"Moments at the Mint" is a series focusing on the intersection of important moments in U.S. history with the work of the United States Mint. In this video, they explore how the discovery of precious metals influenced current and historic Mint locations across the U.S.
The history of the nickel coin dates back to the 19th century, when it was first introduced in the United States. Over the years, the nickel coin has featured a variety of designs. Including the Shield nickel, the Liberty Head nickel, the Buffalo and the Jefferson nickels of today.
Today, nickel coins continue to be an essential part of the U.S. modern currency system, providing a low-value denomination for use in everyday transactions.
Nickel Three Cent Pieces (1865-1889)
Today, nickel coins in the U.S. are synonymous with five cent pieces, But you may be surprised to learn that wasn't always the case.
America's first nickel coins actually had a face value of three cents. Hoarding of silver coins after the Civil War caused shortages. So in 1865, the U.S. Mint introduced nickel three cent coins as an alternative to silver three cent pieces (known as "trimes").
The denomination was minted in both silver and nickel from 1865-1873. However, the nickel coins were easily recognized from their silver counterparts. Their reverse was similar, with a Roman numeral III for the denomination. But while silver trimes bore a star on their obverse, the obverse of three cent nickel coins depicted Liberty
Shield Nickels, 1866-1883
The history of 5¢ "nickels" begins with the Shield nickel. It was introduced in 1866 because silver half dimes – like all silver coins – were hoarded following the Civil War.
The Shield nickels of 1866-1883 were struck in 25% nickel and 75% copper – the same composition used today. These nickel coins featured a Union Shield on the obverse, which was a symbol of unity commonly used during the Civil War era.
During 1866 and early 1867, the large numeral "5" on the reverse was surrounded by alternating rays and stars. These short-lived Shield nickels "With Rays" were replaced during 1867 by the "Without Rays" variety, which continued for the rest of the series.
Liberty Head "V" Nickels, 1883-1913
During the year 1883, the design of America's 5¢ nickels was changed to the now-famous Liberty Head nickel motif by U.S. Mint Chief Engraver Charles Barber. Liberty is seen on the obverse with a coronet inscribed LIBERTY.
These coins are commonly known as "V" nickels because the reverse featured a large Roman numeral V (5) for the denomination.
Some 1883 Liberty Head nickels were gold-plated by individuals who were trying to deceive others by passing them off as $5 gold coins. This was possible because the word "CENTS" was omitted on the reverse side of the nickel coin and the size of the coin was similar to that of Liberty Head $5 gold coins of the time.
The most infamous of these racketeers was Josh Tatum. A deaf mute, he was caught but never convicted because he apparently never claimed the coins were anything other than nickels. He simply accepted whatever change he received (from 5¢ or $5).
Something had to be done. So after some 5.5 million coins were struck, the U.S. Mint added the word CENTS below the Roman numeral "V" on the reverse of the Liberty "V" nickels.
An equally interesting event occurred at the end of the series, when five unauthorized 1913 Liberty Head nickels were struck by some mint insider (no other 1913 Liberty nickels were produced). These extremely rare "V" nickels are among the most legendary of all U.S. coins.
Buffalo Nickels, 1913-1938
The Buffalo nickel – also known as the Indian Head nickel – showcases an American motif designed by renowned sculptor James Earle Fraser.
During the early 20th century, most circulating U.S. coins received new designs that were highly acclaimed and influenced by President Theodore Roosevelt, who served from 1901-1909. And the nickel was no exception.
Fraser's new design was an instant classic, due in large part to its distinctly American motif. The obverse displays a portrait of a proud Native American chief, while the reverse features an American bison (often called a buffalo).
When introduced in 1913, the buffalo stood on a raised mound inscribed with FIVE CENTS (Type 1). But the raised mound caused the inscription to wear off quickly. So the design was changed midway through 1913 to protect the words FIVE CENTS by placing them in a recessed area below the buffalo (Type 2).
These revered U.S. nickel coins were struck until 1938 in very modest quantities compared to modern nickel mintages.
Jefferson Nickels, 1938-Present
Thomas Jefferson, author of the Declaration of Independence, is featured on the Jefferson nickel.
In 1938, the design of nickels was changed after 25 years of featuring the Buffalo motif. The new design showcased the profile of Thomas Jefferson, primary author of the Declaration of Independence and 3rd U.S. president who significantly expanded the country with the Louisiana Purchase in 1803.
