A new design was adopted for the five-cent denomination in early 1883. The obverse contained a rendition of Liberty wearing a crown with agricultural elements intertwined with her hair. Thirteen stars surround the image with the date below. On the reverse, the denomination is indicated by a large Roman numeral "V" surrounded by an agricultural wreath and inscriptions.
A much recounted tale in numismatics is that some examples of the nickel were gold plated and passed off as $5 gold pieces. This was possible since the only identification of the denomination was the large "V" on the reverse. To prevent the practice of creating these "Racketeer Nickels", the design would be altered during the same year to include the word "CENTS" beneath.
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