Thing is, it's 10k gold plate...is it a real one....
The scam only worked for a short period in 1883, before the story got into the newspapers and before "cents" was added to the reverse. All original "racketeer nickels" were unc or nearly so when plated because they were all made within weeks or, at most, months of release. So if the coin is worn, the gold plating should be worn through on the high points like the piece below. Some of the best examples actually have machined "reeding" on the edge! There are surely some high-grade fully-plated pieces that survived because they were set aside as curiosities but the majority were returned to circulation as nickels. Most "unc" fully-plated examples and all
worn but fully-plated pieces are modern reproductions. I sold this one for $15 a couple of years ago. Now I kinda wish I hadn't.
Edited by Kushanshah
06/13/2018 02:33 am