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Just A Liberty Nickel Observation

 
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Author Previous TopicReplies: 8 / Views: 305Next Topic  
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 Posted 08/03/2020  10:56 am Show Profile   Bookmark this topic Add USSID18 to your friends list Get a Link to this Message
I've been looking at many Liberty nickel sets here and on-line over the past few months. Have you guys noticed that many folks have AU or better 1883 "NO CENTS" in their collections? The first coin in many albums, in many cases (not all) seems to be a BU coin with tons of original mint luster.

I'm wondering why. I know they are reasonably inexpensive in AU or MS condition. Maybe $60 in MS-63. There were only 5.5 million minted.

Compared to the 1883 "WITH CENTS", there were "3 times" (16 million) as many minted... and the price 3 or 4 times "higher" then the 1883 "NO CENTS" in MS-63.

Can someone explain that to me?

Here's a visual picture of what I'm talking about.


Edited by USSID18
08/03/2020 11:00 am
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 Posted 08/03/2020  11:00 am  Show Profile   Bookmark this reply Add Alpha2814 to your friends list Get a Link to this Reply
Ref https://libertynickel.net/1883-libe...thout-cents/ and https://libertynickel.net/1883-libe...-with-cents/


Quote:
The total mintage of the 1883 Liberty nickel Without CENTS was 5,474,300 pieces struck for circulation at the Philadelphia Mint. The peculiar stories about this issue resulted in quantities of the "without CENTS" variety to be retracted from circulation and saved by the public. As a result, these coins remain readily available to collectors in the present day, even in uncirculated condition.



Quote:
The 1883 Liberty nickel with CENTS had a total minted for circulation of 16,026,200, which was more than triple the mintage for the "without CENTS" variety. Nonetheless it is actually the "with CENTS" variety that is scarcest for present day collectors. This is because a large number of examples from the initial variety were hoarded by the public, while far fewer examples of the latter variety were saved.
Working on: Indian quarter eagles, Chinese pandas, and San Francisco tokens; upgrading my Peace dollar and US Type sets

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 Posted 08/03/2020  11:03 am  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
That nails it - widespread hoarding.
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 Posted 08/03/2020  11:13 am  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
Similar situation with the low mintage (compared to rest of the series) 1950-D Nickel. They were hoarded by the roll when word got out about the mintage.
1883-O Nut
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 Posted 08/03/2020  11:13 am  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply
Oh, GOT IT!! The 1883 "WITH CENTS" were saved and hoarded. Probably because of the racketeer nickel thing going on back then. That's why there are so many in AU or better condition!





Alpha2814
Edited by USSID18
08/03/2020 11:14 am
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 Posted 08/05/2020  08:51 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
AND the Nickel is just not the most popular coin so many are in great shape.
just carl
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 Posted 08/05/2020  09:31 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply

Quote:
AND the Nickel is just not the most popular coin so many are in great shape.

This is irrelevant to the OP's observation and question. The correct answer was provided above.

Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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 Posted 08/05/2020  10:42 am  Show Profile   Bookmark this reply Add USSID18 to your friends list Get a Link to this Reply

Quote:
AND the Nickel is just not the most popular coin so many are in great shape.


It's popular if you need one for your set.
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 Posted 08/05/2020  11:39 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
It's popular if you need one for your set.
Cannot argue with that.
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