Ebay: 1883 Liberty Nickel With Faded Gold Plating.

Here are some pics from ebay so that folks can review them here and learn once the auction comes down.

That one was either made to look like it had been in circulation or was in circulation. I doubt it's a real racketeer nickel. There are very few known actual gold plated racketeer nickels. Likely most or all sold today on ebay were coated to look like gold years later to collect or to deceive. Here is an actual one found in an archaeological dig in Deadwood SD.



Here is link to the article

https://www.smithsonianmag.com/smar...l-180961066/

Here is pic of my V nickels, one gold colored, not a true racketeer but fun to have.

That Smithsonian article had a few bloopers. Aside from using the word "printing", the Mint changed the reverse design in 1883, not 1884.

I think this Atlas Obscura article is better, although it probably still has inconsistencies:

https://www.atlasobscura.com/articl...-to-show-off

livingwater, are you saying that the ebay nickel above was plated with gold, and then intentionally weathered to appear circulated? It wasn't listed as a racketeer nickel, just an 1883 nickel, offered for $1 (plus an outrageous $4 shipping). Also, to my eye, that looks like real and old circulation wear. Could you produce that effect of high point and field wear via artificial means?

Although the Josh Tatum story dates back some decades now, there's no evidence that his story was true or that he even existed. Having owned a number of the so-called "racketeer" nickels over the years, including two with reeded edges, I've periodically researched 1880-90's newspapers.

From what I've garnered, the earliest gold-plated nickels were produced by jewelers. Fashioned as watch fobs at times, they would incur wear that's consistent with our OP's example.

During the late 1950's and into the 60's, the Josh Tatum tale became more popularized,. Coins were then being increasingly marketed as "product" and the "racketeer" nickel story gained momentum. I strongly suspect that more of these nickels were plated in the 1960's than in all years prior.

One version of the Tatum Tale is that he was blind, so he couldn't be held accountable for fraud. Also, this tale is supposedly where the saying, "I'm just joshin' ya" emanated.

While many collectors do snub their noses at these nickels, the story and history of this issue has continued to fascinate collectors and non-collectors, alike, for many decades now .... this old-timer, included!

To pass contemporaneously, it would have had to be plated almost as soon as the 1883 nickels were released. Remember how hard nickel is, a genuine Racketeer Nickel would have been plated in MS or maybe high AU state.

Spence's original coin has no appeal to me at any price.

I humbly disagree with this assessment. Many emigrants were unfamiliar with US currency and the English language. They knew what gold looked like though. The plating process was perfected by a Providence, RI silversmith around 1805. For any jeweler practicing his plating skills, post 1883, these nickels, commonplace in high grades, would serve as a handy canvas.

Consider that the late 1800's was the era of so-called love tokens. Many coins, including rare ones, were getting engraved and otherwise sacrificed to serve as trinkets. (I've owned an XF 1885 cut-out/engraved nickel and an engraved 1873-cc quarter in VF condition.) Also, jewelers busied themselves making "box dollars" out of Trade dollars and other coins, like Columbian halves that were likely sold at the exposition. Coins were being strung on bracelets and made into pins. These practices continued for many years.

Today, 140 years later, the 1883 NC nickels are exceedingly commonplace in higher grades. Yet, I've seen a number fully-plated ones in G-VG condition. Thus, these had to have much circulated prior to the plating. I strongly suspect that many of the lower grade pieces were plated in the 1960's and sold to collectors who bought into the Tatum tale. When it comes to coins, collectors tend to prefer owning ones that have a story attached to them.

I recently saw a reeded edge Racketeer sell for around $125 at auction. The original host coin was worth about $20. At what price would some crafty individual feel he could make a handsome profit in this racket?

no wonder why that first coin images here was not sold - wit hall that reverse damage..
The other plated coins would also be a no go for me..