1883 V nickel Feedback?? 0

[Dejone Maxwell]

Got this out of my register today it look weird and caught my eye, can anybody tell me what's going on with this coin is it a possible error?

[Fenntucky Mike]

That's a pretty cool find! Looks like it was plated and encased, maybe as a jewelry piece. Definitely a keeper.

It's not an error coin. 

[Mr.Bill347]

This is/was an 1883 Liberty Head nickel that looks to be in decent condition. And this version is “dumb” as it has no “cents” . An MS coin, according to PCGS is about $80 however because it has been gold plated and encased it is not worth much but I would hang on to it maybe put it in a coin capsule. Most likely there was a nub that was removed that was a necklace stem. 

[Woods020]

Racketeer nickel. When this design came into circulation the undesirables quickly figured out they could gold plate these and pass them off as gold coins. Cents was added soon thereafter to prevent that. 
 

Littleton produced some of these more recently as some of the junk they sell, which is probably where this came from. 

[The Neophyte Numismatist]

@Woods020 is correct.  Racketeer Nickel.  These were passed off as $5 gold coins, and some unscrupulous folks even carved reeds on the edges to make them look more authentic.  

The most popular proliferator of the Racketeer Nickel was Josh Tatum, a deaf mute and small town hustler.  Josh would buy a 5c cigar, pay with the gold plated nickel and get $4.95 in change back.  He was later arrested, but was acquitted at trial, because he never said he had a $5 gold piece, and never asked for his change (he was a mute).  This started the phrase "Stop 'Joshing' me" or "just 'Joshing'" - as a way to say joking or tricking.

Many "No Cents" V-Nickels have been plated after the fact for the story and novelty.  It's is very difficult to tell a "real" Racketeer Nickel, from a later novelty plating job.  Some claim that having a reeded example makes it more "authentic." - A genuine fake!

[gmarguli]

On 1/25/2022 at 6:25 AM, The Neophyte Numismatist said:

The most popular proliferator of the Racketeer Nickel was Josh Tatum, a deaf mute and small town hustler.  Josh would buy a 5c cigar, pay with the gold plated nickel and get $4.95 in change back.  He was later arrested, but was acquitted at trial, because he never said he had a $5 gold piece, and never asked for his change (he was a mute).  This started the phrase "Stop 'Joshing' me" or "just 'Joshing'" - as a way to say joking or tricking.

It's my understanding that this Josh Tatum story is a myth that was first told mid-20th century. You'd think that if Josh Tatum existed, there would be court records or newspaper articles from that time period naming him. 

[The Neophyte Numismatist]

On 1/25/2022 at 1:43 PM, gmarguli said:

It's my understanding that this Josh Tatum story is a myth that was first told mid-20th century. You'd think that if Josh Tatum existed, there would be court records or newspaper articles from that time period naming him. 

The world will never know:

https://coinweek.com/us-coins/fact-or-myth-josh-tatum-and-racketeer-nickels/

[RWB]

Minor coins with denomination expressed as a Roman numeral were among several coinage proposals from the later 1870s into 1883. A. Loudon Snowden and Joseph Whatron were the primary proponents. The existing three-cent copper-nickel coins had only  "III" on the reverse and no denomination name. Out of "I" "III" and "V" cent coins, only the five cent was approved, and the coin was issued in March (I think) 1883. Crooks immediately noticed the lack of a denomination and similarity in diameter to a half eagle, and had them gold plated. Some were reeded before plating and some where left with plain edges. The Mint became aware of this within a week of issuance, and engraver Barber was ordered to change the reverse to include the value in words. Authentic plated nickels are nearly all Unc or AU58. Worn coins are later imitations.

There are many apocryphal stories and other nonsense, and as many "Josh Tatums" as there are turnips in the turnip wagon.

[See my book Fads, Fakes & Foibles for details on the minor coin proposals and other interesting oddities of American numismatics.]

Edited January 25, 2022 by RWB