| The nickel is not something one gives a great deal | | | | pennies, were not the only nickel coins made by |
| of thought. Rarely the stuff of animated | | | | the US Mint. There were also a whole series of |
| conversation, our little noticed five cent coin has | | | | three cent nickel coins made just after the Civil |
| lately come under scrutiny of the government | | | | War to replace the small, tattered fractional |
| bean counters. | | | | currency notes printed and circulated during the |
| The nickel has been found to be UNPROFITABLE. | | | | hostilities. |
| It costs the mint more than a nickel to make one. | | | | 4. The Liberty Head Nickel series, struck from |
| And it takes a lot more than one cent to make a | | | | 1883 to 1912, was touched by scandal at its |
| penny. But though the penny may well disappear | | | | beginning and end. The first coins of 1883 did not |
| from the US coinage lineup, this is less likely for | | | | have the word CENTS anywhere on the coin. The |
| the nickel. Would the public really allow prices to | | | | large Roman numeral V (for the number five) |
| round up to the next dime? | | | | was thought to be sufficient to indicate the value |
| And besides, the US nickel has had a fascinating | | | | of the coin. However, a nickel is almost the same |
| history. At minimum, pretty darn interesting, | | | | size as a five dollar gold piece, which is also |
| especially if you are a coin collector. | | | | adorned with a Liberty head. Soon unscrupulous |
| Here are some fine points. | | | | opportunists were gold plating the new nickels and |
| | | | passing them off as five dollar gold pieces. Just |
| 1. The first American nickel was NOT a five cent | | | | before the Liberty Head nickel series was |
| coin. In fact, it was a penny. First struck in 1856, | | | | replaced in 1913, some enterprising, though less |
| the nickel one cent coin was actually called a nickel | | | | than honest, mint workers ran off five specimens |
| by the public because that was the metal used in | | | | of the Liberty Head nickel dated 1913, now |
| its fabrication. The coin was alloyed with copper, | | | | among the most valuable of American coins. |
| but was of a pale whitish color. Sometimes these | | | | 5. And the term Plug Nickel? It is another way of |
| pennies were called white cents. | | | | saying worthless. Coins made of silver and gold |
| 2. The first five cent coin was NOT a nickel. It | | | | were sometimes altered by cheaters who |
| was a tiny silver five cent coin known as a half | | | | installed a lead plug into the center of coin, saving |
| dime. In fact, the half dime of 1792 was the first | | | | the precious metal removed for themselves. The |
| US coin authorized by Congress, and reputedly | | | | coin so altered was worth substantially less. As |
| was made from silver from the George | | | | the nickel was not made of valuable material to |
| Washington household. This last bit is somewhat | | | | begin with, to say something was worth not a |
| controversial, but in the mean time the story has | | | | plugged nickel was to say it was worth not much |
| become something of a legend. | | | | at all. |
| 3. The five cent nickel, and those first nickel alloy | | | | |