Coin Values Moving with Precious Metals: Up-Dated 3/10/2025: Gold $2906 | Silver $32.39
1903 Nickel Value
Initially minted in large numbers, 1903 nickel value follows a rise in value with the coin's preservation level. In the coin market, strong premiums are awarded to examples of higher condition/grades.
Determine market value by a coin's series, date, condition. Also, identify exceptional qualities causing it to stand out from the rest. Using the process below, determine how much an old Liberty nickel is worth. Begin evaluating your coin by reviewing the value chart noting the condition categories.
Steps Leading to Value:
- Step 1: Date Identified - Always verify accuracy of the date, crucial in the coin hobby.
- Step 2: Grading Condition - Using "grading" examples, compare your coin and find a close match.
- Step 3: Special Qualities - An important step is to receive and recognize full value.
| 1903 Nickel Value | ||||
|---|---|---|---|---|
| Condition of Coin | ||||
| Date | Good | Fine | Extremely Fine |
Mint State |
| Liberty Nickel Value Updated | 2025 | |||
| 1903 | $1.80 | $4.62 | $24 | $70 |
Read the value chart as a range of wholesale values for these Liberty nickels. Any large change from one condition category to the next depends on subtle grading points. Eye appeal is very important to the market's acceptance of any coin.
Step 1: Although an Available Date Accuracy is Needed
Produced in the later part of the Liberty nickel series, 1903 nickels were also struck in large quantities. This high volume of initial mintage and the saving of this soon obsolete series results in ample quantities still surviving. Value profile of the 1900s nickels rates them as affordable. Highly detailed coins are the ones awarded with strong premiums. The Philadelphia mint struck 28 million; however, most are now in lower condition ranges. Confirmation of the date is a routine performed by all within the coin field. It is a good practice to ensure accuracy in descriptions of coins.
Step 2: | Comparing to Images Starts the Grading Condition Process
Condition Finds 1903 Nickel Value on Charts
Grading condition identifies the extent of wear and removal of metal from a coin's surface. 1903 nickels are commonly found displaying a heavy wear pattern. Most are missing design detail. Significant to collectors are those pieces in Extremely Fine grade. A condition with only light wear in small areas.
A grading process uses images of different grades to quickly recognize a similar match of condition. With a closer inspection and focus on features highlighted in the description of the grade, make an accurate judgment. Determining a narrow grade range then finds its listing on value charts. Condition becomes an important part of a full description of these old nickels.
Mint State Grade
Mint State: The term "Mint State" refers to coins that have not suffered any wear to their surfaces. This "no wear" aspect is essential when determining this high-quality condition, it is a defining characteristic. A prominent feature of the nickel is a portrait of Liberty with a high level of detail. In the first step of the grading process, inspect high areas to determine and validate there is no wear.
A surface covered with a texture reflecting as luster, indicates undisturbed metal. Nickel, when worn, loses the delicate minting texture that distinguishes it. The metal becomes a smooth surface with a muted gray color. In some cases, a toning of light tan color covers the overall coin. Inspect Liberty's open cheek and neck areas. Any smoothing of the metal plays a role in making this decision. When compared to the lower relief portions along the neck line, a similar surface texture with high contours of the metal helps in judging the lack of wear.
The finely detailed strands of hair that run along her forehead is the second location to examine. There are no indications of flattened or worn surfaces at the highest points, which are fully rounded. Each strand of hair on her forehead and throughout the rest of her head displays a soft sheen. Tilting the coin under a light reflects and confirms the presence of luster "beneath" any toning. This underlying luster reflects as a brightness that follows the light's movement.
Extremely Fine Grade
Extremely Fine: Extremely Fine condition is a significant grade that represents a substantial change in value and appeal to collectors. Many of the finer details, for example, those in Liberty's hair, remain well detailed. A slight but visible blending of hair strands above the forehead and ear are typical signs of light wear. To qualify at the grade, each area of smooth metal is well separated from the others with original detail visible between.
Also, a strong requirement, her headband reads LIBERTY in its entirety. All letters bold from top to bottom. A lower quality is indicated once significant design features, like lettering, are absent. Another strong requirement for the grade is a full hair line from the forehead to the ear.
