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The date that very quickly ends the "with Rays" reverse design for the Shield Nickel Series (because of striking and die crack issues). Desirable issue with a relatively lower mintage with just a few million struck. Common through Mint State although gems become a bit more scarce up to MS67 at which point true rarity comes into effect.
Obverse Description
A shield flanked on the left and right by leaves topped with a cross with arrows positioned behind at the bottom so the arrow heads and shanks protrude at the sides. The motto IN GOD WE TRUST appears at the top periphery with the date positioned at the bottom center.
Reverse Description
A large numeral 5 surrounded by 13 stars centered in the design with UNITED STATES OF AMERICA * CENTS around the periphery. Straight lines, depicting rays of the sun, extended from the numeral to between the stars. The rays were removed in 1867.
Book Reference
Key to Collecting: The 1867 With Rays nickel is basically scarce, and it has been recognized as such for a long time. However, in the modern era of emphasis on condition rarity, and with relatively few truly choice high-grade examples around, this variety suffers from lack of publicity. Quality is a problem when you find one. As with the 1866, there are usually problems with sharpness, and many coins are dull. Over a long span of years, I have seen only a handful of coins that truly combine a high grading number with sharply struck details and good eye appeal. A choice Mint State 1867 With Rays is, in a word, a sleeper. However, coin for coin, the 1867 With Rays has a higher average quality than do the nickels of 1866.
The 1867 With Rays Proof (illustrated above) is a classic rarity. Probably no more than several dozen or so are known; there are some prooflike Mint State coins that have been mistakenly called Proofs. The mintage is unknown. Students of the series have given many opinions, including the statement that no Proofs at all were struck until several years later. John Dannreuther, who has studied the die technicalities, has demonstrated that Proofs were struck on several runs. Per the same authority, an estimated 15 originals were made in 1867, plus perhaps three or more times that many were made on at least five later production sequences.2 Likely, dealers with close connections to the Mint—John W. Haseltine being the prime example—simply ordered more Proofs as needed for store stock. The depth and breadth of such restriking is just now beginning to be appreciated, with new leading-edge scholarship by Dannreuther and others.
For Proofs, quite a few grading events (not necessarily different examples) have been reported by the grading services—numbers that would have been impossible to believe a few decades ago.
CIRCULATION STRIKES:
Characteristics and Appearance: Usually fairly well struck, better than the typical 1866 of this type. Points to check for weakness include the horizontal lines in the shield and, on the reverse, the centers of the stars. Nicks on areas that are lightly struck are likely from the surface of the original planchet. All circulation strikes have Reverse Style B, as do Proofs.
Mintage and Distribution Notes: The widely published mintage figure for this issue is an estimate by R.W. Julian, per this commentary contributed to the present work:
The coiner notified Mint Director William Millward that he proposed to change the design on February 1, 1867, but we do not know if this was done on that exact day. As a result the best we can do is estimate the number of Shield nickels with rays struck in 1867 at 2,019,000, the number coined in the month of January. This leaves 28,890,500 as the number of 1867 nickels coined without rays on the reverse. The average for the last 11 months of 1867 is a very creditable 2.6 million pieces per month, which was the best monthly average (in a given year) until 1906, nearly 40 years later. It also shows the great public demand for the new coin.
VARIETIES:
Repunched Date (Nickel over Dime Logotype)—FS-301, F-08. The most dramatic variety shows the final date of 1867 flanked by a 1 to its left and a 7 to its right. Howard Spindel, in the Shield Nickel Viewer, confirmed that this is a Small Date (regular for nickels of this year) logotype punched over a Large Date intended for a Liberty Seated dime. The telltale overlay is shown at right.3
Repunched Date—Several varieties of repunched dates are known. The Fivaz-Stanton and Fletcher texts give descriptions, as does the Shield Nickel Viewer. Another interesting variety, FS-303, F-02, seems to have as an underdate an impression from a smaller-date logotype with a more delicate 7, but it is usually attributed simply as a repunched date.
Misplaced Date—On FS-304, F-01, URS-1, the base of the 1 in 1867 appears outside the ball at lower left. As Fivaz and Stanton note, “To date, this is still a unique example. Hundreds of dedicated Shield nickel enthusiasts are looking for this variety.”
