The 1913 5C Liberty Proof coin, a part of the Liberty Head Five Cents series (1883-1913), is one of the most sought-after and historically significant coins in American numismatic history. With only five known specimens, this coin’s rarity and captivating backstory have made it a prized possession among collectors and investors alike. In this article, we will explore the mintage, design, rediscovery, and auction history of this exceptional coin.
The History of the 1913 5C Liberty Proof Coin
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The 1913 5C Liberty coin was minted in Philadelphia, with a design crafted by renowned artist Charles E. Barber. The coin was made from a copper-nickel composition, with approximately 75% copper and 25% nickel, typical of the Liberty Head Five Cents series. The Liberty Head design, first introduced in 1883, continued until 1913, marking this coin as the final year of production for this iconic series.
What sets the 1913 5C Liberty apart from other coins of the era is its limited mintage. Unlike most coins, which have larger production runs, only five of these proof coins were ever struck. This incredibly low mintage has contributed to the coin’s rarity, making it one of the most coveted pieces in the world of numismatics.
The Rediscovery of the 1913 5C Liberty Coin
For decades, the 1913 5C Liberty Proof coin was considered lost to history. It wasn’t until the early 2000s that one of the five coins was rediscovered, adding to its mystique and value. The coin was once owned by George Walton, and after it had been missing for years, it was thought to be a counterfeit. However, after the offering of a $10,000 reward for its return, the coin was authenticated in 2003, confirming its status as an original 1913 5C Liberty Proof.
The rediscovery of this rare coin brought new excitement to the numismatic world, making it even more desirable. In fact, its historical significance, coupled with its rarity, only increased its value on the market.
The Auction History and Value of the 1913 5C Liberty Proof Coin
After its authentication in 2003, the 1913 5C Liberty Proof coin was loaned to the American Numismatic Association, where it was displayed for the public to admire. But the story of this coin didn’t end there. In 2018, the coin was sold once again, and the results were nothing short of extraordinary.
The auction, conducted by Stack’s Bowers, set a new world record when the 1913 5C Liberty Proof coin sold for a staggering $4,560,000. This auction price reflected not only the coin’s rarity but also its excellent condition, as it was graded PR66, making it the third finest of the five known examples. This remarkable sale underscored the increasing value of rare coins, driven by both inflation and the growing interest in numismatic investing.
Why the 1913 5C Liberty Proof Coin Is So Valuable
Several factors contribute to the 1913 5C Liberty Proof coin’s immense value. The most significant of these is its rarity—only five coins exist, and each one is a piece of American history. In addition, the coin’s rediscovery added a layer of intrigue, making it even more desirable to collectors.
Moreover, the coin’s historical significance as part of the Liberty Head series, its minting by a well-known designer, and its association with famous numismatic figures have all played a role in increasing its value. The coin’s exceptional condition (PR66) further elevates its desirability among collectors.
The Future Value of the 1913 5C Liberty Proof Coin
Given the ongoing rise in the cost of living and inflation, the value of the 1913 5C Liberty Proof coin could continue to increase in the future. If the coin were to appear at another auction, its price could potentially exceed the record-breaking $4.56 million achieved in 2018. As the demand for rare and historical coins grows, this legendary piece is likely to maintain its status as one of the most valuable coins in existence.
Conclusion
The 1913 5C Liberty Proof coin is more than just a rare piece of currency; it is a symbol of American history and a testament to the power of rarity and rediscovery. Its journey from a lost artifact to a multi-million-dollar auction piece demonstrates the allure of numismatics and the lasting value of unique coins. As long as collectors continue to seek rare and historically significant coins, the 1913 5C Liberty Proof will remain one of the most coveted treasures in the world.