Lot 837
1883. Without "CENTS". NGC graded Proof 67 Ultra Cameo. A glittering totally white Ultra Cameo Proof specimen. Only 5,219 struck. Pop 2; none finer.
Historic note about the No CENTS Type: In 1883 the Mint restyled the nickel five-cent piece, using on the obverse a head of Liberty said to have been inspired by the goddess Diana, and similar to the motif used on certain pattern issues since 1881. The reverse bore the denomination expressed simply as the Roman numeral V, within a wreath, a concept that seemed to be perfectly fine, for nickel three-cent pieces had III on the reverse since 1865, trimes had used III from 1851 through 1873 (at which time the denomination was discontinued), and on various patterns of the Liberty Head design in the values of cent, three cents, and five cents Roman numerals I, III, and V had been used without comment.
As things turned out, the notion was flawed, for when pieces reached circulation they were discovered to be the same diameter as the current $5 gold coin. Unscrupulous people gold plated the nickels, sometimes reeding the edges, and were successful in passing them off as $5 pieces, either immediately accepted as such or, in some instances, simply considered to be a new $5 gold design. The mint realized its mistake, and soon added the word CENTS to the design, somewhat rearranging the other letters on the reverse as well. The rumor spread that these coins would all be called in and would achieve great value, causing a mad rush to pick pieces from circulation and, in the process, creating thousands of new faces in the numismatic hobby. The ensuing years of the 1880s were one of the most active ever, with auctions conducted very frequently, new and old magazines published, and clubs and organizations experiencing unprecedented activity.
Estimated Value $2,000 - 2,200.
|
| |
| Realized $5,290 |