Catalog Information
GSID:
2869
Designer:
James B. Longacre
Obverse Designer:
James B. Longacre
Obverse Lettering:
IN GOD WE TRUST, 1867
Reverse Designer:
James B. Longacre
Reverse Lettering:
5, UNITED STATES OF AMERICA, CENTS
Weight (gr):
5 gr
Weight (oz):
0.1608 oz
Strike Type:
Business
Diameter:
20.5
Coin Shape:
Round
Edge:
Plain
Variety:
Rays
Coin Date:
1867
Denomination:
5c
Designation:
MS
Mint Location:
Philadelphia
Mintage:
2,019,000
Coinage Type:
Shield nickel
Coinage Years:
1866-1867
Composition:
75% copper; 25% nickel
PCGS #:
3791
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Coin Value History
1867 5c Rays MS
Value By Grade
1867 5c Rays MS
CPG (retail) values
Currency
Grade Range
Grading Authority
Sort by
Pricing
Values
Greysheet & CPG® Values
| Grade | CAC | CPG Value (Retail) | Greysheet Price (Wholesale) |
|---|---|---|---|
| MS67 |
|
$43,000 | $1,234 |
| MS67 | - | $36,000 | $1,234 |
| MS66 |
|
$1,234 | $1,234 |
| MS66 | - | $1,234 | $1,234 |
| MS65 |
|
$1,234 | $1,234 |
| MS65 | - | $1,234 | $1,234 |
| MS64 |
|
$1,234 | $1,234 |
| MS64 | - | $1,234 | $1,234 |
| MS63 |
|
$1,234 | $1,234 |
| MS63 | - | $1,234 | $1,234 |
| MS62 |
|
$1,234 | $1,234 |
| MS62 | - | $1,234 | $1,234 |
| MS61 |
|
$1,234 | $1,234 |
| MS61 | - | $1,234 | $1,234 |
| MS60 |
|
$1,234 | $1,234 |
| MS60 | - | $1,234 | $1,234 |
| AU58 |
|
$1,234 | $1,234 |
| AU58 | - | $1,234 | $1,234 |
| AU55 |
|
$1,234 | $1,234 |
| AU55 | - | $1,234 | $1,234 |
| AU53 |
|
$1,234 | $1,234 |
| AU53 | - | $1,234 | $1,234 |
| AU50 |
|
$1,234 | $1,234 |
| AU50 | - | $1,234 | $1,234 |
| XF45 |
|
$1,234 | $1,234 |
| XF45 | - | $1,234 | $1,234 |
| XF40 |
|
$1,234 | $1,234 |
| XF40 | - | $1,234 | $1,234 |
| VF35 |
|
$1,234 | $1,234 |
| VF35 | - | $1,234 | $1,234 |
| VF30 |
|
$1,234 | $1,234 |
| VF30 | - | $1,234 | $1,234 |
| VF25 |
|
$1,234 | $1,234 |
| VF25 | - | $1,234 | $1,234 |
| VF20 |
|
$1,234 | $1,234 |
| VF20 | - | $1,234 | $1,234 |
| F15 |
|
$1,234 | $1,234 |
| F15 | - | $1,234 | $1,234 |
| F12 |
|
$1,234 | $1,234 |
| F12 | - | $1,234 | $1,234 |
| VG10 |
|
$1,234 | $1,234 |
| VG10 | - | $1,234 | $1,234 |
| VG8 |
|
$1,234 | $1,234 |
| VG8 | - | $1,234 | $1,234 |
| G6 |
|
$1,234 | $1,234 |
| G6 | - | $1,234 | $1,234 |
| G4 |
|
$1,234 | $1,234 |
| G4 | - | $1,234 | $1,234 |
| AG3 |
|
$1,234 | $1,234 |
| AG3 | - | $1,234 | $1,234 |
Shield Nickel 5c Rays, 1866-1867 MS [Type]
![Shield Nickel 5c Rays, 1866-1867 MS [Type]](https://images.greysheet.com/ctc/catalog/raysMS.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $15 – $36,000
1866 5c Rays MS
Worth: $15 – $36,000
1866/1866 5c Rays, Repunched Date MS
Worth: $150 – $14,400
