Nickel (United States coin)

http://www.all-keyboard.com/,http://www.laptopfan-shop.com/,http://www.laptop-fan-shop.com/ The nickel, in American usage, is a five-cent coin issued by the United States Mint. Composed of 75% copper and 25% nickel, the piece has been struck since 1866. The silver half dime, also equal to five cents, had been issued since the 1790s. Sony VAIO PCG-3B1M Battery The economic upset of the American Civil War drove gold and silver from circulation, and the government at first issued paper currency in place of low-value coins. In 1865, Congress abolished the five-cent fractional currency note after Spencer M. Clark, head of the Currency Bureau (today the Bureau of Engraving and Printing), placed himself on the denomination. Sony VAIO PCG-3C1T Battery As two-cent and three-cent pieces without precious metal content had been successfully introduced, Congress also authorized a five-cent piece of base metal; the Mint began striking this in 1866. The Shield nickel, the initial design, was struck until 1883, when it was replaced by the Liberty Head nickel. Sony VAIO PCG-3D1M Battery As part of a drive to increase the beauty of American coinage, the Buffalo nickel was introduced in 1913; it was followed by theJefferson nickel in 1938. In 2004 and 2005, special designs in honor of the bicentennial of the Lewis and Clark Expedition were issued. Sony VAIO PCG-3G2M Battery The Mint in 2006 reverted to using Jefferson nickel designer Felix Schlag's original reverse (or "tails" side), although substituting a new obverse by Jamie Franki. As of 2013, it costs more than eleven cents to produce a nickel; the Mint is exploring the possibility of bringing down the cost by using less expensive metals. Sony VAIO PCG-5R1M Battery The silver half disme (as the half dime, pronounced the same, was first called) was one of the denominations prescribed by the Mint Act of 1792, its weight and fineness set by law.^[1] The first pieces under federal authority were half dismes, struck in 1792 in the cellar of John Harper, Sony VAIO PCG-7141M Battery saw maker, at Sixth and Cherry Streets in Philadelphia as the first federal mint was still under construction in that city. The dies were engraved by Adam Eckfeldt; he recalled a half-century later that the silver for the half dismes had been supplied by President George Washington, and that the 1,500 coins struck from the bullion were given to Washington's Secretary of State, Sony VAIO PCG-7143M Battery Thomas Jefferson, for distribution to important people both in the US and overseas.^[2][3] By legend, President Washington supplied silverware from his home,Mount Vernon, to provide bullion for the coins.^[4] In his annual message to Congress in late 1792, Washington noted the ongoing construction of a mint building and stated, Sony VAIO PCG-7151M Battery "There has also been a small beginning in the coinage of half dismes, the want of small coins in circulation calling the first attention to them."^[5] In 1793, the newly established United States Mint began striking cents and half cents.^[6] Sony VAIO PCG-7154M Battery Coinage of precious metal pieces was delayed; Congress had required that the assayer and chief coiner each post a security bond of $10,000, a huge sum in 1793. In 1794, Congress lowered the chief coiner's bond to $5,000 and the assayer's to $1,000, and President Washington's appointees to those positions were able to qualify and take office. Silver coinage began that year.^[7] Sony VAIO PCG-7162M Battery The half dime was struck to various designs by Mint Engraver Robert Scot from 1794 until 1805, though none were dated 1798, 1799, or 1804.^[8] By 1804, silver US coins were being heavily exported, as they could be exchanged at par in the West Indies with heavier Spanish coins, which were then imported as bullion and deposited at the Mint for melting and restriking. Sony VAIO PCG-7181M Battery In response, the US stopped striking silver dollars in 1804 and the half dime was not issued from 1805 until 1829. Mint Director Robert Patterson explained, in 1807, in a letter to Jefferson (by then president) that "nearly the whole of our Silver Bullion (chiefly Spanish dollars) come through the Banks, and it is very seldom that they will consent to take any coin less than half dollars."^[9] Sony VAIO PCG-41112M Battery The silver five-cent piece was struck again beginning in 1829; its fineness was increased from .8924 to .900 beginning in 1837. Also in 1837, the half dime's obverse design changed from one by William Kneass depicting a bust of Liberty to one featuring a seated Liberty by Christian Gobrecht; Sony VAIO PCG-7153M Battery the half dime would bear modifications of this design until its abolition in 1873. In 1851, it ceased to be the smallest US silver coin as a three cent piece was issued by the Mint. The half dime, or half disme, was a silver coin, valued at five cents, formerly minted in the United States. Sony VAIO PCG-71312M Battery Some numismatists consider the denomination to be the first coin minted by the United States Mint under the Coinage Act of 1792, with production beginning on or about July 1792. However, others consider the 1792 half disme to be nothing more than a pattern coin, or 'test piece', and this matter continues to be subject to debate. ^[1] [2] Sony VAIO PCG-7144M Battery These coins were much smaller than dimes in diameter and thickness, appearing to be "half dimes". In the 1860s, powerful nickel interests successfully lobbied for the creation of new coins, which would be made of a copper-nickel alloy; production of such coins began in 1865, and were struck in two denominations —three and five cents (the latter introduced in 1866). Sony VAIO PCG-7191L Battery The introduction of the copper-nickel five-cent pieces made the silver coins of the same denomination redundant, and they were discontinued in 1873. The following types of half dimes were produced by the United States Mint or under the authority of the Coinage Act of 1792: Sony VAIO PCG-3C1M Battery The flowing hair half dime was designed by Robert Scot and this same design was also used for half dollar and dollar silver coins minted during the same period. The obverse bears a Liberty portrait similar to that appearing on the 1794 half cent and cent but without the liberty cap and pole. Sony VAIO PCG-3F1M Battery Mintage of the 1794 version was 7,765 while 78,660 of the 1795 version were produced. The obverse of the draped bust half dime was based on a sketch by artist Gilbert Stuart, with the dies engraved by Robert Scot and John Eckstein. The primary 1796 variety bears fifteen stars representing the then number of states in the union. Sony VAIO PCG-3H1M Battery In 1797, fifteen and sixteen star varieties were produced - the sixteenth star representing newly admitted Tennessee - as well as a thirteen star variety after the mint realized that it could not continue to add more stars as additional states joined the union. The reverse bears an open wreath surrounding a small eagle perched on a cloud. Sony VAIO PCG-3J1M Battery 54,757 half dimes of this design were minted. Following a two year hiatus, mintage of half dimes resumed in 1800. The obverse remained essentially the same as the prior version, but the reverse was revised substantially. The eagle on the reverse now had outstretched wings, heraldic style. Sony VAIO PCG-8141M Battery This reverse design first appeared on gold quarter and half eagles and then dimes and dollars in the 1790s. Mintage of the series never surpassed 40,000, with none produced in 1804. No denomination or mintmark appears on the coins; all were minted in Philadelphia. Production of half dimes resumed in 1829 based on a new design by Chief Engraver William Kneass, Sony VAIO PCG-8161M Battery who is believed to have adapted an earlier John Reich design. All coins were minted at Philadelphia and display no mintmark. The high circulating mintage in the series was in 1835, when 2,760,000 were struck, and the low of 871,000 was in 1837. Both Capped Bust and Liberty Seated half dimes were minted in 1837. Sony VAIO PCG-3C2M Battery These were the last silver half dimes produced. The design features Liberty seated on a rock and holding a shield and was first conceived in 1835 used first on the silver dollar patterns of 1836. The series is divided into several subtypes. The first was struck at Philadelphia in 1837 and New Orleans in 1838 and lacks stars on the obverse. Sony VAIO PCG-5N2M Battery In 1838 a semicircle of 13 stars was added around the obverse border, and this basic design was used through 1859. In 1853, small arrows were added to each side of the date to reflect a reduction in weight due to rising silver prices, and the arrows remained in place through 1855. The arrows were dropped in 1856, with the earlier design resumed through 1859. Sony VAIO PCG-5P1M Battery In 1860, the obverse stars were replaced with the inscription UNITED STATES OF AMERICA and the reverse wreath was enlarged. This design stayed in place through the end of the series. In 1978 a unique 1870-S Seated