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 Replies: 19 / Views: 4,183 |
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Valued Member
United States
187 Posts |
Why is the 1883 no cents nickel valued so much less than the 1883 with cents. I sent a 1883 nickel with some other coins out for grading. The 1883 nickel looked close to Unc. It came back as AU53 [no cents]. I thought that was real good, and that it should have a good value. When I looked it up, I missed the line in the book for the [no cents] nickel, and only saw the [with cents] values. After double checking I was very surprised and disappointed. The [no cents] nickel has one third of the mintage, but less than one quarter of the value of the [with cents] nickel. Just seems like it should be the opposite. Any information would be helpful. Thanks.
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Pillar of the Community
United Kingdom
1682 Posts |
I believe that 1883 no cents nickel was saved while the 1883 with cents was not and thus there are less of the 1883 with cents in the better grades than there are the 1883 no cents.
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Moderator
 United States
23522 Posts |
I think it's a function of some pretty serious hoarding when they were issued. A first-year design and the almost-instant appearance of "Racketeer" nickels conspired to make them pretty famous. As a result, a disproportionately large quantity of them survived.
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Pillar of the Community
861 Posts |
The 1883 (no cents) was issued 1st. There was a famous thief named Josh that was plating these nickels in Gold and passing them off as $5 Gold pieces. The saying "no Joshing", actually came from him...no Joshing. Later that year, they added the word "cents" to stop this crime.
*footnote* Josh was deaf and dumb
Corrected by GR58-Thanks
Edited by g048406
12/22/2012 8:54 pm
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Pillar of the Community
Israel
2420 Posts |
After the design have changed to include the "CENTS" word in it, rumors spread about confiscation of the no cents variety. This led to massive hoarding of the coin, assuming the ones left would soar in price. Ironically, this have led to a high survival rate, with many at higher grades  . |
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Moderator
United States
23522 Posts |
Quote:
After the design have changed to include the "CENTS" word in it, rumors spread about confiscation of the no cents variety.
This led to massive hoarding of the coin, assuming the ones left would soar in price. That makes a lot of sense. |
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Bedrock of the Community
United States
11951 Posts |
Having read the story on Josh Tatum over the years, I remember him being a deaf mute. Did a quick search and came up with this link http://www.coinsite.com/content/faq...erNickel.aspIf accurate it states he got off because he could not speak, so never told the merchants the he had a five dollar coin. This is the first I remember reading that his coins had a "hand reeded" edge and gold plated. Of course sometimes it is hard to get the true details of any story in our modern internet age. But I do agree the odd coin always seems to be saved more often. Other examples .. 1943 steel Lincoln Cent and bicentenial coins from 1975 and 1976. When coins are saved at such a volume they end up having much less value. Edited by GR58
12/22/2012 8:37 pm
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Pillar of the Community
861 Posts |
I had heard the story some 20 years ago. I knew he had some handicap. That's what happens when you go by old memories. Now, if I could only remember where I left my money and my wife........ Oh, now I remember, they both ran away together.
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Moderator
United States
15419 Posts |
Agreed with all the above ... larger mintage but many more saved by collectors (hoarders) of the day. Quote:
After double checking I was very surprised and disappointed I humbly suggest that if you choose to submit a coin to a TPG ... you should at a minimum do enough research to know what you are submitting. The CCF remains a great resource ... we could have given you better advise. David Take a look at my other hobby ... http://www.jk-dk.art |
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Valued Member
United States
207 Posts |
Cool story, thanks for the trivia
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Pillar of the Community
United States
615 Posts |
Quote:
That makes a lot of sense. Booooooo. Not very punny sah! |
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Valued Member
United States
271 Posts |
Everybody collected the no cents even tried to turn it into a gold five dollar piece, the with cents was not horded went through circulation like all coins and that makes the coin much harder to get today. The 1883 no cent nickel is one of the cheapest MS V nickels on the market. I actually have one that someone took the time and gave it a reeded edge. |
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Pillar of the Community
United States
3283 Posts |
Quote:
Now, if I could only remember where I left my money and my wife........ Oh, now I remember, they both ran away together.  Very funny, I'll be using that one Edited by upstate
12/22/2012 11:32 pm
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Bedrock of the Community
United States
17884 Posts |
Quote:
There was a famous thief named Josh that was plating these nickels in Gold and passing them off as $5 Gold pieces. The saying "no Joshing", actually came from him...no Joshing. The Josh Tatum story is a nice story, but that is all it is a story. There is no evidence a Josh Tatum ever existed, there is no record anywhere of a Josh Tatum being tried for passing plated coins. And the story about it being the source of the term Joshing is also wrong. The term joshing or to josh meaning to trick or fool dates for the 1830's, long before the 1883 NC nickel. |
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Pillar of the Community
United States
3486 Posts |
I have been told that both reeded and unreeded gold plated examples exist of the no cents variety. Mine has no reeding. However,the gold wash is worn away on the higher parts of the coin. The "modern" examples, from the late 60s into the 70s are completely gold washed and show no signs of having actually circulated. Yet another numismatic mystery.   |
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Pillar of the Community
861 Posts |
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Replies: 19 / Views: 4,183 |
Posted 12/22/2012 4:24 pm
