1894 5C MS65 Certification #07422661, PCGS #3855

CAC 0743 (Regency 37, March 2020, lot #95). “If you are someone who has been collecting Liberty Head nickels for a while, you will appreciate the WONDERFUL quality of this date run offered in this sale. Think of how many frogs you have discarded due to ugly toning, milk spots, bagmarks, etc, to get to the prince (or in this case PRINCESS). This piece is the CAT’S MEOW of 1894 nickels! It has everything going for it! Stunning luster is enhanced by beautiful cascading color in shades of rose, ice blue, tangerine and lemon yellow. Crisp, fully struck motifs. One small break in luster to the right of the lower portion of the V is all that is worth mentioning. PCGS 60; NGC 51, CAC 16. Of the 16 CAC specimens, I cannot imagine they are any nicer than this example! One sold in March 2019 for $1,140 and we think this coin should bring more! Bid liberally if you want to add this beauty to your set!“

Ron Guth

In 1894, the mintage for Liberty Head Nickels dropped dramatically from the year before, to the lowest level since 1886.  In practice, the reduced mintage had very little to do with the number and quality of survivors.  For example, the total population of Mint State 1894 Nickels is only slightly less than other, more common dates, but the number of MS66 survivors is higher than any previous year except 1883.  Despite this glaring contradiction, price guides continue to favor this date, indicating a preference for mintage over survivorship -- one of the interesting anomalies in numismatics.

It is very difficult to find a Liberty Head Nickel with the first two stars on the lower left that are not nearly or completely flat.  Sometimes other stars are weakly struck, as well, and Uncirculated examples are known with all stars flat.  Clearly, the more desirable examples will feature a full strike, but collectors do not yet demand this from their Nickels.