Vic's Picks
5c SHIELD, WITH RAYS 1866-67


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Coin Details

  

Set Details
Origin/Country:
Design Description:
Item Description:
Grade: PCGS MS 64
Owner: EZ_E
 
Winning Set: Vic's Picks
Date Added: 10/6/2006
Research: Currently not available

Owner's Description

A $900 purchase from IGWT (Lou). <br /><br />This is a two year type coin which places a demand upon this type. The 1866 coin had a mintage of 14,742,500 compared with but 2,019,000 for 1867. Yet, they are both similarly priced.<br /><br />This issue rarely comes fully struck so a specimen such as the one shown is truly a bonus.<br /><br />The Shield Nickel's compostion is identical to that of the three cent nickel that was first issued the year before in 1865. The Civil War period was responsible for the hoarding of most US coinage which led to the production of these new types.<br /><br />Nickel was a fairly new alloy for the US Mint and it was a harder metal than the mint was accustomed to striking. This taxed the die presses of the time and led to numerous die breaks. Such die cracks and breaks are evident on my example shown below. This led to the removal of the rays on the coin's reverse in the hope to prolong die life. This change took place in 1867 resulting in two nickel varieties for that year. The without rays design lasted until 1883 when it was replaced by the Liberty Nickel.<br /><br />"The '67 w/rays constitute about 7% of the total 5c production of that year (the remainder, of course, being w/o rays). The relative scarcity of the '67 w/rays puts a lot of pressure on the '66 w/rays (it was a 2-year type); so, although the '67 trades at a premium, the difference in price is less than one would suspect. The '67 w/rays often presents an opportunity to buy good value, as Tom would say."<br /><br />Quote from IGWT<br /><br />http://boards.collectors-society.com/showflat.php?Cat=0&Number=1431968&page=0&vc=1&PHPSESSID=#Post1431968<br /><br />***********************<br />1866 FIVE CENTS<br />***********************<br /><br />Mintage:<br />Circulation strikes: 14,742,500<br />Proofs: est. 500<br /><br />Designer: James B. Longacre<br /><br />Diameter: 20.5 millimeters<br /><br />Metal content:<br />Copper - 75%<br />Nickel - 25%<br /><br />Weight: 5 grams<br /><br />Edge: Plain

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