for Jefferson was anything but subdued, and among his achievements were the founding of the University of Virgina and the fabricate of its buildings. He maintained a lively and stimulating correspondence with numbers around the world, awaiting fall claimed him at his beloved home of Monticello in 1826. In a remarkable coincidence, his temporary chop on July 4, fifty days to the day after the signing of the Declaration of Independence. In an even better twist, old rival John Adams also succumbled on that very same day.

Early in 1938, the Treasury Department announced an open competition for designs to return those of the tide five-cent case. No persuade was given for retiring James Earle Fraser's Indian Head/Buffalo Nickel, but that object had achieved its lawful least production of 25 existence, and therefore no legal barrier stood in the way of replacing it. The new coin would prize Thomas Jefferson, and the competition system specified that its facade was to star "an authentic likeness" of the third president. The system auxiliary essential that the transpose of the coin represent "a representation of Monticello, Jefferson's historic home near Charlottesville."

The contest was open to someone who could provide models that would work within the Mint's practical requirements, and these specifications were provided in the broadcast announcement. Of some 390 models submitted, those of German-American sculptor Felix Schlag were elected, and he was awarded the $1000 prize in April of 1938.

Felix Schlag's portrait of Jefferson was based on a limestone bust sketched from life by famed French sculptor Jean-Antoine Houdon. Schlag's dramatic perspective spectacle of Monticello was discarded by the Federal Commission of Fine Arts, which acted in an advisory gift on all matters of open art. Besides recommending a more conventional, altitude scene of Jefferson's home, the commission suggested that Schlag's stylized, Art Deco print be replaced with a more traditional Roman draft. Schlag complied with its requests, submitting revised models for reassess in July of 1938. After a few more changes were made to the print, principally enlargement of the worth FIVE CENTS, the models were official. With all these delays, production of the new coins did not begin awaiting September, and the first examples were free to circulation two months later.

The Jefferson Nickel skinned a left-facing bust of the president, dressed in a coat of the interlude and draining a peruke wig. Arranging in arcs around the border are the motto IN GOD WE TRUST to the left, with LIBERTY and the year to the right, separated by a sole star. On the reversal is a front elevation notice of Jefferson's home, with the name MONTICELLO beneath it. Around the border are the folklore E PLURIBUS UNUM above and UNITED STATES OF AMERICA below. Beneath MONTICELLO is the assess FIVE CENTS. Beginning in 1966, Schlag's initials FS happen below the truncation of Jefferson's bust.

The mints at Philadelphia (no mintmark pending 1980), Denver (mintmark 'D') and San Francisco ('S') the coined Jefferson Nickels from 1938 onward. Mintmarks appeared to the right of Monticello through 1964, when their use was hovering due to a nationwide coin famine. Mintmarks were restored opening in 1968, however since that year they have been located beneath the time, to the right of Jefferson's peruke. San Francisco poised coining operations after 1954, but Jeffersons posture the trendy 'S' mintmark were again made for circulation in 1968, 1969 and 1970. Beginning in 1971 and continuing to the present day, San Francisco has struck only proof examples for collectors.

Mintages from all three mints have speckled over the course of the string, with some of these records being small by modern values. The dates considered "key" coins due to their low mintages compose 1938-D, 1938-S, 1939-D, 1939-S and 1950-D. None are correctly bloody, however, as the Jefferson Nickel chain coincides with the era in which Americans preserved rolls and even intact bags of uncirculated coins of every court. Instead of date rarity, the focus in collecting Jeffersons is on superb condition. Until the overdue 1980s, when lowering of this coin's relief resulted in consistently pointed strikes, most Jefferson Nickels were seldom found with all minutiae discreet. Specifically, the steps of Monticello are typically incomplete, and coins having "bursting steps" catch intense aerial relevance.

The novelty of the Jefferson Nickel caused most examples to be saved by a bizarre civic during its first few years, and coins of this category did not become an usual display in circulation awaiting about 1940. Shortly thereafter, the beginning of World War II prompted the rationing of many commodities, certain metals among them. Nickel was decidedly valued for use in armor plating, and Congress prepared the deduction of this metal from the five-cent slice, efficient October 8, 1942. From that date, and lasting through the end of 1945, five-cent pieces tire the expected invent but were minted from an alloy of copper, silver and manganese. It was expected that these emergency coins would be withdrawn from circulation after the war, so a prominent distinguishing facet was added. Coins from all three mints weary very large mintmarks above the field of Monticello, and the letter 'P' was worn as a mintmark for the first time on a U. S. Coin. These "war nickels" proved rather satisfactory in circulation, and they were not immediately withdrawn. Instead, they remained a customary view until the mid-1960s, when rising silver prices caused them to be hoarded for their gold merit.

While a generous coin in its own right, the Jefferson Nickel serves an additional intent in honoring a strictly great American. In this character, it is expected to continue for many years to come. For collectors, completion of the Jefferson cycle skeleton an inexpensive and attainable goal.