Liberty half dime became known. The Seated Liberty half dime was produced at the Philadelphia, Sony VAIO PCG-5S1M Battery San Francisco and New Orleans mints in an aggregate amount of 84,828,478 coins struck for circulation. In 1978 a coin collector surprised the coin collecting community with an 1870-S (San Francisco) half dime, believed to have been found in a dealer's box of cheap coins at a coin show. Sony VAIO PCG-9Z1M Battery According to mint records for 1870, no half dimes had been minted in San Francisco; yet it was a genuine 1870-S half dime. At an auction later that same year, the 1870-S half dime sold for $425,000. It is believed that another example may exist—along with other denominations minted that year in San Francisco—in the cornerstone of the old San Francisco Mint. Sony VAIO PCG-7171M Battery Later in July, 2004, one sold for $661,250 in MS-63 in a Stack`s-Bowers auction. Canada also once used silver coins of five-cent denomination; they were colloquially referred to as "fish scales" because they were very thin (the term "half dime" never having been used in Canada), and were produced until Canada also switched to nickel five-cent pieces in 1922. Sony VAIO PCG-7186M Battery The Civil War caused most American coins to vanish from circulation, with the gap filled by such means as merchant tokens, encased postage stamps, and United States fractional currency, issued in denominations as low as three cents. Although specie (gold or silver coins) was hoarded or exported, Sony VAIO PCG-81112M Battery the copper-nickel cent, then the only base metal denomination being struck, also vanished.^[12] In 1864, Congress began the process of restoring coins to circulation by abolishing the three-cent note and authorizing bronze cents and two-cent pieces, with low intrinsic values, to be struck.^[13] Sony VAIO PCG-31311M Battery These new coins initially proved popular, though the two-cent piece soon faded from circulation. On March 3, 1865, Congress passed legislation authorizing the Mint to strike three-cent pieces of 75% copper and 25% nickel. In 1864, Congress authorized a third series of fractional currency notes. Sony VAIO PCG-8152M Battery The five-cent note was to bear a depiction of "Clark", but Congress was appalled when the issue came out not with a portrait of William Clark, the explorer, but Spencer M. Clark, head of the Currency Bureau. According to numismatic historian Walter Breen, Congress's "immediate infuriated response was to pass a law retiring the five-cent denomination, Sony VAIO PCG-31111M Battery and another to forbid portrayal of any living person on federal coins or currency."^[14] Clark kept his job only because of the personal intervention of Treasury Secretary Salmon P. Chase.^[14] Mint Director James Pollock had been opposed to striking coins containing nickel, but in view of the initial success of the copper-nickel three-cent piece, Sony VAIO PCG-61111M Battery he became an advocate of striking five-cent pieces in the same metals. In his 1865 report, Pollock wrote, "From this nickel alloy, a coin for the denomination of five cents, and which would be a popular substitute for the five cent note, could easily be made ... [The five-cent coin should be struck in base metal] only until theresumption of specie paymentsSony VAIO PCG-51112M Battery ... in time of peace ... coins of inferior alloy should not be permitted to take the place permanently of silver in the coinage of pieces above the denomination of three cents."^[15] Industrialist Joseph Wharton had a near-monopoly on the mining of nickel in the United States, and sought to promote its use in coinage.^[16] Sony VAIO PCG-51211M Battery He was also highly influential in Congress. His friends there, though they had failed to obtain the metal's use for the two-cent piece, had been more successful with the base-metal three-cent coin.^[17] Pollock prepared a bill authorizing a five-cent coin of the same alloy as the three-cent piece, with a total weight not to exceed 60 grains (3.9 g). Sony VAIO PCG-51212M Battery At the committee stage in the House of Representatives, the weight was amended to 77.19 grains (5.00 g), ostensibly to make the weight equal to five grams in the metric system but more likely so that Wharton could sell more nickel.^[15] This made the new coin heavy, in terms of weight per $.01 of face value, compared to the three-cent copper-nickel coin. Sony VAIO PCG-41111M Battery The bill passed without debate on May 16, 1866.^[15] The new copper-nickel coin was legal tender for up to one dollar, and would be paid out by the Treasury in exchange for coin of the United States, excluding the half cent, cent and two-cent. It was redeemable in lots of $100 for banknotes. Fractional currency in denominations of less than ten cents was withdrawn. Sony VAIO PCG-41111V Battery In anticipation of the approval of the new five-cent coin, the Mint's chief engraver, James B. Longacre, had begun preparing designs and pattern coins in 1865.^[20][21] After rejecting pieces showing deceased presidents George Washington and Abraham Lincoln, Treasury Secretary Hugh McCulloch decided on a design similar to Longacre's two-cent piece, Sony VAIO PCG-61412V Battery with a shield on the obverse and a numeral 5 surrounded by stars and rays on the reverse. This has come to be known as the Shield nickel.^[18] The new coins proved difficult to produce; owing to the hardness of the planchet, the coins were not of high quality and the life of the striking dies was brief. Sony VAIO PCG-71112M Battery The design was widely criticized; Wharton described the obverse as suggesting "a tombstone surmounted by a cross and overhung by weeping willows."^[22] The American Journal of Numismatics described the Shield nickel as "the ugliest of all known coins".^[22] The rays were eliminated from the reverse design in 1867, in the hope of eliminating some of the production problems.^[23] Sony VAIO PCG-81111V Battery The design change created confusion among the population—many people assumed that one design or the other was a counterfeit—and the Mint briefly considered abandoning the shield design entirely.^[20] After heavy production in its first years, by late 1869, enough nickels had been struck to meet the needs of commerce; fewer were coined in the following years.^[24] Sony VAIO PCG-81111V Battery The new coins tended to accumulate in the hands of merchants beyond the legal tender limit, but banks refused to accept them beyond the one-dollar maximum. Storeowners were forced to discount the coins to brokers.^[19] Postmasters, compelled by law to accept the coins, found that the Treasury would not accept them as deposits except in lots of $100, Sony VAIO PCG-81212M Battery in accordance with the authorizing statute.^[25] In 1871, Congress alleviated the problem by passing legislation allowing the Treasury to redeem unlimited quantities of nickels and other low-denomination coins when presented in lots of not less than $20.^[19] It was not until 1933, long after the shield design passed from the scene, that the nickel was made legal tender without limit.^[24] Sony VAIO PCG-81212V Battery Half dimes continued to be struck, at both the Philadelphia and the San Francisco Mint, until the series was ended by the Coinage Act of 1873.^[26][27] Despite the abolition, the silver pieces continued to circulate in the West, where silver or gold coins were preferred, throughout the remainder of the 19th century.^[19] Sony VAIO PCG-51111M Battery Improved economic conditions, combined with low silver prices, brought large quantities of hoarded silver coinage, including half dimes, into circulation beginning in April 1876.^[28] In late 1876, production of the Shield nickel was halted.^[29] No Shield nickels were struck in 1877 or 1878, excepting proofspecimens for collectors.^[19] Sony VAIO VPCS13X9E/B battery As the Treasury had a large stock of nickels in storage, only small numbers were struck over the next few years; full-scale production did not resume until December 1881. The Shield nickel was the first United States five-cent piece to be made out of copper-nickel, the same alloy of which American nickels are struck today. Sony VAIO VPCS12V9E/B battery Designed by James B. Longacre, the coin was issued from 1866 until 1883, when it was replaced by the Liberty Head nickel. The coin takes its name from the motif on its obverse, and was the first coin referred to as a "nickel"—silver five-cent pieces had been known as half dimes. Sony VAIO VPCS12V9E/B battery Silver half dimes had been struck from the early days of the United States Mint in the late 18th century. Those disappeared from circulation, along with most other coins, in the economic turmoil of the Civil War. In 1864, the Mint successfully introduced low-denomination coins, whose intrinsic worth did not approach their face value. Sony VAIO VPCF13M8E/B battery IndustrialistJoseph Wharton advocated coins containing nickel—a metal in which he had significant financial interests. When the Mint proposed a copper-nickel five-cent piece, Congress required that the coin be heavier than the Mint had suggested, allowing Wharton to sell more of the metal to the government. Sony VAIO VPCF13Z0E/B battery Longacre's design was based on his two-cent pieces, and symbolizes the strength of a unified America. The nickel proved difficult to strike, and the reverse, or tails, design was modified in 1867. Even so, production difficulties continued, causing many minor varieties which are collected today. Sony VAIO VPCM13M1E/L battery Minting of the Shield nickel for circulation was suspended in 1876 for a period of over two years due to a glut of low-denomination coinage, and it was struck in only small quantities until 1882. The following year, the coin was replaced by Charles E. Barber's Liberty head design. Sony VAIO VPCM13M1E/W battery Five-cent pieces had been struck by the United States Mint since 1792; they were the first coins struck by Mint authorities.