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In
1883, the Liberty Nickel was issued for the first time. Perhaps as an
oversight or error in judgment, the word CENTS was omitted. The only
face value indicator was the Roman numeral "V" on the reverse.
Racketeers seized on this opportunity to gold plate the V 5 cent nickel
as pass them off as $5 gold. Soon thereafter, the word CENTS was added
to the design.
Large numbers of the 1883 Liberty Nickel were set aside because people
thought they would someday be valuable, which explains the humble price
of the 1883 today. No one was paying any attention in 1885 when only
1.4 million nickels were struck, and of this small mintage, few were
saved. The 1885 Liberty Nickel is rare in all grades, most notably in
Uncirculated condition.
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