Liberty Head Nickel - Replacement

Replacement

In 1909, consideration was given to the replacement of the Liberty Head nickel by a new design. In an attempt to modernize the coinage, the cent and the gold pieces had been redesigned. Prominent artists from outside the Mint had been contracted to provide the designs of the new coins, much to Barber's disgruntlement. Mint Director Frank A. Leach was an admirer of Barber's work, and had him prepare designs to be struck as patterns. Barber, at Leach's request, prepared a design showing Washington's head, and newspapers reported that new coins might be issued by the end of 1909. In July 1909, however, Leach resigned, putting an end to the matter for the time being.

On May 4, 1911, Eames MacVeagh, son of Treasury Secretary Franklin MacVeagh wrote to his father:

A little matter that seems to have been overlooked by all of you is the opportunity to beautify the design of the nickel or five cent piece during your administration, and it seems to me that it would be a permanent souvenir of a most attractive sort. As possibly you are aware, it is the only coin the design of which you can change during your administration, as I believe there is a law to the effect that the designs must not be changed oftener than every twenty-five years. I should think also it might be the coin of which the greatest numbers are in circulation.

Soon afterwards, Deputy Secretary of the Treasury Abram Andrew announced that the Mint would be soliciting new designs. Well-known sculptor James Earle Fraser approached Treasury officials, who were impressed by his proposals. Mint Director Roberts initially asked Fraser for a design featuring a bust of Lincoln, which he produced, mainly to please Roberts, but Fraser also developed a design featuring a Native American on the obverse, with an American bison on the reverse. This design was given preliminary approval by MacVeagh on January 13, 1912, and would come to be known as the Buffalo nickel. In late June, Fraser completed the model of the final design. The specifications of the new nickel were provided to the Hobbs Manufacturing Company, a maker of vending machines, which, following a meeting with Fraser in early November, opined that the new coins would likely jam its machines. At the company's request, Fraser prepared a revised version, but Secretary MacVeagh rejected it on the grounds that the changes compromised the design, which he greatly admired.

On December 13, 1912, Roberts warned the Mint staff to take no action in preparation for the 1913 five-cent coinage until the new designs were ready. He ended production of the Liberty Head nickel at the Philadelphia Mint the same day. A minor change was made to the Buffalo design in an attempt to satisfy the Hobbs Company, which promptly provided a lengthy list of changes it wanted made to the coin. On February 15, 1913, with less than three weeks until he would have to leave office on the advent of the Wilson administration, McVeagh wrote to Roberts, noting that no other vending or slot machine maker had complained about the new design. The Secretary concluded that everything possible had been done to satisfy the Hobbs Company, and ordered the new nickel put into production.