What Does "Roll of Nickels" Mean? A Detailed Guide

A "roll of nickels" refers simply to $2 worth of nickels, which equals 40 coins, wrapped in a standard paper coin tube. But as you‘ll see, there‘s much more to discover about these humble 5-cent pieces and their history when it comes to coin collecting!

Why Nickels Matter

Before we dive into the specifics on nickel rolls, it helps to understand why nickels are important in commerce and numismatics:

• Essential denomination – The 5-cent nickel has been minted since 1866 and fills a useful spot below the dime in value.

• Composition – Nickels have been made from a copper-nickel alloy since their introduction, with some key rare exceptions.

• Large mintages – Billions of nickels are struck each year at huge production levels, putting plenty into circulation.

• Affordable collecting – With such enormous mintages, most dates can be found at low cost, making nickels ideal for casual collectors.

So while nickels are often overlooked, their longevity and abundance offer plenty of possibilities for coin enthusiasts on every level!

The Origin of Nickel Rolls

So why wrap nickels into rolls in the first place? The practice dates back to the early 20th century. As coin-operated machines rose in popularity, the need for wrapped coins grew. The Federal Reserve began specifying standard 40-nickel rolls to make commerce easier.

By the 1950s, machine-wrapped rolls bearing the issuing Federal Reserve Bank‘s name were common. Today, collectors can still find these "bank-wrapped rolls" sealed in vintage Fed paper. Unopened, they sell for a premium over face value.

Compiling Your Own Nickel Rolls

While bank-wrapped rolls offer an intriguing historical artifact, many enjoy assembling their own rolls to hunt for stand-out coins. Here is a step-by-step guide:

1. Obtain wrappers – Get empty nickel roll wrappers from your local bank. They are usually happy to provide a few free.

2. Collect nickels – Search pockets, jars, accumulations to gather $2 worth of nickels (40 coins)

3. Inspect for key dates – Check each nickel for rare dates like 1913, 1950-D, 1955 doubles.

4. Align orientation – Stack the 40 nickels neatly with Jefferson heads facing the same direction.

5. Wrap the roll – Slide stack into wrapper, fold ends, and firmly crimp down.

6. Label – Identify denomination ($2 Nickels) and any other info on the outside.

Repeat to amass multiple rolls of coins to cash in or continue searching through.

Nickel Specifications

To look at nickels closely, it helps to know precisely what defines them. Nickels have had the same size, weight, and composition for most of their history:

• Diameter – 21.21 mm
• Thickness – 1.95 mm
• Weight – 5.00 grams
• Composition – 75% copper, 25% nickel

These specs have remained unchanged from 1913 onward. Prior nickel five-cent pieces were slightly larger. The alloy has seen some temporary wartime composition changes.

Wartime Nickel Varieties

One intriguing aspect of nickel collecting is the special compositions used due to wartime metal shortages in 1942-1945:

These so-called "war nickels" are still legal tender but contain precious silver making them more valuable to collectors based on the current silver price. They can still be found in circulation today!

Grading and Valuing Nickels

When searching rolls and building a collection, knowing how to grade and value nickels is key. Here is a quick grading guide for circulation strike nickels:

• Mint State (MS) – No wear, ranges from MS60 to MS70 based on luster and marks. Worth a premium.
• About Uncirculated (AU) – Minor wear but most details sharp. Still collectible.
• Extremely Fine (EF) – Moderate wear on high spots but very detailed.
• Very Fine (VF) – Wear over most features but outlines visible.
• Fine (F) – Major designs worn but visible outline.
• Good (G) – Heavily worn with outline visible but faint.

Higher grades mean more collector value. But even well-worn examples are fun finds.

Notable Nickel Errors and Varieties

Nickels have a long history of intriguing mint errors and variety coins adding diversity to the series. Here are some of the most famous to know:

• 1913 Liberty Head Nickel – Only 5 exist of this rare and extremely valuable model.

• 1937-D 3-Legged Buffalo Nickel – Caused by a filled die die, only a few confirmed examples are known.

• 1955 Doubled Die Obverse – Strong detail doubling makes this iconic "poor man‘s doubled die" highly prized.

• 2004-P Peace Medal Nickel – A small number escaped the mint with President Washington peace medals on the reverse.

Where to Buy Nickel Rolls for Searching

Now that we‘ve covered plenty of nickel basics, where can you source rolls to search for treasures? Here are some popular options:

• Banks – Ask for nickel rolls. Free but may only yield common circulated coins.

• Credit unions – Similarly will provide rolls, sometimes emptying their vault supplies.

• eBay sellers – Buy individually wrapped rolls or full $100 boxes from various sellers.

• Coin dealers – May provide older uncirculated rolls from Federal Reserve stocks.

• Coin shows – Find rolls and specific dates sold by knowledgeable professional dealers.

Handling and Storing Nickels

To keep any nickel collections or rolls pristine:

• Handle coins carefully by the edges to prevent marks and dings.

• Use plastic 2×2 coin holders or poly tubes to protect individual coins.

• Store nickels at consistent moderate temperature and low humidity.

• Avoid cleaning or polishing as this damages the coin‘s protective finish.

Proper care preserves nickels for years to come!

So in summary, while most people don‘t give nickels much thought, for coin collectors they offer an intriguing affordable series to explore. From unique wartime compositions to famous rarities like the 1913 and 1955 doubled die, nickels present plenty of possibilities at a low price point. Armed with the knowledge from this guide, you can confidently join fellow hobbyists in searching nickel rolls!