FREE: 1883 LIBERTY HEAD V NICKEL XF DETAILS A TRUE RACKETEER NICKEL YOU JUDGE

The listing, 1883 LIBERTY HEAD V NICKEL XF DETAILS A TRUE RACKETEER NICKEL YOU JUDGE has ended.

i THINK THIS MIGHT BE ONE ORIGINAL RACKETEER NICKEL, AS IT IS DARK WITH AGE AND SHOW TRACES OF GOLD GILT, BUT THAT IS ME YOU BE THE JUDGE, SOMEONE WILL GET A NICE COIN, IT MIGHT BE RARE.
BELOW READ THE INFO ON THE RACKETEER.

COMMENTS WELCOME ON THIS,


The 1883 “Racketeer” Nickel

In 1883 the Mint issued a new 5c coin with the head of Liberty and a Roman “V” meaning “5” on the reverse. Many people thought that the coin was an error since in didn’t have “cents” anywhere on the coin.

The lack of the word cents created an opportunity for the unscrupulous. The coins were gold plated and they were passed off as $5 gold coins

The most famous criminal case about altered 5 cent coins involved a deaf mute named Josh Tatum. He would go to cigar stands and purchase a 5c cigar and pay with a gold plated, hand reeded nickel. The attendant would assume that it was a $5 gold piece and give Josh $4.95 change. He was acquitted since he never said that the coin was $5, he couldn’t. The Mint learned its lesson and later that year put the word “cents” at the bottom of the reverse.

Some of these “Racketeer” nickels survive today and are interesting to collectors. Over the last century, there are many nickels that have been gilt and passed off as the “real” thing so beware of “copies”. Its not easy to ascertain whether you have a “genuine” racketeer nickel as they are all altered coins tampered with outside the Mint. Generally, the ones used in 1883 have some or all of the gilt rubbed off.

The coin in the auction heading and pictures is the coin you will receive, grading of coins is subjective, so its up to you to grade,

Here is link for grading coins,

http://www.pcgs.com/Photograde/


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