1880 5c PR

Key to Collecting: The 1880 Shield nickel is a rarity in Mint State and in all circulated grades, but in Proof finish it is one of the more abundant issues in the series. Mint State coins are exceedingly rare, but the number known will never be determined with certainty, for Proof dies were used to make circulation strikes as well. (See the notes below.)

Across all grades, the 1880 is the rarest circulation-strike Shield nickel, even allowing for the many misattributed Proofs listed in that category. There was no need for additional nickels for circulation, and it is likely that Mint Director A. Loudon Snowden ordered a small production simply to avoid creating rarities (as had been done in 1877 and 1878). He also did this for current silver denominations (dime, quarter, and half dollar), which were similarly unneeded. R.W. Julian adds this comment, based upon Mint archives: “Snowden specifically asked the Mint Bureau and Treasury for permission to strike limited runs of nickels and three-cent pieces so that collectors of small means, and those needing coins for presents, could obtain them. Applicants were limited to two pieces each, however.”33

When buying an 1880, likely as not you will acquire a Proof. Most are deeply mirrored and have good eye appeal.

Characteristics and Appearance: For reasons given below, Mint State coins closely parallel Proofs in appearance and are easily confused, even by professional graders.

Mintage and Distribution Notes: In 1880 the nickel five-cent piece was still redundant, due to the flood of long-stored silver coins that had been released into circulation beginning in a significant way on April 20, 1876. The mintage for circulation strikes reached a nadir this year. The 1880 has the lowest circulation-strike mintage for any date in the nickel five-cent series from 1866 to the present day.

John Dannreuther, Douglas Kurz, Howard Spindel, and I believe that for certain unquestioned circulation strikes, the reverse has these characteristics: upper left outside of the first S in STATES repunched, tiny raised “island” in the field below T of the same word (from die pitting), and a tiny line or thorn projecting into the field from the center of a denticle below the space between the T and S of CENTS.34 This reverse, which we have seen only with a satiny (not Proof) surface, and never with a mirrored edge may be the key to identifying circulation issues. It exists in combination with the obverse used on Breen-2516 (first 8 grazes ball; interior of second 8 with repunching).

Only two obverse dies were produced for 1880, and both were used intermittently for circulation and Proof strikes. However, the use of a reverse die or die state other than that described above (with “island,” “thorn,” etc.) does not mean a coin is automatically a Proof. If such a coin is found with frosty surfaces and a nonmirrored edge, it, too, may be a circulation strike. The situation has not been completely resolved, but all coins with the die markers just mentioned seem to be circulation strikes.

Many Proofs have a “pebbly” aspect to the field on the reverse (see notes under “Proof Strikes”); it is thought that any coin with this pebbly Proof surface is excluded from the possibility of being a circulation strike.

As to how many Proofs may have been certified as circulation strikes, the study of certification data for related nearby dates has been informative.

Characteristics and Appearance: Deep mirror surface is the rule, but often with a slightly pebbly characteristic. This is best seen when a coin is held at an angle, reflect- ing the light into the viewer’s eye. This may have been caused by resurfacing a die to remove roughness or rust.35 Some have slight weakness in the horizontal shield stripes (not that most people would notice). Proofs used special planchets and were struck with a collar that imparted a deep mirror Proof finish to the edge (when viewed edge-on). B-2515 and B-2516 in combination with a mirrored reverse die with the perfect first S in STATES, no “island” below the T, and no thorn in the denticles at the lower rim.