Cache of 1883 No Cents Nickels Featured in Heritage April 2018 CSNS Sale

by CoinNews.net on March 26, 2018 · 6 comments

A historic hoard of nearly 300 1883 NO CENTS Liberty nickels — hidden for more than a century in a simple canvas sack — may prove irresistible for collectors seeking one of the most fascinating and curious discoveries in modern numismatics.

Canvas Sack - 297 No Cents Liberty nickels

This canvas sack held 297 1883 NO CENTS Liberty nickels (Imaged by Heritage Auctions, HA.com)

Heritage Auctions is offering the entire hoard of 297 coins (and the sack, too) as a single lot in the firm’s U.S. Coins Auction during the Central States Numismatic Society Convention April 25-30 in Chicago.

"The consignor wants to present the cache as it was originally discovered: Inside the original canvas sack which was found untouched since the late 1880s," said Greg Rohan, President of Heritage Auctions. "Most of the coins grade Uncirculated to Choice Uncirculated."

The hoard is the numismatic stuff of dreams. The coins were found stashed in an age-stained canvas sack for fishing weights made by the New York Lead Company. Cinched shut by a simple drawstring, the bag retained a hand-written note dated Oct. 21, 1889. The numismatic newspaper Coin World touted the discovery in 2009 when the sack full of coins was purchased at a small New England auction.

The 1883 NO CENTS nickel quickly became a popular collectible shortly after they were issued. Chief Engraver Charles E. Barber designed the undenominated coin to depict a left-facing bust of Lady Liberty surrounded by stars.

1883 No Cents Liberty nickel - obverse

1883 No Cents Liberty nickel – obverse (Imaged by Heritage Auctions, HA.com)

The reverse features a bold Roman numeral V inside a laurel wreath surrounded by the words UNITED STATES OF AMERICA and E PLURIBUS UNUM.

1883 No Cents Liberty nickel - reverse

1883 No Cents Liberty nickel – reverse (Imaged by Heritage Auctions, HA.com)

Later that same year, the Mint added the word CENTS to the reverse after it learned scoundrels were gold plating the coin to pass them off as five dollar gold pieces.

Barber’s original design appeared 30 years later on what would become five of the most sought-after coins in numismatic history. A Mint employee secretly produced five Liberty Head nickels marked 1913. The famously rare coins are now worth millions. Heritage Auctions sold one of the five 1913 Liberty Head nickels for more than $3.7 million.

"One could say the 1883 NO CENTS Liberty nickel is responsible for one of the most fascinating chapters in numismatics," Rohan said. "Ironically, the hoard we’re offering in April adds one more page to the coin’s curious history."

As the official auctioneer, Heritage Auctions will offer the hoard of nearly 300 1883 NO CENTS Liberty nickels in its U.S. Coins Auction April 25-30 during the Central States Numismatic Society annual convention. Online bidding opens April 6 on HA.com/1274 and a full preview of the auction’s lots is April 24-28 at the Renaissance Schaumburg Convention Center Hotel, 1551 North Thoreau Drive, Schaumburg, IL.

Heritage Auctions (HA.com) is the largest fine art and collectibles auction house founded in the United States, and the world’s largest collectibles auctioneer. In addition to its headquarters in Dallas, Heritage has offices in New York, Beverly Hills, San Francisco, Chicago and Palm Beach, Paris, Geneva, Amsterdam and Hong Kong.

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6 Comments on "Cache of 1883 No Cents Nickels Featured in Heritage April 2018 CSNS Sale"

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Old+Collector
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Old+Collector

Whoever has the good fortune to come into sole possession (as intended) of this entire bag of very unusual coins will find themselves with a monumental decision to make after the fact, that being as to whether to keep the horde intact as is in perpetuity or to instead break it up into smaller lots – or even more drastically into individual pieces – with the hopeful intent of increasing the resale value and thus multiplying their ultimate profit on this deal.

Old Collector

Chas+Barber
Guest

Great find…I can’t pay the price but I would & keep it intact…..or use them for fishin !!

Old+Collector
Guest
Old+Collector

Most likely catch yourself some bottle blonde Vegas gold diggers with those!

P.S.-Strongly suggest you throw them back before they cost you even more! wink

Old Collector

Mouse
Guest

What a great find and will bring much attention at auction. Great investment for someone that has the time and money to grade each coin / coins worth grading. These beauty’s can fetch between $2 – $1000 dollars per coin dependent on quality and grade.I will be keeping an eye on this auction.

Mouse

Chas+Barber
Guest

OLd C you’re right & the Mrs. wold be very ‘pleased’…..silver diggers! For gold I’d need to plate these with AU = a 2018 Racketeer Model!! Nickle slots also are not as attractive as they used 2 bee

Old+Collector
Guest
Old+Collector

Nickel slots (at Atlantic City) were always my personal favorites; you could be sure to be able to play at least a little bit longer before you lost everything! silly