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Message:: [QUOTE="Hobo, post: 344272, member: 11521"]Hobo nickels were made by hobos so they could exchange them for a meal, a ride on a train or something else they could not afford. Sometimes they sold them (but not for a lot).  The buffalo nickel was the perfect pallet for their art. Early hobo nickels were carved on coins that were still in circulation and with little collector value (so they usually were not destroying a valuable coin).  Early hobo nickels were usually carved on buffalo nickels with little wear but after the buffalo nickel was discontinued in 1938 it became harder and harder for a hobo to find AU and XF buffalo nickels in circulation. In the 1950s some coin dealers would give common date nickels in VF and XF to a carver and pay them (a pittance) for the carved nickels. A typical hobo nickel was created by removing the feathers from behind the Indian's head and the braid from the Indian's neck. (This was not done on hobo nickels less than "average".) Then a hat - usually a derby or bowler - was added to the Indian's head. Some hats had an elaborate band. A beard and hair were added to the Indian on most hobo nickels. Usually a collar was added to create the image of a coat. Sometimes the Indian's profile was altered (usually the nose). Some added a cigarette, stick pin or something else to make their coin special.  Some hobo nickels were very crude while others were extremely well done. Most of the early carvers had crude tools - a knife, a sharp nail, etc. Some used gravers, punches and other such tools but almost without exception (the exceptions primarily being jewelers) the original hobo nickels were carved by hand by the light of a camp fire or lantern in a hobo camp. Modern carvers have the luxury of power tools, excellent light and good magnification (things the early carvers could not even imagine).  I bought the following hobo nickel at a recent Heritage auction.[/QUOTE]

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