Lot 1002
1883. Without "CENTS". PCGS graded Proof 66 Cameo. CAC Approved. Only 5,219 minted. A bright glittering gem with a hint of light gold toning on the reverse. Pop 76; 19 finer, 6 in 66+, 13 in 67 (PCGS # 83878) .
Note: A humorous story is associated with the first Liberty Nickel issue of 1883. Mint Engraver Charles E. Barber designed the coin and made working hubs and dies, from which came almost 5.5 million 1883 No CENTS coins. At which point, as Herman Melville put it, "the whole powder train went up." People noticed that the coins had no mention of CENTS, and began saving these "mistake" Nickels on the correct assumption that the design would be changed to incorporate the necessary word. (Unsurprisingly, they are still plentiful in high grades, mostly VF to AU.) But worse was to follow.
According to the Breen encyclopedia, "Unscrupulous persons reeded the edges of many of these coins, gold plated them, and palmed them off on the unwary as new $5 gold pieces. At least one famous court case reportedly involved a deaf-mute, Josh Tatum, who did the actual "shoving" so that his victims could never testify under oath that he had called the coins anything whatever. Thousands of the original "Racketeer" nickels, with partly rubbed-off gold wash, survive today; many with reeded edges, some with plain. Other parties, aiming at coin collectors, have within the last 30 years gilt ordinary centless nickels and sold them as 'Racketeer' coins, thereby exposing themselves to this epithet, but doubtless crying all the way to the bank.".
Estimated Value $800 - 900.
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