His Virginia home Monticello was depicted on the reverse.
From mid-1942 to 1945 during World War II, Jefferson nickel coins were produced using a special silver alloy to conserve nickel for the war effort. These silver wartime issues are easily recognized by their larger mint mark, which appears on the reverse above Monticello.
Aside from this, the design remained unchanged for over 65 years. In 2004, special designs were introduced to commemorate the bicentennial of the 1804-1806 Lewis & Clark Expedition – authorized by President Jefferson to explore the vast, newly acquired Louisiana Purchase.
The "Peace Medal" and "Keelboat" reverse designs were minted exclusively in 2004. In 2005, they were followed by the "American Bison" and "Ocean in View" issues – both of which bore a new obverse design showed a close-up portrait of Jefferson.
In 2006, the nickel's design changed yet again. For the obverse, a new forward-facing portrait of Jefferson was introduced. While the reverse changed to once more feature Jefferson's home, Monticello. This design remains in use today. Source
Embarking on the journey of watch collecting is a fascinating venture that transcends the mere measurement of time; it's an exploration of craftsmanship, design, and personal style. For beginners, the world of horology might seem vast and intricate, but fear not, as this guide aims to illuminate the path to building and maintaining a watch collection.
1. Define Your Style and Purpose
Before delving into the multitude of watches available, take a moment to consider your personal style and the purpose behind your collection. Are you drawn to classic elegance, modern minimalism, or robust sports watches? Understanding your preferences will guide your choices and make your collection more cohesive.
2. Set a Budget
Watch collecting can be as affordable or extravagant as you make it. Define a realistic budget that aligns with your financial comfort. Fortunately, the market offers a variety of watches at different price points, making it accessible to collectors with diverse budgets.
3. Learn the Basics of Watch Movements
Understanding the different types of watch movements is crucial for any collector. Watches typically fall into three categories: quartz, automatic, and manual. Quartz watches are powered by a battery, automatic watches are self-winding, and manual watches require regular winding. Knowing the distinctions will help you make informed choices based on your preferences.
4. Research Iconic Brands and Models
Immerse yourself in the world of horological history by researching iconic watch brands and models. Familiarize yourself with the craftsmanship, history, and distinct features that set each brand apart. Whether it's the timeless elegance of Rolex, the innovation of Omega, or the avant-garde designs of Audemars Piguet, each brand has its unique story to tell.
5. Start with Versatile Pieces
For beginners, it's wise to start with versatile and timeless pieces that can be worn in various settings. A classic dress watch or a versatile sports watch can serve as a cornerstone for your collection, complementing different outfits and occasions.
6. Connect with the Watch Community
Watch collecting is a communal experience. Engage with fellow enthusiasts, both online and offline. Attend watch events, join forums, and participate in discussions. Learning from seasoned collectors and sharing your experiences will enhance your journey and provide valuable insights into the world of watches.
7. Embrace the Journey
Watch collecting is not a race; it's a journey. As your collection grows, each watch will carry memories and stories. Whether it's a watch handed down through generations, a milestone purchase, or a timepiece you assembled with your own hands, every watch adds a layer to your unique narrative.
Starting a watch collection is a delightful endeavor that combines passion, aesthetics, and a sense of history. It's a journey of self-discovery and appreciation for the craftsmanship that goes into each tick. Source
The long-held view that coin collecting began with the Italian Renaissance has been challenged by evidence that the activity is even more venerable. Suetonius (ad 69–122) relates in his De vita Caesarum (Lives of the Caesars; Augustus 75) that the emperor Augustus was fond of old and foreign coins and gave them as gifts to his friends. In addition to this account and a variety of other literary accounts of collecting from Greek and Roman sources, there is tangible archaeological evidence that coins have been collected at least from the Roman era and probably for as long as they have existed. For example, a hoard of some 70 Roman gold coins found at Vidy, Switzerland, did not contain any two specimens of the same type, which implies that the coins were collected during the period of Roman rule in that town.
The broader field of art collecting, for which specific and reliable accounts do exist, began in the 4th or 3rd century bc. Since coins of that period are universally recognized as works of art, and since they were among the most affordable and transportable objects of the art world, it is not surprising that they would have been collected even then. Certainly, they were appreciated for more than their value as currency, because they were often used in jewelry and decorative arts of the period.
