The unprecedented crossover underscores his personal efforts to combat “grade inflation.”
Edited and reused 1882 dies led to the lone popular overdate variety in the Shield Nickel Series. It is scarce in all grades, especially in Mint State. Gems are certainly rare for the 1883/2 Shield Nickel. There are at least five dies with the overdate but the most scarce and desirable one by far is the FS-301.
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.
Book Reference
Key to Collecting: There are five known 1883 dies that show traces of an earlier 1882 date.41 Dies for the 1882 were held over and overpunched with a four-digit 1883 logotype. The varieties, described below, vary in their clarity and, thus, in their appeal to casual collectors of Shield nickels. If you opt to acquire just one, FS-301 is the most dramatic and commands the greatest premium. If you are a dyed-in-the-wool die-variety collector, then all may appeal. The varieties that are not boldly overdated sell for lower premiums.
This variety was a favorite to cherrypick among regular nickels in the 1950’s, for it was not widely publicized until the 1960’s. A feature in “Collectors’ Clearinghouse,” Coin World, November 14, 1973, provided illustrations of different dies and further advanced the interest. However, consistency of certification attributions did not occur until the 1990’s. Accordingly, in the marketplace in the past, the vast majority of 1883, 3 Over 2, overdates were listed as regular issues.
Today, finding a nice 1883, 3 Over 2, is doable, but not easily accomplished. The key is the sharpness of the overdate feature, not the details of the rest of the coin. Any grade from Extremely Fine upward is viewed as very desirable.
CIRCULATION STRIKES:
Characteristics and Appearance: Usually seen in worn grades. Mint State coins are usually well struck and with a satiny luster. Howard Spindel, who has made a specialty of the overdate, offers this cautionary note:
Beware of 1882 shield nickels with a filled in blobby 2, as these are very frequently offered as 1883/2. This is possibly the single most misunderstood coin in all U.S. coinage. The 1883 logotype is wider than the 1882 logotype, and the blobby 2 coins are of the narrower logotype.42
Mintage and Distribution Notes: The circulation-strike mintage for 1883 Shield nickels was 1,451,500. Sixty-one obverse dies of this date were eventually destroyed; if all were used in striking, this equals 23,795 impressions per obverse die. Four to possibly five or six overdate dies are known today; if, say, five are assumed, this suggests an overdate mintage of 23,795 x 5, or 118,975. Although such figures imply precision, they are hardly precise. Perhaps in the press run, one obverse cracked after 5,000 impressions, and another lasted through 35,000. However, for purposes of estimation I use 118,975 as the mintage figure, and deduct the same amount for the mintage of “perfect date” 1883 Shield nickels next listed.
From Howard Spindel:
Based on the populations of varieties, I’ve been able to derive a general rule of thumb that says survival rates for any particular Shield nickel die approximate 1/10 of 1%. The figure will be somewhat higher in later years, such as for the 1883/2, but I believe only 2–3 times higher. These survival estimates do not include coins so worn as to be non-collectable.43
VARIETIES:
The 1883, 3 Over 2 varieties are priced collectively at the end of the listing.
1883, 3 Over 2—FS-301, B-2524, F-08, PM-18V.4. This is the most dramatic of the overdates and is unequivocal. It is also the rarer of the two clearest 1883, 3 Over 2, die varieties.44 An unused 1882 die was overpunched with a four-digit 1883 date logotype. The left two-thirds of the 2 can be seen at the left edge of the 3. This particular die was known to specialists in the 1950’s, and I recall looking for them. However, the overdate was not listed in popular references, and few were aware of its existence. Accordingly, examples could be purchased for the same price as regular 1883 coins. The corollary is that once such a coin was found, customers for it were scarce.
1883, 3 Over 2—FS-302, B-2523, F-09, PM18V.2. The lower left of the original 2 is clearly seen extending from the lower left of the 3. In my opinion, this is the second most desirable overdate die from the standpoint of clarity. This die eventually shatters, with a large crack mostly above and to the left and right of the date. Once considered to be quite rare, as additional examples have come to light it is now the most often seen of the three varieties listed by Breen. The rarity of certain other dies has not been studied in detail.
1883, 3 Over 2—FS-303, B-2526, F-10, PM18V.3. To create this die it seems that the 1882 date was partly ground off, then 1883 was punched over it. The 1 of the 1882 and the 1883 were aligned, but the 1882 date is so much narrower than the 1883 that the 2 is between the 8 and the 3. The 2 is discernible, but light, and traces of other, earlier digits can be seen as well. The obverse die later shattered.
1883, 3 Over 2—FS-304, F-08.01. Remnants of a 2 can be seen between the 8 and the 3 in a position similar to that of FS-301. This variety is difficult to see, requiring one to tilt the coin in the light to catch the very low relief of the overdate. As a recent discovery, its availability is still under study. Frequently found in very high grades, reportedly from a roll that surfaced in Southern California sometime within the last few years.
1883, 3 Over 2—FS-305, F-07, URS-3. Traces of something, suggested to be a 2, within the 3, but there is no trace of the lower left of the 2 that would be expected if this were an overdate. The first 8 shows repunching in the upper interior. An early die state shows definite “feet” of the 2 below the 3. Early die states are probably rare, as Howard Spindel has found only one.45 Late die states, which are unremarkable to look at, seem to be reasonably available.
1883, 3 Over 2—Tentative attribution PM-18V.1. Has what seems to be a very light outline of the base of a 2 between the 8 and the 3, closest to the 8. This may be the same as FS-303.46 More study is needed.
Catalog Information
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Values
| Grade | CAC | CPG Value (Retail) | Greysheet Price (Wholesale) |
|---|---|---|---|
| MS67 |
|
$21,500 | $1,234 |
| MS67 | - | $18,000 | $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 |
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