^[1] These half dimes (originally spelled "half dismes"), were struck in silver. The alloy used was originally .892 silver with the remainder copper; in 1837 the silver portion was increased to .900.^[2] Sony VAIO VPCF22M1E battery The Civil War caused most American coins to vanish from circulation, with the gap filled by such means as merchant tokens, encased postage stamps, and United Statesfractional currency, issued in denomination as low as three cents. Although specie (gold or silver coins) was hoarded or exported, the copper-nickel cent, Sony VAIO VPCF11M1E/H battery then the only base metal denomination being struck, also vanished.^[3] In 1864, Congress began the process of restoring coins to circulation by abolishing the three-cent note and authorizing bronze cents and two-cent pieces, with low intrinsic values, to be struck.^[4] These new coins initially proved popular, though the two-cent piece soon faded from circulation. Sony VAIO VPCF13M0E/B battery On March 3, 1865, Congress passed legislation authorizing the Mint to strike three-cent pieces of 75% copper and 25% nickel.^[4] In 1864, Congress had authorized a third series of fractional currency notes. The five-cent note was to bear a portrait of "Clark", but Congress was appalled when the issue came out not bearing a portrait of William Clark, Sony VAIO VPCYB2M1E battery the explorer, but Spencer M. Clark, head of the Currency Bureau. According to numismatic historian Walter Breen, Congress's "immediate infuriated response was to pass a law retiring the 5¢ denomination, and another to forbid portrayal of any living person on federal coins or currency."^[5] Clark only kept his job because of the personal intervention of Treasury Secretary Salmon P. Chase.^[5] Sony VAIO VPCYB3V1E battery Mint Director James Pollock had been opposed to striking coins containing nickel, but in view of the initial success of the copper-nickel three-cent piece, he became an advocate of striking five-cent pieces in the same metal. In his 1865 report, Pollock wrote, "From this nickel alloy, a coin for the denomination of five cents, and which would be a popular substitute for the five cent note, Sony VAIO VPCY11M1E battery could easily be made ... [The five cent coin should be struck in base metal] only until the resumption of specie payments ... in time of peace ... coins of inferior alloy should not be permitted to take the place permanently of silver in the coinage of pieces above the denomination of three cents."^[6] Sony VAIO VPCS12L9E/B battery Industrialist Joseph Wharton had a near-monopoly on the mining of nickel in the United States, and sought to promote its use in coinage.^[7] He was also highly influential in Congress. His friends there, though they had failed to obtain the metal's use for the two-cent piece, had been more successful with the three-cent coin.^[8] Sony VAIO VPCF11S1E/B battery Pollock prepared a bill authorizing a five-cent coin of the same alloy as the three-cent piece, and a total weight not to exceed 60 grains (3.9 g). At the committee stage in the House of Representatives, the weight was amended to 77.19 grains (5.00 g), ostensibly to make the weight equal to five grams in the metric system^[a] Sony VAIO VPCYB3V1E/R Battery but more likely so that Wharton could sell more nickel.^[6] This made the new coin heavy in comparison to the three-cent copper-nickel coin. The bill passed without debate on May 16, 1866.^[6] The new copper-nickel coin was legal tender for up to one dollar, and would be paid out by theTreasury in exchange for coin of the United States, Sony VAIO VPCF23P1E Battery excluding the half cent, cent and two-cent. It was redeemable in lots of $100 for banknotes. Fractional currency in denominations of less than ten cents was withdrawn. Since coinage was to begin immediately, it was necessary for the Mint's chief engraver, James B. Longacre to prepare a design as quickly as possible.^[11] Sony VAIO VPCF23N1E Battery With the five cent authorization bill pending in Congress, Longacre had produced patterns as early as late 1865.^[12] Longacre produced pattern coins, one with a shield similar to the design he had prepared for the two-cent piece.^[11] Longacre altered the two-cent design by shifting the location of the two arrows in the design, Sony VAIO VPCY21S1E/L Battery removed the scroll on which "In God We Trust" had been inscribed (the first time that motto had appeared on a U.S. coin), and added a cross, apparently intending a pattee to the top of the shield.^[b] Another pattern depicted Washington, while another showed the recently assassinated president, Abraham Lincoln. Sony VAIO VPCY21S1E/G battery Reverse designs proposed by Longacre included one with a number 5 within a circle of thirteen stars, each separated from the next by rays. Another reverse design featured the numeral within a wreath.^[11] Treasury Secretary Hugh McCulloch, acting on Pollock's recommendation, selected the shield design for the obverse, Sony VAIO VPCF24M1E battery or "heads" side, and the stars and rays design for the reverse. Pollock did not show McCulloch the Lincoln design, believing it would not be well received in the South. According to numismatic author Q. David Bowers, Longacre's obverse design is "one of the most patriotic motifs in American coinage".^[13] Sony  VAIO VGN-FZ31M Battery Based on the coat of arms from the Great Seal of the United States of America, Longacre's design focused on the shield, or escutcheon as a defensive weapon, symbolizing strength and self-protection through unity. The upper part of the shield, or "chief", symbolizes Congress, while the 13 vertical stripes, or "paleways" symbolize the states; Sony Vaio VGN-FZ19VN Battery consequently the entire escutcheon symbolizes the strength of the federal government through the unity of the states.^[14] The crossed arrows, whose ends are visible near the bottom of the shield, symbolize nonaggression, but imply readiness against attack. The laurel branches, taken from Greek tradition, symbolize victory.^[14] Sony Vaio VGN-FZ39VN Battery In heraldic engraving, vertical lines represent red, clear areas white and horizontal lines blue, thus the escutcheon is colored red, white and blue and is meant to evoke the American flag. Bowers does not consider the reverse design an artistic work, but one which is purely mechanical, obtained by punching characters and devices into a steel hub.^[13] Sony Vaio VGN-FZ39VN Battery The new coins proved difficult to produce; due to the hardness of the planchet, the coins were not of high quality and the life of the striking dies was brief. The design of the coins was widely criticized, with Wharton describing the shield design as suggesting "a tombstone surmounted by a cross and overhung by weeping willows."^[15] Sony Vaio VGN-FZ31ZR Battery The American Journal of Numismatics described it as "the ugliest of all known coins".^[15] More seriously, the reverse design reminded many of the "stars and bars" motif of the defeated Confederate States.^[10] The rays were eliminated from the design in early 1867, in the hopes of eliminating some of the production problems.^[16] Sony Vaio VGN-FZ31SR Battery The transition to the new design was to occur on February 1, 1867, but it is likely the mint used up the remaining dies with the old design in the interest of economy.^[17] The design change created confusion among the population, with many people assuming one design or the other was acounterfeit, and the Mint considered abandoning the shield design entirely. Sony Vaio VGN-FZ31ER Battery Seeking alternatives to the difficult-to-work copper-nickel alloy, in June 1867 Longacre proposed that the five-cent piece be struck in aluminum. The new Mint director, Henry Linderman, objected to the proposal, stating that the price and supply of aluminum were as yet uncertain, and that the metal was too expensive to use in a minor coin. Sony Vaio VGN-NR31E/S Battery Numismatic historian Don Taxay, in his history of the United States Mint and its coins, noted that Linderman had proposed legislation increasing the proportion of nickel in the alloy to a third despite having earlier opposed the use of nickel in coins. Taxay suggested that Linderman was most likely influenced by Wharton and the metal's other advocates.