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"Worthless" 1883 Nickel?

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United States
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 Posted 04/13/2021  8:02 pm Show Profile   Bookmark this topic Add NumisEd to your friends list Get a Link to this Message
Yesterday, I went to a LCS to see if could sell a couple of unwanted coins (instead of using eBay all the time).
To my surprise, the 1883 "No Cents" Nickel I showed was dismissed as "worthless" as "they made them by the millions" and "I sell them in bags wholesale". Suffice to say, I was very disappointed and left the shop.
What do you think? Is my coin "worthless"? And what should I do with it?


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 Posted 04/13/2021  8:19 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
While the V nickels are my favorite of the Barber coinage the 1883 No Cents is widely available. A few months back I picked one in comparable condition to yours for around $12, but the dealer had about 10 more all around the same price. It's sadly not as collectible as the IHC or LWC. I in no way think that your coin is worthless,

For coins that have minimal value (under $20) many times I give them to a fellow collector. I gave away my last 2 No Cent nickels to my hairdresser and another to my brother in law. I'm actually looking for 1 for my daughters boyfriend. (Just saying).
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 Posted 04/13/2021  8:25 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
Coins also made by the millions, 1883-S Morgans. And I don't think anyone would say an 83-S Morgan is worthless
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 Posted 04/13/2021  8:27 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
Well, at least the price of silver bullion puts a floor under a Morgan dollar.
You think I should drop the coin in a Salvation Army kettle?
Edited by NumisEd
04/13/2021 8:28 pm
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United States
9678 Posts
 Posted 04/13/2021  9:12 pm  Show Profile   Bookmark this reply Add dave700x to your friends list Get a Link to this Reply
Put it up for adoption. I'm sure one of the YN members would love to have it...
1883-O Nut
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 Posted 04/13/2021  9:20 pm  Show Profile   Bookmark this reply Add Ty2020b to your friends list Get a Link to this Reply
good idea!

I'm sure there's a number of new members that may not have one that would appreciate it. It's certainly not worthless
Edited by Ty2020b
04/13/2021 9:20 pm
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 Posted 04/13/2021  9:22 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply
It's worth $5-7. What dealer said it had no value?
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 Posted 04/13/2021  9:37 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply

Quote:
It's worth $5-7. What dealer said it had no value?


No value? Worth at least 5 cents!

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 Posted 04/13/2021  10:22 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
I agree to 5-7$ value .
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 Posted 04/13/2021  10:27 pm  Show Profile   Bookmark this reply Add jpbone to your friends list Get a Link to this Reply
To add a different perspective if I may.

If you have 14 of these coins and find it difficult to sell them, you probably would not be interested in having a 15th. To say it is worthless isn't fair, but to that dealer, it probably was worthless. Businesses buy items they can turn a profit on. No Cent nickels are not one of these items. He probably would have offended you if he offered $2, so he chose to offend you by saying it is worthless instead. Kind of ignorant of him to do...
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 Posted 04/13/2021  10:30 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
The dealer already has more than enough for his inventory.
Thus, if he buys this coin off you, the money he has paid may take months or even years to recover for a profit in a subsequent sale. Cash flow is the lifeblood of his business.

Some collectors just keep on collecting with no intention of selling. I am one of them.
Where I have many duplicates of some significant value, I just group them all in a secondary lower valued collection. Eventually, the secondary collection will be eBay'ed or sold as a single job lot, or offered as a job lot at public auction.

Coin pictured does indeed have some significant value to a collector who wants it.
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 Posted 04/13/2021  10:31 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
$5 or so seems fair.
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 Posted 04/13/2021  10:45 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
They should have made these coins of silver. Then at least you could have gotten melt value for it.
So, Moral of the Story: never ever collect nickels and other base metal coins that are too common. If you must collect common coins, stick with gold and silver.
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 Posted 04/13/2021  11:16 pm  Show Profile   Bookmark this reply Add NumisEd to your friends list Get a Link to this Reply
I could throw this one in the trash can as well...
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 Posted 04/13/2021  11:23 pm  Show Profile   Check GrapeCollects's eBay Listings Bookmark this reply Add GrapeCollects to your friends list Get a Link to this Reply

Quote:
They should have made these coins of silver. Then at least you could have gotten melt value for it.
So, Moral of the Story: never ever collect nickels and other base metal coins that are too common. If you must collect common coins, stick with gold and silver. I could throw this one in the trash can as well...


That's really not the point here. Sorry Ed, you sound way to emotional on this one. I'm with you that the dealer was being crass, but I own many common base metal coins, and like them all! Collect what you like, not what someone else tells you is or isn't collectable. People collect bus tokens, I don't think that's interesting, but some people do.
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United States
138 Posts
 Posted 04/14/2021  12:44 am  Show Profile   Bookmark this reply Add Reedbeard08 to your friends list Get a Link to this Reply
Whether with or without cents, that's a 140 year old coin in pretty nice condition - not sure who deemed it worthless, I'm thinking at least $5 :)
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