Lot 542
1866 Shield Nickel. PCGS graded Proof 66 Cameo. Lovely rainbow toning on both sides. A foundation of the United States' circulating coinage today, the nickel five cent piece was not introduced until 1866. It took the Civil War, and the monetary disruption that accompanied that war, to lead the federal government to strike a nickel five cent coin. It's issue was needed to help retire the fractional currency notes notes that had circulated during the war. Congress authorized a nickel coin of the this denomination with the Mint Act of May 16, 1866.
James Barton Longacre designed the shield nickel, and his initial design includes reverse rays between the stars that encircled the denomination. The Mint dropped the rays in 1867 because they caused striking problems and shortened die life. Proofs were struck in 1866 and in 1867 using the Rays design, and Breen (1977) states that approximately 125-175 coins were struck in the former year; others push this figure to 200 which is still a low mintage. This is a beautifully toned Gem Proof which has been carefully handled and now rests in a solid, accurately graded PCGS holder. Pop 29; 3 in 67 Cam. (PCGS # 83817) .
Estimated Value $7,000 - 9,000.
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| Realized $8,050 |