^[18] Sony Vaio VGN-NR31ER/S Battery By late 1869, enough nickels, as the coin came to be called, had been produced to meet the needs of commerce, and production dropped off.^[19] The new coins tended to accumulate in the hands of merchants beyond the legal tender limit, but banks refused to accept them beyond the one-dollar maximum. Sony Vaio VGN-NR31J/S Battery Storeowners were forced to discount the coins to brokers.^[10] Postmasters, compelled by law to accept the coins, found that the Treasury would not accept them as deposits except in lots of $100, in accordance with the authorizing statute.^[20] In 1871, Congress alleviated the problem by passing legislation allowing the Sony Vaio VGN-NR31MR/S Battery Treasury to redeem unlimited quantities of nickels and other low-denomination coins when presented in lots of not less than $20.^[10] It would not be until 1933, long after the shield design passed from the scene, that the nickel was made legal tender without limit.^[19] The Mint Act of 1873 ended the production of the half dime.^[21] Sony Vaio VGN-NR31S/S Battery Despite the abolition, the silver pieces continued to circulate in the West, where silver or gold coins were preferred, and the nickel was disliked, throughout the remainder of the 19th century.^[10] The act also gave the Mint Director the authority to suspend production of any denomination if additional coins were not needed. Sony Vaio VGN-NR31SR/S Battery Improved economic conditions, combined with low silver prices, brought large quantities of hoarded silver coinage, including half dimes, into circulation beginning in April 1876.^[22] In late 1876, production of the Shield nickel was halted under the 1873 act.^[23] No Shield nickels were struck in 1877 or 1878, excepting proof specimens for collectors.^[10] Sony Vaio VGN-NR31Z/S Battery As the Treasury had a large stock of nickels in storage, only small numbers were struck over the next few years; full-scale production began again on December 12, 1881. The 1880 nickel, with only 16,000 pieces struck for circulation, remains the rarest non-proof Shield nickel today. The Shield nickel series has yielded a large number of varieties. Howard Spindel, Sony Vaio VGN-NR31Z/T Battery a leading expert on Shield nickels, notes that Shield nickel dies produced far fewer coins than other coin dies, as the dies wore out so fast that the Mint was continually under great pressure to produce new ones. According to Spindel, many dies were hastily and carelessly produced, producing numerous minor varieties.^[25] Sony Vaio VGN-NR31ZR/S Battery Bowers points to the 1868 nickel as "a playground for repunching [repunched dates], errors, and the like".^[25] Specialists have found more than sixty different doubled die varieties, caused by misalignment when the heated die was repeatedly pressed against the hub to transfer the design. Sony Vaio VGN-NR38E/S Battery There are several different kinds of repunched dates, including a variety in which the numeral "1" is much smaller than usually found on the Shield nickel.^[26] As with many denominations of United States coins, there are two major varieties of the 1873 piece. The initial variety, known as the "close 3" or "closed 3" was struck first. Sony Vaio VGN-NR38M/S Battery These coins led to a complaint by the chief coiner, A. Loudon Snowden, to Pollock, who was again director of the Mint. Snowden stated that the numeral "3" in the date too closely resembled an "8". The Mint prepared new date punches, in which the arms of the 3 did not curl around toward the center, creating the second variety, the "open 3".^[27] Sony Vaio VGN-NR38S/S Battery The final year of production saw an overdate, 1883/2, with a visible "2" under or near the digit "3". This variety was caused by the use of 1882-dated dies which were not destroyed at the end of the year, but were instead repunched with a four-digit logotype, "1883". Five different dies are known to have been so reused, and Bowers estimates a mintage of 118,975 pieces. Sony Vaio VGN-NR38Z/S Battery Spindel estimates that only 0.2%–0.3% of the pieces have survived to the present. The 1867 redesign of the reverse had not solved the problems of short die life and poor striking;^[29] with a view to a redesign, pattern coins were struck in 1868 and 1871,^[30] but the Shield nickel remained in production.^[29] Sony Vaio VGN-NR38Z/T Battery Charles E. Barberbecame chief engraver in 1880, and the following year was asked to produce uniform designs for the nickel, the three-cent piece, and a proposed copper-nickel cent. While the redesign of the two lower denominations did not occur, in 1882, Barber's design for the nickel, Sony Vaio VGN-NR31E/S Battery with a Liberty head on the obverse and the Roman numeral "V" on the reverse, was approved. The following year the Barber design replaced the Shield nickel.^[31] Shield nickels dated 1883 had already been coined by the time the Barber design was ready, and Mint officials desired to discourage speculation. Sony VPCW11S1E/P Battery Accordingly, they kept the shield design in production for several months side by side with what became known as the Liberty Head nickel. Almost a million and a half Shield nickels were struck in 1883.^[32] Coinage of the Shield nickel was ended on June 26, 1883. Sony VPCW11S1E/P Battery Shield nickel proof mintages from before 1878 are modern estimates and may vary—for example, Bowers estimates 800–1,200 for the 1866 piece, while Peters estimates 375+.^[35] The issue is complicated by the fact that restrikes were made of proofs, sometimes years after the inscribed date. Sony VPCW11S1E/T Battery Mint officials, despite what Bowers terms "official denials (a.k.a. lies)", reused dies which had supposedly been destroyed to strike pieces for favored collectors or dealers. This practice led to incongruous pieces, with a dated obverse mated with a reverse not placed in use until years later.All pieces struck at the Philadelphia mint, without mintmark. Sony VPCW11S1E/W Battery With production of nickels lagging in the late 1870s, and with minimal strikings of the copper-nickel three-cent piece, Wharton sought to increase the use of nickel at the Mint. The bronze cent represented a major portion of the Mint's production, and Wharton began to lobby for the piece to be struck in copper-nickel, as it had been from 1857 until 1864. Sony VPCW12S1E/P Battery In 1881, this lobbying led Philadelphia Mint Superintendent Archibald Loudon Snowden to order Mint EngraverCharles Barber to produce uniform designs for a new cent, three-cent piece, and five-cent piece.^[31] Snowden required that the new coins depict the head of Liberty with the legend LIBERTY and the date, Sony VPCW12S1E/T Battery with the nickel's reverse to have a wreath of wheat, cotton, and corn around a Roman numeral "V" for "5", to denote the denomination.^[33] Under the proposal, the nickel would retain its weight of 5 grams (0.18 oz), but its diameter would be increased to 22 millimeters (0.87 in).^[34] Sony VAIO VGN-NR21E/S Battery Barber duly produced the required designs.^[34] Snowden eventually decided against a new cent or three-cent piece, but Barber continued work on the nickel, with the size adjusted to 21.21 millimeters (0.835 in).^[33] When specimens were sent to Washington for routine approval by Treasury Secretary Charles J. Folger, to Snowden's surprise, they were rejected. Sony VAIO VGN-NR21J/S Battery The secretary, on review of the coinage statutes, had realized that the laws required "UNITED STATES OF AMERICA" to appear on the reverse, not the obverse where Barber had placed it. Barber modified his design accordingly, and the coin was ready for striking in early 1883.^[35] Sony VAIO VGN-NR21S/S Battery However, by then, Shield nickels dated 1883 had already been coined. To ensure these pieces would not be hoarded for their rarity, Mint officials kept the two designs in production side by side for several months.^[36] Criminals soon realized that the new nickel, which lacked the word "CENTS", Sony VAIO VGN-NR21S/T Battery was close in size to the five-dollar gold piece, and if they were to plate the nickel with gold, it might be passed for five dollars.^[37] Some coins were even given a reeded edge by fraudsters, making them appear more like the gold coins.^[38] The Mint halted production of the new coins; production of Shield nickels continued. Sony VAIO VGN-NR11Z/T Battery Barber was told to modify his work, which he did, moving other design elements to accommodate the word "CENTS" at the bottom of the reverse. The revised nickel was issued on June 26, 1883, the date on which production of the Shield nickel was finally stopped. The public promptly hoarded the "centless" nickels,^[39] Sony VAIO VGN-NR11Z/S Battery believing the Treasury Department intended to recall them, and that they would become rare.^[40] The Liberty Head nickel was heavily struck during its 30-year run, except during economic downturns in 1885–1886 and in 1894, when only small numbers were struck.