How much is a 1883 nickel worth

The obverse of this coin portrays Lady Liberty in profile, facing left, donning a coronet inscribed with the word "LIBERTY" and a wreath along the top of the coronet.  The reverse of the coin features a wreath of wheat, cotton, and corn (America's main exports at the time), and the Roman Numeral "V" for the number five.

The Mint first began striking the coins on January 30, 1883 and they went into circulation as early as February 1!

Originally, the coins did not have the word "cents" on them anywhere, this was deemed unnecessary as the three-cent piece had been circulating with a Roman numeral on it to indicate the denomination without any issues.

But fraudsters soon realized that the new five-cent piece look very much like the $5 gold coin, and if they just plated the five-cent piece, could pass it off as a real $5 gold coin.

The Mint quickly had Barber change the design to include "Cents" on the reverse of the coin, just below the "V" and the new coins were released in June of 1883.

The Liberty Nickel was was struck up until 1912 when it was replaced by the much loved Buffalo Nickel.

Well that's cool, Mary. You have what coin collectors call a Racketeer Nickel. Unscrupulous fellows back in 1883 found the newly issued Liberty V nickels in pocket change, gold plated them, and tried to pass them as $5 gold pieces. Not a bad mark-up, I'd say. Of course they were worth only a nickel.

Soon the US government wised up and placed the word CENTS on the coin, a small detail they had overlooked at first.

Anyone can make a racketeer nickel out of an 1883 'no cents' nickel by gold plating it. If you can find one actually from 1883, and can somehow prove it comes from that time, collectors might be willing to pay a large premium. Maybe $50 US dollars or so. The tough part is proving that you have a coin from a real racketeer, not a modern wanna-be! Presumably, a coin from a real racketeer would not have more than a year or two of wear on it before it was gold plated, but it could have lots of wear after it was gold plated. Gold plated coins not proven to come from a real racketeer sell for about $10 on eBay.

All nickels of this date must be examined closely, the Shield nickel as to condition, and the Liberty nickel because two distinct varieties exist.

Making this year unique are the many variations. There are Shield and Liberty nickels both dated 1883 and a design modification of the Liberty series within the year. Altogether three distinct nickel designs were minted and today these variations cover a wide range in value.

You have a valuable coin. After the variety is established next is to judge the condition of your coin. Grading images, shown below, help determine an accurate value from the chart.

Varieties of the 1883 Liberty Nickel

Important varieties of the 1883 Liberty nickel are pictured. The new Liberty nickel was first introduced without the word "Cents" on the reverse. Only the large "V" gave any indication of the denomination to the coin and this quickly caused confusion. Not to miss an opportunity, racketeers added to the dilemma by inferring the coin was a five dollar piece. News print of the times tried to clarify the situation and reported the coins appearing with a gold wash (applied by the racketeers) were indeed a nickel and not worth any more.

To stop the confusion, as to denomination of the new nickel, the word "Cents" was needed to appear on the coin. New dies were quickly prepared and the second reverse design was soon put into production. Solving the situation, the wording "Cents" continued as part of the reverse design throughout the rest of the Liberty nickel series. Today both reverses of the 1883 Liberty nickel are valued differently and both are needed to complete a collection.

1883 Nickel Value is Conditional

Video | Grading Shield Nickels

Your old nickel values often span a wide range depending on condition. The grading descriptions and images indicate major points of the coin design to observe as you evaluate the condition of your old nickel.

Uncirculated: An uncirculated coin shows no signs of wear. The first areas to evidence friction on the Shield Nickel are the Cross and frame of the Shield. With the Liberty Nickel check first the hair above the ear and forehead, wear is indicated by a dulling of the luster.

Extremely Fine: In the "extremely fine" grade both series show slight wear. However notice boldness in all design elements. Wear is confined to just the highest parts above the ear on Liberty and the finer details of the frame surrounding the Shield.

Fine: At this point a circulated coin has lost most of the finer detail of the design. Even wear covering the entire coin gives a flatness to the appearance. Although major designs are still separated such as leaves on the Shield nickel and some of the hair detail on Liberty.

Good: Most detail is missing on these coins, Liberty is in outline form as well as major details of the Shield nickel design. The rims have begun to merge with lettering on each example. Both coins are at the low end of 1883 nickel value.

CoinStudy Articles

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In Depth Shield Nickel Value

Shield Nickel Value

Complete listing of Shield nickel values and larger grading images combine to find an accurate value of all your Shield nickels.

More Old Nickel Values

Including more relating to your 1883 nickel value. Other nickel series are described, value charts provided and linked to… Liberty nickels, followed by Buffalo nickels and the current Jefferson Nickels.

★Coin Values Discovery... finds the 1883 nickel value and...

all old US coin values. It is an excellent index with images and text links to coin series, from Cents to Gold. Value charts, grading images and descriptions uncover how much your box of old coins is worth.

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