Perscheid was born as Nikolaus Perscheid in near Koblenz, Germany, where he also went to school. At the age of 15, he began an apprenticeship as a photographer. Subsequently, Perscheid earned his living as an itinerant photographer; he worked, amongst other places, in Saarbrücken, Trier, and Colmar, but also in Nice, Vienna, or Budapest. In Klagenfurt in Austria he finally found a permanent position and on 1 March 1887, he became a member of the Photographic Society of Vienna ("Wiener Photographische Gesellschaft"). In 1889, he moved to Dresden, where he initially worked in the studio of Wilhelm Höffert (1832–1901), a well-known studio in Germany at that time, before opening his own studio in Görlitz on 6 June 1891. The next year he was appointed court photographer at the court of Albert, King of Saxony. In 1894, Perscheid moved to Leipzig.