^[41][42] In 1890, Congress ended production of the three-cent piece, Sony VAIO VGN-NR11S/S Battery leaving the five-cent coin as the only one in copper nickel. That year, Congress also allowed the Secretary of the Treasury to authorize the redesign of United States coins, if the former design had been struck for at least 25 years. Although the nickel and silver dollar had been redesigned within the previous quarter-century, Sony VAIO VGN-NR11M/S Battery a provision in the latter act made them eligible for immediate redesign. In 1896, pattern nickels were struck for the first time since 1885, when experimental, holed coins had been tested; however, no redesign took place. Coin-operated machines to vend food, for amusement, and for gambling became popular in the 1890s. Sony VAIO VGN-SR11M Battery Such machines could be placed on otherwise unused floor space in businesses, required little maintenance, and brought in money for owners. Beginning about 1898, coin-operated mechanical pianos also became popular. The Mills Novelty Company was a leading producer of such devices; Sony VAIO VGN-SR11MR Battery by 1906 it was producing machines ranging from a mechanically played violin to fortune-telling devices. While some machines took cents or other denominations, the nickel was the coin of choice for these machines.^[46] Among the innovations in business caused by the use of the nickel in coin-operated machines was the automat, Sony VAIO VGN-SR19VN Battery in which patrons would serve themselves by inserting a coin (initially a nickel, though by the 1950s a higher denomination was needed) into a mechanism, turning a handle, and removing a sandwich or dessert. These restaurants were first established in Germany, but were popularized in the United States by, among other firms, Horn & Hardart. Sony  VGP-BPS13 Battery A type of business which took its name from the coin was the nickelodeon cinema, where a nickel bought admission to view a series of one-reel short films, generally about 12 minutes in length, which ran continuously from early afternoon until late at night, with the patron free to remain as long as he liked. Sony  VAIO VGP-BPS13A/B Battery Although another denomination gave the penny arcade its name, the nickel was commonly used there as well.^[47] Few nickels had circulated in the western states before the 1880s, which preferred only silver and gold; interest in the new Liberty Head design had led to increasing use of nickels there. Sony  VAIO VGP-BPS13B/B Battery Good economic conditions and high demand for nickels for use in coin-operated devices caused the piece to circulate throughout the nation by 1900. That year, Mint Director George E. Roberts called on Congress to quintuple the Mint's appropriation to purchase base metals for striking into nickels and cents. Sony  VAIO VGP-BPS13/S Battery At the time, statutory restrictions permitted production of cents and nickels only at Philadelphia; Roberts' request that Congress allow striking at the other mints was granted in 1906. The Denver and San Francisco Mints began striking nickels in 1912. The Liberty Head nickel was replaced after 1912, and initially there was no indication that 1913-dated pieces with that design existed. Sony  VAIO VGP-BPS13A/S Battery In December 1919, a coin dealer, Samuel W. Brown, placed advertisements in coin publications, offering to buy 1913 Liberty Head nickels. The following August, Brown appeared at the annual American Numismatic Association (ANA) convention bearing such a piece.^[50] Sony  VAIO VGP-BPS13B/S Battery Brown claimed that a master die had been prepared for 1913 and that these pieces had been run off to test it.^[51] As it turned out, Brown possessed five coins, which he eventually sold. After spending fifteen years in the hands of the eccentric Col. E.H.R. Green, the famous Fort Worth, Texas, area collector, the coins were finally dispersed in 1943. Since then, they have had several owners each. Today, two are on public display—at the Smithsonian Institution in Washington and the ANA's Money Museum inColorado Springs, while three are owned privately. The most recent sale of a 1913 Liberty Head nickel was in January 2010, when one sold for $3,737,500 in an auction.^[52] It is uncertain how the 1913 nickels came to be made. The Mint's records show no production of 1913 Liberty head nickels, and none were authorized to be made.^[53] Dies were prepared in advance and sent to California for a 1913-S Liberty Head nickel coinage, but upon orders from Mint Director Roberts in December 1912 to end the old design, Sony  VAIO VGP-BPS13/Q Battery they were returned to Philadelphia. They were received by December 23, and were almost certainly destroyed routinely by early January.^[54] Brown had been an employee at the Philadelphia Mint (although this was not known until 1963) and many theories focus suspicion on him. Sony  VAIO VGP-BPS13A/Q Battery President Theodore Roosevelt in 1904 expressed his dissatisfaction with the artistic state of American coins,^[56] and hoped to hire sculptor Augustus Saint-Gaudens to beautify them. Saint-Gaudens, before his 1907 death, designed a new eagle anddouble eagle, which entered circulation that year; Sony  VAIO VGP-BPS13B/Q Battery the cent, quarter eagle, and half eagle were redesigned by other artists and were released into circulation by 1909. That year, Mint Director Frank Leach instructed Barber to make pattern coins for new nickels. Most of these coins featured the first president, George Washington.^[57] Sony  VGP-BPS21 Battery However, the project was discontinued when Leach left office on November 1, 1909, to be replaced by Abram Andrew.^[57] On May 4, 1911, Eames MacVeagh, son of Treasury Secretary Franklin MacVeagh wrote to his fatherSony  VGP-BPS21A Battery A little matter that seems to have been overlooked by all of you is the opportunity to beautify the design of the nickel or five cent piece during your administration, and it seems to me that it would be a permanent souvenir of a most attractive sort. As possibly you are aware, it is the only coin the design of which you can change during your administration, Sony  VGP-BPS21B Battery as I believe there is a law to the effect that the designs must not be changed oftener than every twenty-five years. I should think also it might be the coin of which the greatest numbers are in circulation. Soon after the MacVeagh letter, Andrew announced that the Mint would solicit new designs for the nickel. Sony  VGP-BPS21/S Battery Sculptor James Earle Fraser, who had been an assistant to Saint-Gaudens, approached the Mint, and rapidly produced concepts and designs. Mint Director George Roberts, who had returned to office in place of Andrew, initially favored a design featuring Lincoln, but Fraser soon developed a design featuring a Native American on one side and a bison on the other.^[59Sony  VGP-BPS21A/b Battery ^] Secretary MacVeagh wrote, "Tell him that of the three sketches which he submitted we would like to use the sketch of the head of the Indian and the sketch of the buffalo."^[60] In July 1912, news of the new nickel became public, and coin-operated machine manufacturers sought information. Sony VGP-BPS26 Battery Clarence Hobbs of the Hobbs Manufacturing Company, maker of counterfeit detectors, feared the new nickel would not be passed by his devices.^[61] Hobbs demanded various changes to the design, to which the artist was reluctant to agree.^[62] The Hobbs Company continued to interpose objections in 1913.^[63] Sony VGP-BPL26 Battery On February 3, Hobbs sent Roberts a lengthy list of changes that he wanted in the coin, and the sculptor was required to attend a conference with Hobbs representatives.^[64] On the fifth, following the conference, which ended with no agreement, Fraser sent MacVeagh a ten-page letter, complaining that his time was being wasted by the Hobbs Company, Sony VGP-BPS26A Battery and appealing to the Secretary to bring the situation to a close.^[65] Secretary MacVeagh agreed to hold a meeting at his office in Washington on February 14.^[66] Barber prepared patterns showing what the nickel would look like if the changes demanded by Hobbs were made. MacVeagh conducted the meeting much like a legal hearing, Sony VGP-BPS22 Battery and issued a letter the following day.^[67] The secretary noted that no other firm had complained, that the Hobbs mechanism had not been widely sold, and that the changes demanded—a clear space around the rim and the flattening of the Indian's cheekbone—would affect the artistic merit of the piece. Sony VGP-BPL22 Battery MacVeagh concluded, "You will please, therefore, proceed with the coinage of the new nickel."^[68]The coins were officially released to circulation on March 4, 1913, and quickly gained positive comments for depicting truly American themes.^[69] However, The New York Times stated in an editorial that "Sony VGP-BPS22A Battery The new 'nickel' is a striking example of what a coin intended for wide circulation should not be ...