SPECIFICATIONS:

Diameter: 21.2 millimeters Weight: 5 grams Composition: .750 copper.250 nickel (1938-42, 1946-) .560 copper.350 silver.090 manganese (1942-45) Edge: Plain

BIBLIOGRAPHY: Breen, Walter, Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins, F.C.I. Press/Doubleday, New York, 1988. Taxay, Don, The U.S. Mint and Coinage, Arco Publishing Co., New York, 1966. Wescott, Michael, with Keck, Kendall, The United States Nickel Five-Cent Piece, Bowers and Merena Galleries, Wolfeboro, NH, 1991. Yeoman, R.S., A Guide Book of United States Coins, 52nd Edition. Golden Books Publishing Company, New York, 1998.

Coin Information Provided Courtesy NGC.

Do I have to Buy the Best Quality Coins if I Want to Make Money?

Buy feature! Buy property! Buy quality! That's all you hears the existence when you are considering juicy coins as an investment. First, are you justly wholesale coins as an investment, or simply for the pleasure of owning a portion of chronicle? That is sometimes the confirmed dilemma for many collectors, or is it investors? Everybody wishes to make constant that their investment is confined, but there are no guarantees, especially in uncommon coins. In verity, some sporadic coins take being to appreciate to the meaning of being able to wholesale it profitably.

Hey, I would like to be able to plop down $100,000 for a 1919-s Standing Liberty Quarter in MS67 provision practiced by PCGS. There is only one coin with this meeting skilled by PCGS as of February 7th so it is the finest available. Nevertheless not many of us have that luxury. I don't, and I irregular you do not moreover. It's hard to comprehend paying more for a sole coin than my first house loss. And while the rarest and finest of all scarce coins have reached stratospheric prices, what does this place the breather of us? Not much, except you are willing to do a little work.

So if my advantage is in erratic coins as an investment, what do I do? Well, there are many other coins and options you can choose. First, let's reassess what drives the penalty of a coin.

1. Demand. Demand perhaps is the prevalent driver of outlay. A fair example of this is the 1909 S VDB with a mintage of 484,000 and an estimated retail cost of $720.00 in G4 and $7,500 in MS65 vs. an 1879 Shield Nickel. The Shield Nickel had a mintage of only 29,100 yet the estimated retail speed of a G4 is only $415 while the MS65 example is $1,950. To promote illustrate this show, PCGS has certified 703 MS65 Red 1909 S VDB cents and only 27 MS65 Shield Nickels. How many Shield Nickel collectors do you know vs. Lincoln Cent collectors?
2. Scarcity. Generally tongue, putting mandate whisper, the more scare/unusual a coin, the advanced its cost. This is mostly very true, especially when comparing dates within the same cycle. Scarcity should not be puzzled with total mintage. During the silver booms, many, many silver coins were melted for their gold satisfied. Additionally, some coins with superior mintages can be utterly uncommon in certain grades such as advanced MS proviso coins due to weak strikes, etc.
3. Condition. This is the most palpable one. When comparing the same coin, the better the grade, the senior its estimate.
4. Age. Although age can have some dynamic, I would toll it sink than the three above

Ok then, considering all these factors, how do I find fussy coins that I can provide that will not only appreciate in cost, but appreciate at an upper rate than other coins? I think the key word here is “polite”. Coins other than Mint State coins can appreciate in survey if you know what to look for. Look at the 4 powerful factors of cost again. They query and dearth. Take a good look at the following chart. The chart shows a good comparison of some different coins. Some you might judge a good investment and some, you may not. The major comparison I am difficult to make is from 2005 to 2006. I had an old announce of Coins Magazine from November 1973 so I thought I would bowl those morals in as well.

First, let's look at the 1877 Indian Head Cent, the key of the chain. In a one year epoch of time, the value of the coin rose 18-19% depending on prepare. The 1909 S, the coin with the buck mintage of the totality series rose only 2-3%. Take a look at the mintages. The 1877 had over 2.5 period the coins produced than the 1909 S yet is valued much superior. Part of this pressure and there are perhaps minus 1877 square cents to go around.

Next, take a close look at the 3 Lincoln Cents in G4. While the 1909 S and 1931 S are considered keys just as the 1909 S VDB is, it is the 1909 S VDB that has risen in estimate while the 1909 S did not dislodge and the 1931 S enthused ever so somewhat. It is interesting to tinge still that in XF rider the 1909 S VDB stayed the same.

Compare the mintages of the 5 above coins to the 1879 Shield Nickel. A measly 29,100 nickels were produced that year yet the assess for a G4 is a squalid $415

So, what does this all verify? To me, it proves that option coins solely for investment is as tricky as playing the horde souk. You just never know what may be the hot entry. Certainly, key issues will prolong to elevation and will probably knoll at an advanced rate than non-key issues. If you are truly set on selling rare coins as an investment and you cannot present the high-end matter then keys in some of the lessen grades may be the way to go.

What will be the next “hot” coin? Only time will tell and your speculate is as good as mine. I distrust that with more and more hobby in Lincolns, especially with the impending changes to the Lincoln Cent , there will be more claim for Lincoln Keys, but that is only a suppose. Others to keep an eye on are the 1932 D and S quarters. The State Quarter code has bent more gain in quarters. This is just natural speculation. As for me, I will just prolong to buy the coins I like.

As forever, exultant collecting!