1886 5c PR CAM

Key to Collecting: The 1886 nickel is generally ranked as the second-rarest Liberty Head nickel in the early series, with 1885 first. However, in Mint State, particularly at the gem level, the 1886 nickel eclipses the 1885 in rarity. High-grade (Very Fine to Mint State) examples are elusive across the board, as little numismatic notice was paid to the date until the 1930’s, by which time most had become well worn. Finding a sharply struck gem would be an accomplishment indeed! Mark Hooten adds this comment:

Paralleling the situation for 1885, most of the demand for high-grade nickels with the 1886 date is supplied by Proofs, which were made in a fair quantity.

Characteristics and Appearance: The striking is usually quite good. Some nickels are prooflike, but not mirrorlike enough to be mistaken for Proofs. The date logotype used on all dies (circulation strikes and Proofs) has the 1 too high in relation to the curved baseline of the following three digits, this being characteristic of other years in the 1886 to 1889 era. There were 101 obverse dies made. If all of them were used, each die would have made 33,000 impressions—a low figure that probably indicates many of the dies were never used (since dies were sometimes retired before they were overly worn, the number isn’t impossible).

Characteristics and Appearance: Most are well struck with Full Details, but a few have lightness on the highest parts of the hair. On the reverse, the ear of corn to the left of the ribbon bow also shows lightness.

Mintage and Distribution Notes: At least three obverse dies were used, one with the second 8 repunched, another with the last two digits slightly repunched. The making of multiple Proof dies for short production runs is unexplained, but is perhaps best exemplified by the use of at least five obverse dies in 1895 to coin just 880 examples.

Repunched Date—FS-301. Slightly repunched, date most noticeable at the top of the 6.