[it] is not pleasing to look at when new and shiny, and will be an abomination when old and dull."^[70] The Numismatist, in March and May 1913 editorials, gave the new coin a lukewarm review, suggesting that the Indian's head be reduced in size and the bison be eliminated from the reverse.^[71] Sony VAIO PCG-3B1M Battery Dies for the new design proved to break quickly.^[72] Barber made proposed revisions, which Fraser approved after being sent samples.^[73] These changes enlarged the legend "FIVE CENTS" and changed the ground on which the bison stands from a hill to flat ground.^[74] Sony VAIO PCG-3D1M Battery According to data compiled by numismatic historian David Lange from the National Archives, the changes to what are known as Type II nickels (with the originals Type I) actually decreased the die life.^[75] A problem not addressed was the exposure of the date to wear; many Buffalo nickels today have the date worn away.^[69] Sony VAIO PCG-3G2M Battery In January 1938, the Mint announced an open competition for a new nickel design, to feature early president Thomas Jefferson on the obverse, and Jefferson's home, Monticello on the reverse.^[76] The last Buffalo nickels were struck in April 1938 at the Denver Mint, the only mint to strike them that year. Sony VAIO PCG-5R1M Battery The identities of the models for the Native American on the obverse and for the bison on the reverse are not known with certainty. Fraser stressed that the Indian was a type, rather than based on a specific individual, and identified various Native Americans as models, not always consistently, including Iron Tail, Two Moons,^[78] and Big Tree (of the Kiowa people).^[79] Sony VAIO PCG-7162M Battery There have been other claimants, the most prominent being John Big Tree, a Seneca, who made many public appearances as the "nickel Indian" until his death in 1967.^[80] Fraser recounted that the animal on the reverse was an American bison, Black Diamond, whom he stated lived at the Bronx Zoo, Sony VAIO PCG-7181M Battery and also described the model simply as a bison at the Bronx Zoo.^[81] However, Black Diamond was never at the Bronx Zoo, but instead lived at the Central Park Zoo (both facilities are in New York City) until the animal was sold and slaughtered in 1915. The placement of the horns on the still-extant mounted head of Black Diamond differs from that of the bison on the nickel.^[82] Sony VAIO PCG-41112M Battery From its inception, the coin was referred to as the "Buffalo nickel", reflecting the common misnomer for the bison. The numismatic publication with the greatest circulation, Coin World, calls it an Indian head nickel, while R.S. Yeoman's Red Book refers to it as an "Indian Head or Buffalo type".Sony VAIO PCG-7153M Battery When the Buffalo nickel had been struck for 25 years and could be replaced without an act of Congress, the Mint moved quickly to replace it. Although the Fraser design is popular today among numismatists, it did not enjoy that status in 1938, and there was no public outcry at the decision.^[84] Sony VAIO PCG-71312M Battery In January 1938, the Mint announced an open competition for the new nickel design, with the winner to receive a prize of $1,000. Anticipating the 1943 bicentennial of Jefferson's birth, competitors were to place his portrait on the obverse, and a depiction of his house Monticello on the reverse.^[76] Sony VAIO PCG-7144M Battery On April 24, Felix Schlag was announced as the winner. His design featured the portrayal of Jefferson which would be used on the nickel until 2005, closely conforming to the former president's bust by sculptor Jean-Antoine Houdon, which is to be found inBoston's Museum of Fine Arts. Sony VAIO PCG-7191L Battery However, the model differs from the nickel that was struck for circulation because it featured a view of Monticello from an angle, and a style of lettering officials did not like; Schlag was required to change both.^[85] Either through a misunderstanding or an oversight, Schlag did not include his initials in the design; they would not be added until 1966.^[86Sony VAIO PCG-3C1M Battery ^]Production began on October 3, 1938; they were released into circulation on November 15.^[87] According to contemporary accounts, the Jefferson nickel was initially hoarded, and it was not until 1940 that it was commonly seen in circulation.^[88] With the entry of the United States into World War II, nickel became a critical war material, Sony VAIO PCG-3F1M Battery and the Mint sought to reduce its use of the metal. On March 27, 1942, Congress authorized a nickel made of 50% copper and 50% silver, but gave the Mint the authority to vary the proportions, or add other metals, in the public interest. The Mint's greatest concern was in finding an alloy that would use no nickel, but still satisfy counterfeit detectors in vending machines. Sony VAIO PCG-3H1M Battery An alloy of 56% copper, 35% silver and 9% manganese proved suitable, and this alloy began to be coined into nickels from October 1942. In the hope of making them easy to sort out and withdraw after the war, the Mint struck all "war nickels" with a large mint mark appearing above Monticello. Sony VAIO PCG-3J1M Battery The mint mark P for Philadelphia was the first time that mint's mark had appeared on a US coin.^[89] The prewar composition returned in 1946; all nickels struck since then have been in 75% copper and 25% nickel.^[90] In 1966, a small change was made to the design to add the initials of the designer (FS) to the obverse, Sony VAIO PCG-8141M Battery underneath Jefferson's portrait. In commemoration of that change, two specimen 1966 nickels with the initials were struck and presented to him. Coins struck at any mint between 1965 and 1967 lack mint marks, which were omitted as the Mint replaced the silver circulating coins with copper-nickel. Sony VAIO PCG-8161M Battery Beginning in 1968, mint marks were again used, and on the nickel were moved to the lower part of the obverse, to the right of Jefferson's bust.^[91] From 1971, no nickels were struck for circulation in San Francisco—the 1971-S was the first nickel struck in proof only since 1878. Sony VAIO PCG-3C2M Battery The Mint had struck circulating commemorative coins for the United States Bicentennial, giving quarters, half dollars, and dollars struck in 1975 and 1976 a dual date, "1776–1976".^[93] After Canada issued a successful series of quarters in 1992 honoring its provinces and territories, Sony VAIO PCG-5N2M Battery the Mint obtained congressional permission to issue a series of US quarters honoring American states; they began to be issued in 1999.^[94] In 2002, the Mint began to consider redesigning the nickel in honor of the upcoming bicentennial of the Lewis and Clark Expedition. Representative Eric Cantor (Republican-Virginia) Sony VAIO PCG-5P1M Battery did not wish to see Monticello (located in his home state) moved permanently off the nickel.^[95] The resultant "American 5-Cent Coin Design Continuity Act of 2003", was signed into law on April 23, 2003. Under its terms, the Treasury Secretary could vary the nickel's designs in honor of the 200th anniversary of the Expedition and of the Louisiana Purchase, Sony VAIO PCG-5S1M Battery but the nickel would again feature Jefferson and Monticello beginning in 2006.^[96] Unless Congress acts again, every future five-cent coin will feature Jefferson and Monticello.^[97] The Mint used Schlag's obverse in 2004, with two new reverse designs.^[98] Mint sculptor-engraver Norman E. Nemeth's adaptation of an Indian Peace Medal struck for Jefferson was the first new design, Sony VAIO PCG-9Z1M Battery followed by a depiction by Mint sculptor-engraver Al Maletsky of a keelboat like that used by the Expedition.^[99] The 2005 obverse was struck during that year only, with a design by sculptor Joe Fitzgerald based on Houdon's bust of Jefferson.^[100] The legend "LIBERTY" on the obverse was traced from Jefferson's handwriting in drafting the Declaration of Independence; Sony VAIO PCG-7171M Battery as the word is never capitalized in that document, Fitzgerald borrowed a capital L from Jefferson's other writings.^[101] The reverse for the first half of the year depicted an American bison, recalling the Buffalo nickel and designed by Jamie Franki. The reverse for the second half showed a coastline and the words "Ocean in view! O! The Joy!", Sony VAIO PCG-7186M Battery from a journal entry by William Clark, co-leader of the Expedition.^[100] Clark had actually written the word as "ocian", but the Mint modernized the spelling.^[101] Another Franki design has, since 2006, been used for the obverse, depicting a view of Jefferson from the front (rather than in profile)^[102] based on a 1800 study by Rembrandt Peale, Sony VAIO PCG-81112M Battery and includes "Liberty" in Jefferson's script. According to Acting Mint Director David Lebryk, "The image of a forward-facing Jefferson is a fitting tribute to [his] vision."^[103] The reverse beginning in 2006 was again Schlag's Monticello design, but newly sharpened by Mint engravers.