1912-D

The 1912-D Liberty Head nickel was the first Liberty Head nickel ever struck at the Denver Mint and the first nickel ever struck at any branch mint. Denver had been producing gold and silver coins since 1906, but the nickel had remained a Philadelphia exclusive for nearly thirty years. The Mint's 1912 decision to expand nickel production to Denver reflected growing demand in the western states and the need to reduce transportation costs for bulk coinage shipments to the rapidly growing western cities. Denver delivered 8,474,000 Liberty Head nickels in 1912.

PCGS estimates approximately 30,000 survivors across all grades, with around 2,000 in MS60 or better and 600 at MS65 or better. The coin is available in circulated grades without difficulty and accessible in Mint State through normal collector channels at moderate premiums. Gem-quality 1912-D nickels are scarcer than Philadelphia coins of the same year, reflecting the generally lower preservation rate of branch mint coins from the period.

The auction record is $41,125 for an MS67 sold by Legend Rare Coin Auctions in November 2018. The finest known is MS66+ in normal certified channels, with the MS67 representing a single census-level example. Per Ron Guth, the 1912-D is "one of the more common dates in the series, but the mintmark on the back adds a lot to this coin's popularity." MS64 is the most frequently seen Mint State grade, gems are plentiful, and MS66 examples are scarce.

Identification requires verifying the D mintmark, positioned to the left of CENTS on the reverse below the wreath. The mintmark is small and can be difficult to see on worn coins, and specialists often verify it through magnification. All subsequent Liberty Head nickel collecting recognizes 1912-D as a separate date in a date-and-mint set, and the coin is essential for completing the full run of Liberty Head nickels across all three production facilities.