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Rest in Peace
 United States
1380 Posts |
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Bedrock of the Community
United States
14454 Posts |
I emailed the link to SAP because I didn't know anyone else that had a krause book but it seems the information I wanted him to give you has already been given. Thanks jgfindring, I didn't know anyone but SAP that had these books, does it show the No Cents and the With Cents in the book in the regular coinage section? I have to say, I wish everyone would make no more than a $5.00 mistake when dealing with coins they aren't familiar with but sadly thats not the case, most people loose much more before they learn their lesson
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Pillar of the Community
United States
1659 Posts |
You did fine Jaymon74. You simply paid high retail for it...no biggie! Look at it this way...at least you only thought it was worth big bucks. You didn't actually pay big bucks for it!  Edited by cwb1877
12/30/2010 10:20 pm
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Rest in Peace
United States
1380 Posts |
It only shows with cents, and it has the 1883 with out cents, no picture, included in the Shield nickels. |
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Bedrock of the Community
United States
14454 Posts |
I wasn't talking about the Shield nickel, I meant the 1883 No Cent and the 1883 with cent so he could see the difference between the two and maybe they even talk about it a little in the book so he can understand what we were trying to tell him a little better also |
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Pillar of the Community
 United States
844 Posts |
Bryan1315, It does show both types. It also shows the way it was made with both styles for the year 1883. Seems like it would've been worth more to have no cents, sense it was changed mid-year and only made one year.
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Pillar of the Community
United States
1080 Posts |
Quote:
Seems like it would've been worth more to have no cents, sense it was changed mid-year and only made one year. Even though fewer of the "no cents" were minted, they are more common and in better grade. They were hoarded following the design change. Hence, the 1883 No Cents is more common and less valuable than the 1883 With Cents. |
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Bedrock of the Community
United States
14454 Posts |
yeah I have seen more UNC No Cents 1883 Nickels than I have seen circulated examples. I guess when everyone found out they were changing the design, everyone pulled every one they could find and tucked them away thinking these would be more rare than the new design since all the other V nickels in all the other years would have the Cents on the Reverse. It kind of backfired because there was just so many hoarded and no one was putting back the ones with the new Reverse which made the one with Cents for that year more valuable in higher grades |
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Pillar of the Community
United States
4000 Posts |
I agree, $10 is no biggie.
With this coin, it's all about the history. "You're joshing me" started with this coin. A deaf mute figured out he could gold plate them and they looked just like a $5 gold piece. Not sure how long he got away with it, but they changed the design because of him.
He would go into a store, but something for a 5 cents, and hand them a gold plated nickel. In most cases the clerks just handed him $4.95 in change. He was eventually caught but not prosecuted. It was determined that since he couldn't speak, he never actually misrepresented it as a new $5 gold piece.
Edited by Scooby Due
12/31/2010 02:33 am
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Moderator
 Australia
16868 Posts |
Sorry I've arrived too late to this thread to be of much use.  Quote:
Jaymon74 said:
According to The Standard Catalog of World Coins 1801-1900 6th Edition (2010) page 1255. It list the 1883 as follows: Pn1802 1883 -5 Cents. Nickel. As others have pointed out, you were looking in the "US Patterns" section of the US listing of the catalogue. The giveaway to this was the catalogue numbers prefixed with "Pn". Quote:
Bryan1315 said:
I will tell SAP about this since he has the kraus book I think and let him give you some more information about what you are looking at in the book you have
[i]and then Jaymon74 said:
Bryan1315, It does show both types. I'm glad to hear this is actually the case for the sixth edition Krause catalogue. I only have the fourth edition, which is filled with errors and omissions. Even the US listing isn't immune to these errors: the 1892/3 Exposition commemoratives (KM# 115 and 117) are missing, as is the "no cents" or "Racketeer" nickel of 1883 (KM# 111). I only know what the KM numbers for these coins are by looking them up on NumisMaster, the Krause website. To sum up: there were a total of three circulation-type nickels struck with 1883 dates: the last year of the old Shield nickel (KM# 97, mintage 1.45 million), the "Racketeer" nickel (KM# 111, mintage 5.4 million) and the regular Liberty Head "V" nickel (KM# 112, mintage 16 million). Yours is the Racketeer type (KM# 111), the one that catalogues at the lowest price, despite not being the highest mintage. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
844 Posts |
Sap, The hoarding thing makes sense. I can see how it backfired. I'm sure situations like this are still happening today.
I admit I got a little excited when I saw what I thought was the value on that coin. I hate having my bubble burst. Guess I should pay a little more attention to the different sections of the book. Maybe I'll be able to find those half-dimes in the correct section!
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Moderator
United States
23522 Posts |
Count your blessings, Jaymon74. Your $2 lesson (IMO the amount of money you overpaid) has obviously been of just as much value to you as the same lesson taught people we've had to advise of a multi-thousand-dollar loss.
The lesson: If you don't approach coin buying methodically and with accurate knowledge beforehand, you're gonna wish you had.
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Pillar of the Community
United States
8904 Posts |
Just for everyone's edification (I know! Big word!), here are both types of 1883 V nickel reverses: No Cents:  Cents:  |
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Pillar of the Community
United States
844 Posts |
SuperDave, Multi-thousand dollar loss? Ouch! If I were to be handing over thousands, I would definitely know what I was getting! Moe145, Thank you for the illustration photos. P.S. I did find the Half Dimes. Same deal as the Nickel. Looking in the wrong area. Oops! |
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Pillar of the Community
United States
3283 Posts |
Jaymon74, Although scooby due summed it up quite nicely, I suggest you google racketeer nickel and read up on it. One of the most interesting and humorous stories in numismatic history in my opinion  |
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Posted 12/30/2010 10:16 pm
