Have You Ever Seen a 'Hobo Nickel'?

Did You Know More Than 400 People Collect Them, and Some Cost More Than $1,000?

A good number of coin collectors who have an interest in the U.S. Buffalo Nickel series (1913-38) are believed to have at least one "Hobo Nickel" as a conversation piece. Made from actual U.S. coins struck for circulation, these pieces no longer look the way they did when they left the mint. These aberrations, nonetheless, have found a niche in numerous collections. So much so that in 2005 at the 400+ member Original Hobo Nickel Society's(OHNS) 13th annual auction during the Florida United Numismatics (F.U.N.) convention in Fort Lauderdale, FL, one example, among 171 auction lots, sold for $4,180!

If the term Hobo Nickel is strange to you, perhaps some background on this form of art is in order. These are general circulation coins on which the obverse (Indian head) or reverse (buffalo) central device, sometimes the complete surface, has been re-carved by talented individuals. The result is a dramatic change from the coin's original appearance.

This branch of coin collecting, or specialization, on the numismatic tree is commonly referred to as Hobo Nickels because the great majority of such pieces were created by Hobos in the United States during the Great Depression. Their favorite coin-of-choice was the above mentioned Buffalo Nickel series.

But before some reader rushes to send me an email telling me about earlier re-carved coins of the U.S., U.K., South Africa, Spain, or several other countries, please note that I am aware of them. But this article is intended to explore U.S. Hobo Nickels. In truth, there is no evidence of when the first artistically inclined person decided he, or she, could re-work a coin's central device, for whatever reason, to either make the changed coin more attractive or comical.