V Nickels Collection, Whats It Worth?

Welcome to Coin Community, cwad20. The best answer to your question is, "Probably, but it depends."

That's an average of $23/coin. The 1885, 1886 and 1912-S cannot be had in Good for less than, say, half of the price you're paying just for them. As long as the coins are in reasonable original condition, it's a pretty decent deal especially if it's something you would collect otherwise or are looking to flip individually.

Not so clear if the coins are cruddy, though.

I would say the two 86's and 1912s are solid good condition. The one that worries me is the 85, as it almost looks like someone tried cleaning it w a cleaner or something based off how shiny yet worn it is.

The 1885 is the coin that will make or break this deal.
If you look at it, and think it has problems then it
most likely does.

If it helps here is the current greysheet bid prices.

1885 good $360, very good $500
1886 good $215, very good $250
1912 S good $110, very good $145

A dealer would pay back of these prices, and try to sell for a little over.
For a problem coin a dealer would pay a lot less.

I Wish I can see close up photos of this collection. $700 might not be such a great price. you don't want any problem coins ,cleaned coins ,or very dark coins. good honest wear is ok.

If offered to a dealer, the three dates mentioned: 1885, 1886 and 1912-S, would be examined almost to the exclusion of the others. The comments above are in line with this assessment.
Your observation of the 1885 alone is reason to be very cautious, if not outright passing on the deal.
Without seeing the coins I'd say rely upon your instincts.
There are often 'complete' sets offered on ebay and those three dates are often lacking in appeal.
Even an honest '85 in AG is preferable to a Good that has been cleaned.
And many "V" nickels have been cleaned over the years.