Budget Recommendations: Build a date set 1866-1883 in G-4 to VG-8 grade. If you include the Proof-only 1877 and 1878 years, buy impaired Proofs.

Recommendations for the Connoisseur: MS-63 and MS-64, Proof-63 and Proof-64 coins are good buys. Select pieces with excellent aesthetic appeal. An attractive Proof-63 Shield nickel can be more pleasing than a stained Proof-65. In MS-63 and MS-64 grades the 1867 With Rays nickel is especially undervalued.

Elite Recommendations: Pick either MS-65 or Proof-65 and build a nicely matched date set. The MS-65 set will be quite a challenge, especially if you pick sharply struck coins. The Proof 1867 With Rays is a major rarity in a complete Proof set.

Liberty Head Nickels (1883-1913)

In 1883 the Liberty Head nickel made its appearance. Designed by Charles E. Barber, the first pieces struck had the denomination on the reverse expressed simply by the Roman numeral V. Unscrupulous individuals gold plated them and passed them off as $5 gold pieces of similar diameter. The government realized its mistake, and the design was corrected to add the word CENTS below the V. A popular speculation arose when the design error was publicized, and 1883 without CENTS nickels were hoarded in large quantities, a situation which resulted in their being common to this day.

From late 1883 through 1912, Liberty nickels with CENTS were minted continuously, both as Proofs and business strikes. A rarity was created in 1885, when the business strike mintage dropped to slightly over 1.4 million, a tiny fraction of what it had been in earlier years. The next year, 1886, saw a production of only 3.3 million, thus also creating a scarce issue. In 1912, Liberty nickels were struck at branch mints for the first time. The 1912-D and 1912-S were both produced in relatively low quantities for the period, with the 1912-S registering just 238,000 coins.

As Proofs were made continuously for collectors, numismatists desiring top grade specimens today can obtain Proof examples without difficulty, although Proof-64 and Proof-65 pieces are scarcer than lower grades and may take some time to find, especially if pieces with a high degree of aesthetic appeal are desired. Business strikes are also readily available for most issues, with dates from 1897 through 1912 being the easiest to find. Among earlier issues, the 1885 and 1886 in MS-65 grade are quite rare, much more so than with Proof finish. Putting together a set of top grade business strikes can be a challenge.