History of The Nickel Coin

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.

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.

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 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).

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.