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The Jefferson nickel has been the five-cent coin struck by the United States Mint since 1938, when it replaced the Buffalo nickel. From 1938 until 2004, the copper-nickel coin's obverse featured a profile depiction of founding father and third U.S. President Thomas Jefferson by artist Felix Schlag; the obverse design used in 2005 was also in profile, though by Joe Fitzgerald. Since 2006 Jefferson's portrayal, newly designed by Jamie Franki, faces forward. The coin's reverse is still the Schlag original, although in 2004 and 2005 the piece bore commemorative designs.
First struck in 1913, the Buffalo nickel had long been difficult to coin, and after it completed the 25-year term during which it could only be replaced by Congress, the Mint moved quickly to replace it with a new design. The Mint conducted a design competition in early 1938, requiring that Jefferson be depicted on the obverse, and Jefferson's house Monticello on the reverse. Schlag won the competition, but was required to submit an entirely new reverse and make other changes before the new piece went into production in October 1938.
As nickel was a strategic war material during World War II, nickels coined from 1942 to 1945 were struck in a copper-silver-manganese alloy which would not require adjustment to vending machines. They bear a large mint mark above the depiction of Monticello on the reverse. In 2004 and 2005, the nickel saw new designs as part of the Westward Journey nickel series, and since 2006 has borne Schlag's reverse and Franki's obverse. In June 2002, Mint officials were interested in redesigning the nickel in honor of the upcoming bicentennial of the Lewis and Clark Expedition. They contacted the office of Representative Eric Cantor (Republican-Virginia). Cantor had concerns about moving Monticello, located in his home state, off the nickel, and sponsored legislation which would allow the Mint to strike different designs in 2003, 2004, and 2005, and again depict Monticello beginning in 2006.[22] The resultant act, the "American 5-Cent Coin Design Continuity Act of 2003", was signed into law on April 23, 2003. Under its terms, the Treasury Secretary could vary the nickel's designs in honor of the 200th anniversary of the Expedition and of the Louisiana Purchase, but the nickel would again feature Jefferson and Monticello beginning in 2006.[23] Under Cantor's legislation, every future five-cent coin will feature Jefferson and Monticello.[24]
In November 2003, the Mint announced the first two reverse designs, to be struck with Schlag's obverse in 2004.[25] The first, designed by United States Mint sculptor-engraver Norman E. Nemeth, depicts an adaptation of the Indian Peace Medals struck for Jefferson. The second, by Mint sculptor-engraver Alfred Maletsky, depicts a keelboat like that used by the Expedition.[26]
Monticello returned to the reverse of the Jefferson nickel in 2006
The 2005 nickels presented a new image of the former President, designed by Joe Fitzgerald based on Houdon's bust of Jefferson.[27] The word "Liberty" was taken from Jefferson's handwritten draft for the Declaration of Independence, though to achieve a capital L, Fitzgerald had to obtain one from other documents written by Jefferson.[28] The reverse for the first half of the year depicted an American bison, recalling the Buffalo nickel and designed by Jamie Franki. The reverse for the second half showed a coastline and the words "Ocean in view! O! The Joy!", from a journal entry by William Clark, co-leader of the Expedition.[27] Clark had actually written the word as "ocian", but the Mint modernized the spelling.[28]
The obverse design for the nickel debuting in 2006 was designed by Franki. It depicts a forward-facing Jefferson based on an 1800 study by Rembrandt Peale, and includes "Liberty" in Jefferson's script. According to Acting Mint Director David Lebryk, "The image of a forward-facing Jefferson is a fitting tribute to [his] vision."[29] The reverse beginning in 2006 was again Schlag's Monticello design, but newly sharpened by Mint engravers.[30] As Schlag's obverse design, on which his initials were placed in 1966, is no longer used, his initials were placed on the reverse to the right of Monticello.[31]
In 2009, a total of only 86,640,000 nickels were struck for circulation.[32] The figure increased in 2010 to 490,560,000.[33] The unusually low 2009 figures were caused by a lack of demand for coins in commerce due to poor economic conditions.[34]