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In 1866, President Andrew Johnson approved a bill that would authorize the coinage of five-cent pieces. These five-cent pieces would be composed of nickel and copper, which is where the nickel got its name, even though the coins were made of more copper than nickel. This first nickel was the Shield nickel.
The U.S. had already been minting a five-cent piece prior to the Shield nickels, but they were referred to as "half-dimes". These coins were made entirely from silver, and were much smaller.
The new coin was a hit, and in 1867 and 1868, nearly 30 million nickels were minted!
In 1883, the Shield nickel was replaced by the Liberty Head nickel, the Buffalo nickel made its debut in 1913, and in 1938, the first Jefferson nickel was minted.
The Jefferson nickel has gone through a few changes of design over the years, with the "Return to Monticello" type being the most recent design change to the coin. (2006 to date)
Did you know, for 73 years a bottle of Coca-Cola cost a nickel?
Coin images courtesy of Cointrackers.com and United States Mint
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