^[104] Sony VAIO PCG-31111M Battery As Schlag's obverse design, on which his initials were placed in 1966, is no longer used, his initials were placed on the reverse to the right of Monticello. In the first decade of the 21st century, commodity prices for copper and nickel, which make up the five-cent coin, rose dramatically, pushing the cost of manufacturing a nickel from 3.46 cents in fiscal year 2003 to 10.09 cents in fiscal year 2012.^[106] Sony VAIO PCG-31311M Battery In an attempt to avoid losing large quantities of circulating nickels to melting, the United States Mint introduced new interim rules on December 14, 2006, that criminalized the melting and export of pennies (which as of 2011 cost 2.41 cents to produce) and nickels. Violators of these rules can be punished with a fine of up to $10,000, five years imprisonment, or both. The rules were finalized on April 17, 2007.^[ Sony VAIO PCG-8152M Battery The melt value of a nickel for some time was more than five cents, including nearing double its face value in May 2007. Since then, the supply and demand of the coin's composition metals have stabilized. A nickel's melt value fell below its face value for several weeks between October and November 2012, and more recently again on February 28, 2013.^[109] Sony VAIO PCG-61111M Battery Mint Director Henrietta Fore in 2004 asked Congress to fund research into lower-cost alternatives to present coinage metals. Although the initiative lapsed when she left office in 2005, in 2010, Congress passed the Coin Modernization, Oversight, and Continuity Act, directing the Mint to explore alternatives to the present compositions of the six denominations, from cent to dollar. Sony PCG-71213M Battery In 2011, the Mint awarded a contract to study the issue to Concurrent Technologies Corporation of Johnstown, Pennsylvania.^[108] The report in response to the legislation requested additional time to study the issue, ensuring the continuation, for the present, of the existing coinage metals.^[110] Sony PCG-71311M Battery The Mint expects demand for nickels in commerce to increase from 840 million needed in Fiscal Year 2011 to 1.08 billion in 2015. The Liberty Head nickel, sometimes referred to as the V nickel because of its reverse (or tails) design, was an American five-cent piece. Sony PCG-71312M Battery It was struck for circulation from 1883 until 1912, with at least five pieces being surreptitiously struck dated 1913. The original copper–nickel five-cent piece, the Shield nickel, had longstanding production problems, and in the early 1880s, the United States Mint was looking to replace it. Sony PCG-71212M Battery Mint Chief Engraver Charles Barber was instructed to prepare designs for proposed one-, three-, and five-cent pieces, which were to bear similar designs. Only the new five-cent piece was approved, and went into production in 1883. For almost thirty years large quantities of coin of this design were produced to meet commercial demand, especially as coin-operated machines became increasingly popular. Sony PCG-71811M Battery Beginning in 1911, the Mint began work to replace the Liberty head design, and a new design, which became known as theBuffalo nickel, went into production in February 1913. Although no 1913 Liberty head nickels were officially struck, five are known to exist. While it is uncertain how these pieces originated, they have come to be among the most expensive coins in the world, with one selling in 2010 for $3,737,500. Sony PCG-71911M Battery Industrialist Joseph Wharton, who had interests in nickel mining and production, had been influential in the decision to use the metal in coinage in the mid-1860s, leading to the introduction of the Shield nickel in 1866.^[1] The Shield nickel presented difficulties through its life: the intricate design made the coins not strike well. Sony PCG-91211M Battery Modification to the design failed to solve the technical problems, and the mint had considered replacing the design as early as 1867. Nevertheless, the Shield nickel remained in production.^[2] With production of copper–nickel five-cent pieces lagging in the late 1870s, and with production of the copper-nickel three-cent piece nearly moribund, Sony PCG-91111M Battery Wharton sought to increase his sales of nickel to the United States Mint. Although copper-nickel coins were struck only in small numbers, the bronze centrepresented a major portion of the Mint's production, and Wharton began to lobby for the piece to be struck in copper-nickel.^[1] Sony VAIO PCG-5J4M Battery In 1881, this lobbying led Mint Superintendent Archibald Loudon Snowden to order Mint Chief Engraver Charles Barber to produce uniform designs for a new cent, three-cent piece, and five-cent piece.^[1] Snowden informed Barber that the proposed designs were to feature on the obverse (or heads side) a classic head of Liberty with the legend "Liberty" and the date. Sony VAIO PCG-5K1M Battery The reverse (or tails side) was to feature a wreath of wheat, cotton, and corn around a roman numeral designating the denomination of the coin; thus the five-cent piece was to have the roman numeral "V".^[3] The proposal for the cent would decrease its size to 16 millimetres (0.63 in) and its weight to 1.5 grams (0.053 oz), Sony VAIO PCG-5K2M Battery and the modifications to the three-cent piece would increase its size to 19 millimetres (0.75 in) and its weight to 3 grams (0.11 oz). The nickel would retain its weight of 5 grams (0.18 oz), but its diameter would be increased to 22 millimetres (0.87 in).^[4] Barber duly produced the required designs. Fairly large numbers of pattern coins were struck.^[4] Sony VAIO PCG-5J5M Battery Barber's design for the nickel showed a portrait similar to that eventually adopted for the obverse, with "United States of America" and the date. The reverse featured the required wreath surrounding the "V", and no other lettering. A modified pattern design later that year added the words "In God We Trust" to the reverse.^[5] Sony VAIO PCG-5L2M Battery Snowden decided that the proposed cents and three-cent pieces would be too small for effective use, but Barber continued work on the nickel, with the size adjusted to 21.21 millimetres (0.835 in).^[3] Barber reworked the design in 1882, adding "E Pluribus Unum"^[a] to the reverse. Sony VAIO PCG-6S4M Battery One variant that was struck as a pattern, but was not adopted, was a coin with five equally-spaced notches in the rim of the coin. This "Blind Man's nickel" was struck at the request of Congressman and former Union General William S. Rosecrans, who stated that many of his wartime colleagues had been blinded by combat or disease.^[6] Sony VAIO PCG-6W1M Battery Late that year, Barber's 1882 design was endorsed by Mint authorities, and 25 specimens were sent to Washington for routine approval by Treasury SecretaryCharles J. Folger. To Snowden's surprise, Folger rejected the design. The secretary, on review of the coinage statutes, Sony VAIO PCG-6W2M Battery had realized that the laws required "United States of America" to appear on the reverse, not the obverse. Folger had then consulted with President Chester Arthur, who confirmed Folger's opinion. Snowden suggested that an exception should be made, but Folger refused, and Barber modified his design accordingly. The revised design was approved, and the coin was ready for striking in early 1883. Sony VAIO PCG-7Z1M Battery Striking of the new coins began on January 30, 1883, and the Mint placed the first pieces in circulation on February 1.^[8] Snowden, concerned about reports of speculation in 1883 Shield nickels, received permission on February 6 to continue striking Shield nickels for several months alongside the new pieces.^[9] Sony VAIO PCG-8Y2M Battery It had not been thought necessary to inscribe the word "cents" on the nickel; the silver and copper-nickel three-cent pieces had circulated for years with only a Roman numeral to indicate the denomination.^[10] Enterprising fraudsters soon realized that the new nickel was close in diameter to that of the five-dollar gold piece, and if the new coin was gold-plated, Sony VAIO PCG-8Y3M Battery it might be passed for five dollars. They soon did so, and had success in passing the coin.^[11] Some coins were given a reeded edge by the fraudsters, to make them appear more like the gold coins.^[12] A widespread tale is that one of the perpetrators of this fraud was a man named Josh Tatum, who would go into a store, select an item costing five cents or less, Sony VAIO PCG-8Z1M Battery and offer the gold-plated piece in payment—and many clerks gave him $4.95 in change. According to the tale, the law had no recourse against Tatum, as he had tendered the value of his purchase and had merely accepted the change as a gift.^[11] By some accounts, Tatum could not have misrepresented the value of the coin as he was a deaf-mute.