Even though the majority of texture and luster is removed from Liberty's portrait, areas of her cheek and neck do not display flattened metal. There is no flattened appearance to these open areas.
Fine Grade
Fine Grade: When visible wear on a Liberty nickel begins to involve several parts of the design blending together, the condition of the coin falls within the Fine grade level. One indication of the level of preservation is when only partial features of hair strands and hair wave details are visible. This indicates a moderate amount of wear. As noted in the illustration, a specific detail is keeping this coin in the Fine grade category. Confirm Liberty's hair displays waves towards the back of her head.
Located above the head band, notice the leaf edges and the two spikes of wheat grains show a flattened appearance. The Fine grade requires complete separation of the leaf edges from the hair. Also, individual wheat grains remain visible within the spray near the headband.
Legibility of "Liberty" above the headband is next judged to confirm the grade condition. The most important requirement is all letters show completely. Even though it is often less bold, the letter "I" is intact with no fading, especially along the bottom. Many collectors of early Liberty nickels consider both the condition and affordability of this coin desirable.
Good Grade
Good Grade: Good grade Liberty nickels are visually a heavily worn coin. Importantly, inspect four major features to determine if a Liberty nickel meets this grade category. Aesthetically, these coins are appealing and do not appear worn out.
This first and main feature to judge is Liberty's portrait. This coin shows her portrait nicely outlined, separate from the field, and boldly elevated. Boldness of Liberty's outline is balanced from front to back. It is often noted; the impression and height are less strong at the back. Additionally, the date's digits do not fade or merge with the field.
The relationship between the stars and the rim is the next two requirements. The inner edge of the rim is complete, and all thirteen stars are visible with no fading. A strong requirement to meet the grade is the complete separation between the star points and rim, as seen on the example nickel.
How to Video: Grading Liberty Nickels
With a range of conditions involving very worn surfaces to no wear to the surface, a set of standard grades defines each. Examine both the obverse and reverse. Compared to examples in the video, with descriptions helping focus on important features.
How to Grade Liberty Nickels | Visual Guide
Step 3: | Important to Record the Special Quality Coins
Coin Values Worksheet Saves Key Info as Reference
As part of research into the value of a 1903 nickel, recording important features as you move along and having it handy streamlines the process.
The printable Coin Values Worksheet provides a "written record" of needed info defining and describing each coin.
Sample Image of the Coin Values Worksheet
Print as many as necessary - Link: Coin Values Worksheet
Using these Liberty nickels as examples, dates of the coins are of primary importance. The value process systematically begins with an accurate date. Enter a clear recording of the date.
Next the denomination is entered, 5-Cent. Followed by "Liberty" to indicate the design series. An entry format of: 5-Cent/Liberty is suitable.
Additionally, add a further description next to its denomination. What is important about the coin? Was it a gift from a parent? Provenance is always a quality to keep a record of. Indicate your first impression of the coin. Many older coins show problems, such as dark in color, a large mark, or are just heavily worn. Put a positive note of the coin if it displays well without problems. Indicate "Nice" or "Many Details" as a qualifier.
Here are a few descriptive factors:
- Provenance: How/Were you acquired the coin
- Overall Color: Even Light Gray | is a nicely toned coin
- Surface Quality: Mark Free | no noticeable, distracting marks
- Wear: Even Wear | is preferable when compared to wear causing a partial rim on one side
- Wear: Well Detailed | Many details visible depict a quality look
In the grade column, place a conservative opinion of the coin's condition. It is very easy to optimistically grade (over-grade) an exciting historical coin. If not sure of its condition, and believe you are likely close, add a "?" mark next to the grade. Revisit the grading process at a later time. Gaining experience often clarifies the questions.
Entering a value is always a range of how much the coin is worth. Noting all these factors entered along the 1903 nickel line shows the variables involved. However, the research of your evaluation provides a narrow range for this entry. Specific features about the coin now support the value column.
References
U.S. Mint. 1904 U.S. Mint Annual Report
https://nnp.wustl.edu/library/book/512059
U.S. Mint. Catalogue of Coins of the United States.
https://nnp.wustl.edu/library/book/554591
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