What started as a simple attic cleanup turned into an extraordinary treasure hunt for a Pennsylvania family. While sorting through their late grandmother’s old sewing kit, they stumbled upon a yellowed envelope containing what seemed to be an ordinary coin: an 1883 Liberty Head Nickel. But this was no ordinary find—it was the rare and historically significant “No CENTS” variety. This remarkable discovery eventually sold at auction for an astounding $83,000.
A Hidden Gem in Plain Sight
At first, the family didn’t think much of the coin, assuming it was just another outdated nickel. But on closer examination, they noticed the word “CENTS” was missing from the back. Sensing its potential value, they reached out to coin experts who quickly confirmed its authenticity and exceptional condition. Graded as Mint State 66 (MS66), the 1883 Liberty Head Nickel had survived over a century with virtually no wear—a rare feat that made it a collector’s dream.
The Fascinating Story of the “Racketeer Nickel”
The 1883 Liberty Head Nickel is famous in numismatic circles for its unique design and the colorful history it represents. When it was first minted, the coin featured a large Roman numeral “V” (signifying five cents) but did not include the word “CENTS.” This oversight led to a wave of fraud, as con artists gold-plated the nickels and passed them off as $5 gold coins. The scam was so successful that the U.S. Mint had to redesign the coin later that year, adding “CENTS” to the reverse side to prevent further deception.
As a result, the short-lived “No CENTS” version—also known as the “Racketeer Nickel”—became a sought-after collectible. Although millions were originally minted, only a small number have survived in such pristine condition, adding to their rarity and value.
An Auction Battle for the 1883 Liberty Head Nickel
When the family decided to auction their 1883 Liberty Head Nickel in April 2025, it sparked an intense bidding war among passionate collectors. The auction opened at $15,000, but thanks to the coin’s outstanding condition and intriguing backstory, bids soared rapidly. In the end, the nickel sold for a remarkable $83,000—almost three times its initial estimate.
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Could Hidden Treasures Be Lurking in Your Home?
This remarkable story is a reminder that valuable coins and collectibles may be hidden in the most unexpected places—old sewing kits, forgotten drawers, or jars of loose change. Other rare coins, such as the 1913 Liberty Head Nickel and certain Lincoln Wheat Pennies, have been found in everyday homes, transforming ordinary discoveries into life-changing financial windfalls.
So, next time you’re cleaning out the attic or rummaging through old belongings, keep your eyes open. That dusty jar of change could be hiding a piece of history—like the 1883 Liberty Head Nickel—waiting to be uncovered.
Frequently Asked Questions
Where was the 1883 Liberty Head Nickel found?
It was discovered inside a vintage sewing kit during an attic cleanup in Pennsylvania.
Why is the “No CENTS” version so valuable?
Because of its design flaw that led to widespread fraud and its historical significance. High-grade examples of this nickel are extremely rare.
What does Mint State 66 (MS66) mean?
It’s a grading term that means the coin is in near-perfect condition, showing crisp details and very little wear.
Why is it called the “Racketeer Nickel”?
Con artists in the 1880s gold-plated these nickels to pass them off as $5 gold coins, tricking people out of their money.
Can rare coins still be found today?
Absolutely! Rare coins like the 1883 Liberty Head Nickel can turn up in old collections, family heirlooms, or even in your everyday change.
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