Hobo Nickel Collection Sells for Over $100,000

The Candace D. Kagin collection auction featured 137 lots of carved coins on Sept. 28.

Updated on Oct. 15, 2026 in Collecting

Gouache-painted illustration of a single hand-carved nickel coin on a wooden surface, representing historical American folk art. — The Candace D. Kagin hobo nickel collection sold for over $100,000 at auction, highlighting the historical significance of 20th-century folk art. AI Illustration. Upload story photo >

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Would you consider purchasing historical artistic collectibles like carved coins as an investment?

On Sept. 28, a significant collection of hobo nickels once belonging to Candace D. Kagin was sold at auction, generating over $100,000 in total sales. The event featured 137 lots, with proceeds partially supporting the Original Hobo Nickel Society.

Why it matters

These carved coins represent an artistic tradition that emerged during the economic hardships of the early 20th century, when individuals transformed currency into barter items for survival. This sale helps preserve and recognize the history of this unique American folk art.

The auction sold 137 lots, including an Indian Head 5-cent coin by Bertram Wiegand for $11,100 and a portrait titled Monique for $6,270. A 20% buyers' fee was applied to final prices, with 5% of the hammer price donated to the Original Hobo Nickel Society.

The players

Candace D. Kagin

She was a dedicated numismatist who spent 24 years curating a collection of more than 600 hobo nickels.

Bertram Wiegand

He is a noted artist whose carved Indian Head 5-cent coin realized a price of $11,100 at the recent auction.

George Washington Hughes

He is a recognized carver of hobo nickels whose work, including a piece titled Monique, remains highly sought after by collectors.

Original Hobo Nickel Society

This organization promotes the research and appreciation of carved nickels, receiving a donation from the auction proceeds.

The details

Artists originally created these pieces during the 1920s using crude tools to carve Indian Head 5-cent coins into intricate portraits and designs. Bidders participated in the recent sale online to acquire pieces from a collection amassed over 24 years.

The hobo nickel tradition began in earnest during the 1920s.
The auction of the Candace D. Kagin collection occurred on Sept. 28.
A second auction session is tentatively slated for Jan. 25, 2027.
A third auction session is tentatively slated for Aug. 30, 2027.

Culture Shift

The high prices realized at this auction highlight the shift of hobo nickels from desperate survival barter tools during the 1920s Great Depression-era hobo art tradition to premium collectibles. This evolution demonstrates how modern collectors prioritize folk art provenance over the face value of currency.

Collectors interested in acquiring historical numismatic pieces should account for the 20% buyers' fee added to the final hammer price. Prospective buyers can track future auction dates to participate in upcoming sessions for the remainder of the collection.

The takeaway

The transformation of survival-era artifacts into high-value collectibles underscores the enduring historical appeal of folk art. Prospective collectors should focus on identifying artists like Bertram Wiegand to ensure long-term value in their portfolios.

What happens next

Kagin's Auction has scheduled two additional sessions to sell the remainder of the 600-piece collection. These follow-up sales are tentatively set for Jan. 25, 2027, and Aug. 30, 2027.