1883 victory nickel

Gentlemen,
I have a friend that showed me a 1883 " no cents" today that he picked up from a dealer, this coin is MS60 and I agree with him about the grade. When I asked him how much he paid for it he said $35.00 I told him he paid to much for it even though it is a MS-60 coin I said $25.00 would be a fair price to pay for this coin .
So we have a dinner bet on who is right we both agree it is a MS-60 liberty nickel did he pay to much or not.

Bruce "THE FRANK GROUP"

 

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19-21 dollars is the absolutely maximum to pay for such an 1883 nc nickel in ms-60. An ms-63 would be worth 35 dollars.

 

Even the PCGS site list MS60 at $27.

 

They are fairly plentiful in higher grades, as they were hoarded due to the "no cents" fiasco.

I agree that $35 is too much money for that coin.

 

Bruce:
Order the steak & lobster!
And don't forget desert!
Have fun, and yup, you are correct.

 

Interesting tidbit if I recall correctly (if not, someone please correct me)-apparently the no cent nickels are relatively inexpensive, because there was a gentleman who gold plated them, and spent them as if they were 5 dollar coins. He was not convicted, as he was a deaf mute, and no one could testify that he actually claimed it was a 5 dollar coin.

As a result of people being fooled, the government had it changed to read the denomination on the reverse. Newspapers stated that the no cents coins would be very rare, and people also speculated as such, so they were hoarded in large quantities.

 

I have never heard them called "victory nickels" before.

The "V" is the Roman numeral for "5".

 

That was what I had read back a while ago too. Interesting thought tho for the unscroupolous folks we have today. I am surprised Ebay is flooded with fakes like this.

 

I'm pretty sure that GDJMSP is correct. It has become more of an urban legend for what "could have" happened with the nickels.

 

Wow! I'm pretty sure I read that story in Breen. I heard he made up lots of the historical information in his book.

 

We will be having lunch at the Red Lobster on Monday he is a nice guy so I will just order fish.
Bruce "THE FRANK GROUP"

 

That says it all. :rolling:

 

I picked up mine for $15 plus change if memory serves me.
It also has an interesting die crack between the stars closest to Liberty's neck/chin (3rd pic taken using direct lighting).

 

I know a Coin Dealer in Knoxville that will give him 10 cents for it and will probably give him a long line about how is paying more than usual but he is doing him a favor!