Introduction to the 1907 Nickel
The 1907 nickel, officially known as the Liberty Head nickel, is a significant piece in American numismatic history. Struck during a time of economic change and political upheaval, this coin offers collectors and historians a fascinating look into the era. Its design, production, and subsequent varieties make it a sought-after item for numismatists. This article delves into the history, features, and significance of the 1907 nickel.
Historical Context of the 1907 Nickel
To understand the significance of the 1907 nickel, it is essential to consider the historical backdrop against which it was produced. The early 20th century was marked by significant economic transformation in the United States. The industrial revolution was in full swing, leading to rapid urbanization and the growth of a consumer economy.
Economic Changes
By the turn of the century, the United States was transitioning from an agrarian society to an industrial powerhouse. This change led to increased demand for currency and the need for more efficient methods of production and distribution. The Mint had to keep pace with the growing economy by producing a sufficient supply of coins, including the nickel.
Political Climate
The political landscape during this period was also dynamic. The Progressive Era was underway, characterized by social activism and political reform aimed at addressing issues such as workers’ rights, women’s suffrage, and corruption in politics. These changes were reflected in the coins being produced at the time, including the design choices made for the 1907 nickel.
Design of the 1907 Nickel
The 1907 nickel is part of the Liberty Head series, which was first introduced in 1883. The design of the coin is emblematic of the artistic styles and values of the era.
Obverse Design
The obverse (front) of the 1907 nickel features a left-facing bust of Lady Liberty. She is depicted wearing a coronet inscribed with the word “LIBERTY.” The design exudes a sense of strength and independence, reflecting the ideals of American freedom. The surrounding inscription includes the year of minting, “1907.”
Reverse Design
The reverse (back) of the coin features a simple yet elegant design. It showcases a large numeral “5” to denote its five-cent denomination, surrounded by a wreath of laurel leaves. This design emphasizes the coin’s purpose as a currency and the importance of liberty and honor in American society.
Variations and Mint Marks
The 1907 nickel was produced at several mints, including the Philadelphia Mint, the Denver Mint, and the San Francisco Mint. The presence of mint marks on the coin helps collectors identify the location where it was struck. For example:
No Mint Mark: Struck at the Philadelphia Mint.
D: Struck at the Denver Mint.
S: Struck at the San Francisco Mint.
Production of the 1907 Nickel
The production of the 1907 nickel involved several steps, reflecting the minting processes of the early 20th century.
Minting Process
Coin Design Approval: The design of the nickel was approved by the Chief Engraver of the United States Mint, Charles E. Barber. His designs were often controversial but remained in use due to their widespread acceptance.
Blank Preparation: Coin blanks, made from a nickel-copper alloy, were prepared for striking. The mixture typically consisted of 75% copper and 25% nickel, providing the coin with durability and resistance to wear.
Striking the Coins: The prepared blanks were fed into coining presses, where they were struck with the engraved designs. This process involved significant pressure, which imprinted the designs onto the metal.
Inspection and Packaging: After striking, the coins were inspected for quality and consistency. Those that met the standards were packaged for distribution to banks and the public.
Mintage Figures
In 1907, the total mintage of the Liberty Head nickel was relatively low compared to other years, contributing to its rarity and desirability among collectors. The minting figures for the year are as follows:
Philadelphia Mint: Approximately 5 million coins
Denver Mint: Approximately 1 million coins
San Francisco Mint: Approximately 1.4 million coins
The limited production at the Denver and San Francisco mints makes those variants particularly sought after.
Collecting the 1907 Nickel
The 1907 nickel has become a staple in numismatic collections, attracting both novice and seasoned collectors. Its historical significance, coupled with its striking design, adds to its appeal.
Factors Influencing Value
Several factors contribute to the value of the 1907 nickel, including:
Condition: The coin’s grade significantly affects its value. Coins in mint condition (uncirculated) are worth considerably more than those that have seen extensive wear.
Mint Mark: As mentioned earlier, the mint mark plays a crucial role in determining a coin’s value. Coins minted in Denver and San Francisco are generally more valuable than their Philadelphia counterparts due to lower mintage figures.
Rarity: The overall rarity of specific variants, such as those with unique features or errors, can greatly increase their market value.
Resources for Collectors
Numerous resources are available for collectors interested in the 1907 nickel:
Price Guides: Publications like the “Red Book” (A Guide Book of United States Coins) provide comprehensive price guides for evaluating coin values.
Online Marketplaces: Websites such as eBay and specialized coin auction sites offer platforms for buying, selling, and trading coins.
Numismatic Societies: Joining organizations like the American Numismatic Association (ANA) can provide collectors with access to valuable information, networking opportunities, and educational resources.
Preservation and Care
For collectors, proper care and preservation of the 1907 nickel are vital to maintaining its condition and value.
Storage Recommendations
Use Coin Holders: Store coins in protective holders, such as capsules or archival-quality holders, to prevent scratches and tarnishing.
Avoid Cleaning: Never clean coins, as this can significantly reduce their value. Patina and natural wear can add character and desirability to the coin.
Control Environment: Keep coins in a stable environment, avoiding extremes of temperature and humidity, which can lead to corrosion.
Conclusion
The 1907 nickel is more than just a piece of currency; it is a symbol of a transformative era in American history. Its design, production, and place in numismatic collections offer a window into the social, economic, and political currents of the time. Collectors and historians alike value this coin for its historical significance, aesthetic appeal, and the stories it tells about the American experience. Whether you are a seasoned numismatist or a newcomer to coin collecting, the 1907 nickel is a remarkable piece worth exploring and appreciating.