Shield Nickel 5c Rays, 1866-1867 PR DCAM [Type]

Designer: James B. Longacre. Weight: 5 grams. Composition: .750 copper, .250 nickel. Diameter: 20.5 mm. Edge: Plain. Mint: Philadelphia.

Key to Collecting: Nickel five-cent pieces of the Shield type With Rays were made only in 1866 and early in 1867. Great problems developed with striking the design details properly, and it was thought that the rays contributed to the situation, taking metal flow that might be used to fill in the obverse shield details. Accordingly, the rays were dropped in early 1867, isolating this as a short-lived type. 1866 Shield nickels are fairly plentiful, and VF to AU coins can be found easily. Nearly all are weakly struck in one area or another. Accordingly, finding a choice one will require patience. Most are in lower grades, MS-60 to MS-63. Choice specimens of the 1867 With Rays are rare; gems are elusive, and if sharply struck with smooth, high-quality fields, are quite rare.

Aspects of Striking and Appearance: Usually with areas of light striking. Key areas for inspection include the horizontal stripes in the shield, the leaves in the wreath, and on the reverse, the centers of the stars. Coins struck from well-used dies are apt to have grainy or irregular fields. Die cracks are seen on most coins (and do not affect the value one way or the other, and in some instances can be interesting to observe).

Proof Coins: Proofs are very rare. Single Proofs were available for 10¢ each from the Mint in 1866, but it seems that little notice was taken of them. Of the 1867 With Rays, it is likely that fewer than two dozen Proofs are known—a classic rarity. Proofs are usually well struck and fairly attractive, but there are exceptions, and it will pay to study carefully any piece offered.