It is one of the most sought-after coins by numismatists, due to its low mintage and historic significance.
Here are some factors that contribute to the high value of the 1909 V nickel:
- Low Mintage: Only 484,000 1909 V nickels were minted, making it one of the lowest mintage nickel coins in US history. This low mintage is due to a production error that resulted in the "V" mintmark being struck over the original "S" mintmark.
- Rarity: The vast majority of 1909 V nickels were melted down during the silver melt of the early 20th century. This further reduces the number of these coins still in existence, making them even more rare and valuable.
- Historical Significance: The 1909 V nickels are part of a series of nickels issued in 1909 that featured the new "Indian Head" design by sculptor James Earle Fraser. This design was a radical departure from the previous Liberty Head nickel and was eventually adopted as the permanent design for the nickel until 1938. The 1909 V nickels are therefore considered as historic transitional pieces between the old and new designs.
Overall, the 1909 V nickel is a highly prized coin among collectors and its value reflects its scarcity, historical significance, and low mintage