The Nickel That Cost $3.7MM USD

A nickel is a nickel is a nickel - Always worth five cents right? Wrong! If it is one of the five 1913 Liberty Head nickels, then it may be worth millions - as much as $3.7mm, as is reputed to have been paid by an anonymous buyer, at an auction held in Orlando, Florida, last Thursday.

While all five nickels are famous the 'Olsen-Hawn' specimen, as this one is called, is particularly so - not only has it previously been owned by famous celebrities like Egypt's King Farouk and Los Angeles Lakers owner, Jerry Buss, but it was also the 'star' in one of the episodes of the popular crime drama, 'Hawaii Five O', that aired on television, from 1968 to 1980.

The Liberty Head Nickels were minted from 1883 to 1912. In 1913, the design was changed to depict the American Indian. However, an unknown person at the Philadelphiamint made five nickels with the Liberty Head design and the year 1913 inscribedon it. Who did it or why, remains a mystery till this day.

When rare-coin collectors found out about these, they started to outbid each other, in order to try add the coins to their collections. Over the years, each of these coins has been 'named' and auctioned off several times, their prices based on their condition.

As the years have gone by, they have become increasingly expensive, especially since three of the precious five, have landed up in museums, leaving only two for private collectors to bid on, when they come up for sale, which is pretty rare. Though the 'Olsen-Hawn' specimen is the most famous, the 'Elliasburg' nickel (pictured above), is in better condition, and was last sold in 2007, for an astounding $5mm USD!

Would you pay millions for a 'rare' nickel? Be sure to let us know by adding your comments below!

sources:about.com, wikipedia.com, telegraph.co.uk