During the reign of Trajanus Decius (ad 249–251), the Roman mint issued a series of coins commemorating all of the deified emperors from Augustus through Severus Alexander. The designs on these coins replicated those of coins issued by the honoured rulers—some of the original coins being nearly 300 years old by that time. It would have been necessary for the mint to have examples of the coins to use as prototypes, and it is hard to see such an assemblage as anything but a collection. In ad 805 Charlemagne issued a series of coins that very closely resemble the style and subject matter of Roman Imperial issues—another example of collected coins providing inspiration for die engravers of a later era. The Nestorian scholars and artisans who served the princes of the Jazira (Mesopotamia, now Iraq, Syria, and Turkey) in the 12th and 13th centuries designed a magnificent series of coins with motifs based on ancient Greek and Roman issues. Some of these so accurately render the details of the originals that even the inscriptions are faithfully repeated. Others were modified in intriguing ways. The only difference, for example, between the reverse of a Byzantine coin of Romanus III and its Islamic copy is that the cross has been removed from the emperor’s orb in deference to Muslim sensibilities. The great variety and the sophisticated use of these images reveal the existence of well-studied collections. The eminent French numismatist Ernest Babelon, in his 1901 work Traité des monnaies Grecques et Romaines, refers to a manuscript dating to 1274, Thesaurus magnus in medalis auri optimi, which recorded a formal collection of ancient coins at a monastery in Padua, Italy. Petrarch (1304–1374), the famed humanist of the Italian Renaissance, formed a notably scientific and artistic collection of ancient coins. Source
The main difference between coin collecting before and after the Renaissance is the development of an active market. With the new wave of interest, demand for antique coins greatly exceeded the available supply. During the 15th and 16th centuries, ancient-coin collecting became the “hobby of kings,” and the list of collectors is a list of European nobility. At the same time, famous artists were employed by these patrons to create replicas of ancient coins and portrait or commemorative medals, which became collectible in their own right. The appetite of collectors fueled a cottage industry of agents and prompted a search of source lands for salable artifacts. As might be expected, the insatiable market created such demand that it also fostered the introduction of forgeries.
By the 17th century, the nature of collecting had shifted slowly toward serious research. As a result, very broad collections were formed, studied, and cataloged. Numismatics became an academic pursuit, and many important treatises were published during that period. The involvement of institutions and the rise of public collections in the 18th century led to sponsorship of academic study, which elevated numismatics to the stature of a science. Most important, the exchange of information and new discoveries was formalized through detailed and widely published treatises on the topic of coins and collecting. Many of the large private collections of noble families came under state control during this period, and the subsequent cataloging of these holdings added volumes to existing knowledge. This information was readily available to the general public, and coin collecting became a pursuit of middle-class merchants and members of the various professions who were growing in numbers as well as cultural sophistication. Collecting ancient coins is one of the few ways that the average person can own actual objects from antiquity, and this point was not lost on the growing collector base. Coins are remarkably accessible pieces of history. Source
Following the checklist below is encouraged when buying or selling gold or silver bullion coins;
1. The reputation and expertise of your bullion dealer is important.
Your dealer needs to be a respected name in the industry with experience buying and selling bullion in fluctuating markets. ANA dealers must adhere to a strict code of ethics.
2. Know the actual cost per ounce of precious metals.
Gold, silver, and platinum prices fluctuate daily, so check that day’s spot price prior to making a transaction. Expect to pay a higher percentage over melt value for fractional gold pieces (1/10th, 1/4th, and 1/2 ounce) than for one-ounce pieces. Also, American Eagle and Canadian Maple Leaf bullion coins typically have a higher retail price than South African Kruggerrand bullion coins.
3. Understand the fees and/or commissions involved.
According to the Professional Numismatists Guild, the average retail commission for one-ounce American Eagle or Maple Leaf gold coins is about five or six percent.
4. Arrange for timely delivery.
If immediate delivery is not possible, obtain from the seller in writing specific confirmation about the delivery date. Only then should you execute your order.
5. Know that all investments come with risks.
If you intend to buy bullion coins for investment purposes, your best protection is to spend time learning about the coins before you buy them. Uninformed buyers who make hasty purchases often overpay. Like any investment, there are no guarantees – and no one can predict with certainty that gold and silver prices will remain at the current levels or continue to appreciate.
6. Protect against identity theft.
Do not give out credit card numbers or bank account numbers or other private information such as Social Security numbers over the phone to anyone not known to you. Source