^[2] Sony VAIO PCG-8Z2M Battery The plating of the nickels caused consternation at the Mint, and brought production of Liberty Head nickels to a sudden stop. Barber was told to modify his design, which he did, moving other design elements to accommodate the word "cents" at the bottom of the reverse design. Sony VAIO PCG-8Z3M Battery The revised nickel was issued on June 26, 1883, the date on which production of the Shield nickel was finally stopped. The public responded by hoarding the "centless" nickels,^[13] egged on by reports that the Treasury Department intended to recall those nickels, and that they would become rare. Sony VAIO PCG-7112M Battery After heavy mintages of the nickel in 1883 and 1884, production was much lower in 1885 and 1886. This was due to an economic downturn which lowered demand for the coins. The 1886 production was also depressed by the Treasury's decision to reissue large numbers of worn minor coins. Sony VGP-BPL15/B Battery It was not until September 1886 that the Mint resumed full production of the coin.^[15] By 1887, however, the Mint was overwhelmed by orders, melting down large quantities of older copper-nickel coins to meet the demand. Despite these efforts, the Mint was forced to return many orders unfilled.^[16] Sony VGP-BPS15/B Battery Demand remained strong until 1894, when the Mint temporarily suspended production as it had accumulated a surplus during the Panic of 1893.^[17] The Coinage Act of 1890 retired a number of obsolete denominations, including the three-cent piece. Another Act of Congress, also enacted on September 26, Sony VGP-BPL15/S Battery 1890 required that coinage designs not be changed until they had been in use 25 years, unless Congress authorized the change.^[18] However, the second act indicated that nothing in the law was to prevent the redesign of the current five-cent piece and silver dollar "as soon as practicable after the passage of this act".^[19] Sony VGP-BPS15/S Battery In 1896, pattern nickels were struck for the first time since 1885, when experimental, holed coins had been tested. The 1896 pieces, which featured a simple shield with arrows crossed behind it, were struck in response to a resolution of the House of Representatives asking the Secretary of the Treasury to report to it on the advantages and disadvantages of using various alloys in coinage.^[20] Pattern nickels would not be struck again until 1909. Sony VGP-BPS15 Battery The turn of the century saw unprecedented demand for nickels, due to a booming economy and the use of nickels in coin-operated machines. In 1900, Mint Director George E. Roberts called on Congress to grant the Mint a larger appropriation to purchase base metals, allowing for greater production of nickels and cents.^[22] Sony VGP-BPL15 Battery The same year, the design was modified slightly, lengthening some of the leaves on the reverse. This change occurred with the introduction of a new hub, from which coining dies were made.^[23] Demand for the coins remained heavy; in March 1911, Mehl's Numismatic Monthly reported that the Mint was working twenty-four hours a day to produce cents and nickels, and even so was failing to satisfy demand.^[24] Sony VGN-P series Battery Mint directors, in their annual reports, had long called for the authority to strike cents and nickels at all mints; by law they could then only be struck at Philadelphia. On April 24, 1906, this restriction was removed, although the first base metal coins, cents in both cases, were not struck at San Francisco until 1908 and Denver until 1911. Sony VGN-P11Z/Q Battery In 1912, nickels were coined for the first time at each of the two branch mints.^[25] The 1912-S (for San Francisco) nickel was not struck until Christmas Eve, and was only struck for four business days. A 1912-S nickel, one of the first forty coined, was used by former San Francisco Mayor James D. Sony VGN-P11Z/R Battery Phelan to pay the first fare on the city's first streetcar on December 28, 1912.^[26] Excluding the 1913 nickel, the 1912-S, with only 238,000 struck, is by far the rarest in the series. In 1909, consideration was given to the replacement of the Liberty Head nickel by a new design. Sony VGN-P11Z/W Battery In an attempt to modernize the coinage, the cent and the gold pieces had been redesigned. Prominent artists from outside the Mint had been contracted to provide the designs of the new coins, much to Barber's disgruntlement. Mint Director Frank A. Leach was an admirer of Barber's work, and had him prepare designs to be struck as patterns. Sony VGN-P21S/W Battery Barber, at Leach's request, prepared a design showingWashington's head, and newspapers reported that new coins might be issued by the end of 1909. In July 1909, however, Leach resigned, putting an end to the matter for the time being. On May 4, 1911, Eames MacVeagh, son of Treasury Secretary Franklin MacVeagh wrote to his father: Sony VGN-P21Z/G Battery A little matter that seems to have been overlooked by all of you is the opportunity to beautify the design of the nickel or five cent piece during your administration, and it seems to me that it would be a permanent souvenir of a most attractive sort. As possibly you are aware, it is the only coin the design of which you can change during your administration,Sony PCG-31211T Battery as I believe there is a law to the effect that the designs must not be changed oftener than every twenty-five years. I should think also it might be the coin of which the greatest numbers are in circulation. Soon afterwards, Deputy Secretary of the Treasury Abram Andrew announced that the Mint would be soliciting new designs. Sony PCG-31311T Battery Well-known sculptor James Earle Fraser approached Treasury officials, who were impressed by his proposals. Mint Director Roberts initially asked Fraser for a design featuring a bust of Lincoln, which he produced, mainly to please Roberts, but Fraser also developed a design featuring a Native American on the obverse, with an American bison on the reverse. Sony PCG-51111T Battery This design was given preliminary approval by MacVeagh on January 13, 1912, and would come to be known as the Buffalo nickel.^[30] In late June, Fraser completed the model of the final design. The specifications of the new nickel were provided to the Hobbs Manufacturing Company, a maker of vending machines, Sony PCG-81111T Battery which, following a meeting with Fraser in early November, opined that the new coins would likely jam its machines. At the company's request, Fraser prepared a revised version, but Secretary MacVeagh rejected it on the grounds that the changes compromised the design,^[31] which he greatly admired.^[32] Sony PCG-81311T Battery On December 13, 1912, Roberts warned the Mint staff to take no action in preparation for the 1913 five-cent coinage until the new designs were ready. He ended production of the Liberty Head nickel at the Philadelphia Mint the same day.^[33] A minor change was made to the Buffalo design in an attempt to satisfy the Hobbs Company, Sony VPCF138FC Battery which promptly provided a lengthy list of changes it wanted made to the coin. On February 15, 1913, with less than three weeks until he would have to leave office on the advent of the Wilson administration, McVeagh wrote to Roberts, noting that no other vending or slot machine maker had complained about the new design. Sony VPCF219FC Battery The Secretary concluded that everything possible had been done to satisfy the Hobbs Company, and ordered the new nickel put into production. The first information that a 1913 Liberty head nickel might have been struck came in December 1919, when coin dealer Samuel W. Brown placed advertisements in numismatic publications, offering to buy any such nickels. Sony VPCS135EC Battery In August 1920, Brown displayed one such coin at the annual American Numismatic Association (ANA) convention.^[34] Brown related that a master die had been prepared for the 1913 Liberty head nickels, and a few pieces had been run off to test the die.^[35] As it turned out, Brown possessed five coins, which he eventually sold. Sony VPCS136EC Battery After spending fifteen years in the hands of the eccentric Col. E.H.R. Green, the famous Fort Worth, Texas, area collector, the coins were finally dispersed in 1943. Since then, the coins have had several owners each. Today, two are on public display—at theSmithsonian Institution in Washington and the ANA's Money Museum in Colorado Springs, Sony VPCS138EC Battery while three are owned privately. The most recent sale of a 1913 Liberty Head nickel was in January 2010, when one sold for $3,737,500 in an auction.^[36] It is uncertain how the 1913 nickels came to be made. The Mint's records show no production of 1913 Liberty head nickels, and none were authorized to be made.^[37] Sony VPCS139GC Battery Dies were prepared in advance and sent to California for a 1913-S Liberty Head nickel coinage, but upon Roberts's instruction to stop coinage, they were ordered returned to Philadelphia. They were received by December 23, and were almost certainly destroyed routinely by early January.^[38] Sony VPCYA15EC Battery Brown had been an employee at the Philadelphia Mint (although this was not known until 1963) and many theories focus suspicion on him. Sony VPCYA16EC Battery,Sony VPCYA25EC Battery,Sony VPCYA26EC Battery