Racketeer Nickel

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Racketeer Nickel

Price: $ 24.95 SKU: 7X94

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Description

The 1883 “Racketeer” Nickel is one of America’s most legendary and scandalous coins.  When the first Liberty Nickel was minted in 1883, the word “Cents” did not appear anywhere on the coin.  Instead, there was a large “V” (Roman number “5”) in the center of the reverse, within a wreath of cotton, corn, wheat, and tobacco.  Unfortunately, the coin is almost identical in size to the $5 gold coin that circulated at the time.

Con-men gold-plated the Liberty Head Nickels and passed them off as “new” $5 gold coins.  The U.S. Mint soon stopped the corruption by adding the word “Cents” to the design in 1883.  Only about 25 percent of the first-year 1883 coins are the “No Cents” variety.

The obverse of the Liberty Head Nickel features a portrait of Lady Liberty.  The 13 stars surrounding the portrait represent the 13 original American states.  This coin is the seldom-seen 1883 “No Cents” Liberty Head Nickel.  It is known as the “Racketeer” Nickel.

The total mintage of the 1883 “No Cents” coin was less than one day’s production of modern Nickels.  Most coins were damaged or worn out in circulation, leaving few for today’s collectors.  Each coin is plated in 7 mils of pure 24 karat gold, just like the original scandalous “Racketeer” Nickels.