Shield Nickel 5c No Rays, 1867-1883 MS [Type]
![Shield Nickel 5c No Rays, 1867-1883 MS [Type]](https://images.greysheet.com/ctc/catalog/noRaysMS.jpg?MaxWidth=200&Mode=Pad&Scale=UpscaleCanvas&format=webp)
Worth: $13 – $2,592
1867 5c No Rays MS
Worth: $13 – $10,800
1868 5c MS
Worth: $13 – $9,600
1869 5c MS
Worth: $13 – $6,000
1870 5c MS
Worth: $15 – $2,200
1871 5c MS
Worth: $45 – $12,600
1872 5c MS
Worth: $25 – $12,600
1873 5c Closed 3 MS
Worth: $30 – $4,800
1873 5c Open 3 MS
Worth: $18 – $3,250
1873 5c Large/Small 3, Open 3, FS-1301 MS
Worth: $6,000 – $19,000
1873 5c Doubled Die Obverse MS
Worth: $70 – $3,000
1874 5c MS
Worth: $19 – $2,640
1867 5C Rays, AU58 PCGS. PCGS Population: 98 in 58 (1 in 58+), 484 finer (11/25). CDN: $360 Whsle. Bid for NGC/PCGS AU58. M...
$537
1867 5C Rays, AU50 PCGS. PCGS Population: 51 in 50, 708 finer (12/25). CDN: $210 Whsle. Bid for NGC/PCGS AU50. Mintage 2,01...
$252
1867 5C Rays MS63 PCGS. CDN: $560 Whsle. Bid for NGC/PCGS MS63. Mintage 2,019,000. ...
$660
1867 5C Rays MS64 PCGS. Mintage 2,019,000. ...
$1,440
1867 5C Rays MS66 NGC....
$3,840
1867 5C Rays AU53 PCGS. PCGS Population: (42/636). Mintage 2,019,000. ...
$312
1867 5C Rays AU55 PCGS. PCGS Population: (78/559). Mintage 2,019,000. ...
$312
1867 5C Rays MS65 PCGS. CAC....
$3,960
1867 5C Rays XF45 NGC. NGC Census: (25/601). PCGS Population: (62/723). CDN: $180 Whsle. Bid for NGC/PCGS XF45. Mintage 2,0...
$216
1867 5C Rays MS62 PCGS. PCGS Population: (76/367). NGC Census: (65/344). CDN: $425 Whsle. Bid for NGC/PCGS MS62. Mintage 2,...
$408
1867 5c PCGS F15 (With Rays)
$123
1867 5C Rays XF40 PCGS. PCGS Population: (41/760 and 0/9+). NGC Census: (17/604 and 0/1+). CDN: $160 Whsle. Bid for NGC/PCG...
$164
1867 5C Rays, Doubled Die Obverse, Repunched Date, FS-302, VF35 PCGS. (FS-002.4). PCGS Population: (1/5). NGC Census: (0/1...
$372
1867 5C Rays VF30 NGC. NGC Census: (8/591). PCGS Population: (21/744). CDN: $90 Whsle. Bid for problem-free NGC/PCGS VF30. ...
$69
1867 5C Rays MS61 ANACS. NGC Census: (25/393). PCGS Population: (8/404). CDN: $350 Whsle. Bid for problem-free NGC/PCGS MS6...
$312
1867 5C Rays -- Cleaned -- ANACS. MS60 Details. NGC Census: (2/398). PCGS Population (6/376). Mintage: 2,019,000. CDN Wsl. ...
$176
1867 5C Rays VF20 NGC. NGC Census: (1/535). PCGS Population (6/601). Mintage: 2,019,000. Numismedia Wsl. Price for problem ...
$76
1867 5C Rays -- Spots Removed -- Genuine PCGS. Mintage: 2,019,000. (#3791)...
$126
1867 5C Rays VG10 PCGS. PCGS Population (3/457). NGC Census: (0/443). Mintage: 2,019,000. Numismedia Wsl. Price for NGC/PCG...
$39
1867 5c Rays PCGS FR-2
$84
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