The Shield Nickel, With Rays, minted from 1866 to 1867, represents an important chapter in U.S. coinage history. This nickel marked the beginning of the five-cent piece as we know it today and was the first coin made from a nickel-copper alloy. For collectors, the short-lived “With Rays” design adds intrigue, rarity, and historical significance to this coin series.
Historical Background
The introduction of the Shield Nickel was driven by a need to replace silver coins that had disappeared from circulation during the Civil War. Congress passed legislation in 1866 authorizing the production of a five-cent coin made of a durable nickel-copper alloy. Designed by James B. Longacre, the Shield Nickel was the first five-cent coin to not contain silver and was introduced alongside the two-cent piece, also designed by Longacre.
Design Details
- Obverse: The obverse of the Shield Nickel features a heraldic shield at its center, symbolizing strength and unity. Above the shield is a cross, with two olive branches flanking it on either side. The motto “IN GOD WE TRUST” arches above the design, and the date appears at the bottom.
- Reverse: The reverse displays a large numeral “5” at the center, surrounded by 13 stars. Between the stars are six straight rays, which give this coin its “With Rays” designation. The inscription “UNITED STATES OF AMERICA” is around the edge, and the denomination “CENTS” is below.
Rarity and Collectibility
The Shield Nickel, With Rays, is a favorite among collectors because of its unique design and historical importance. Although these coins are not extremely rare, finding well-preserved examples can be challenging. The rays caused striking issues, often leading to weak details and surface irregularities.
Mintage Figures
- 1866: 14,742,500 minted
- 1867 (With Rays): 2,019,000 minted
Grading and Condition
Most surviving Shield Nickels, With Rays, are found in circulated condition, often with heavy wear or striking flaws. Coins in Fine (F) to Very Fine (VF) grades are more common, while coins in Extremely Fine (XF) or higher grades are significantly more valuable. Proof specimens were also struck for collectors, with sharp details and mirrored surfaces.
Value and Market Trends
The value of a Shield Nickel, With Rays, depends on its date, condition, and whether it is a proof or business strike.
- 1866 Shield Nickel: Circulated examples typically range from $30 to $200, with uncirculated specimens exceeding $500. Proofs can command $1,000 or more.
- 1867 (With Rays) Shield Nickel: Circulated examples start around $100 and can reach $500 in higher grades. Uncirculated coins and proofs can easily surpass $1,500.
Why Collect Shield Nickels, With Rays?
The Shield Nickel, With Rays, is more than just a collectible coin—it represents a pivotal moment in U.S. numismatics. Its short production run, striking challenges, and role as the first nickel-copper alloy five-cent coin make it an appealing choice for enthusiasts. Collectors appreciate the coin’s design, historical significance, and the challenge of finding high-quality examples.
Tips for Collectors
- Look for coins with sharp details on the shield and rays, as weak strikes are common.
- Consider adding a proof example to your collection to appreciate the intricate design in its full glory.
- Handle Shield Nickels carefully, as their composition makes them prone to scratches and discoloration.
Conclusion
The Shield Nickel, With Rays, is an essential addition to any collection of 19th-century U.S. coins. With its historical importance, unique design, and collectible appeal, this coin offers both a glimpse into the past and a rewarding challenge for numismatists. Whether you’re just starting or looking to expand your collection, the Shield Nickel, With Rays, is a piece of history worth pursuing.
FAQs
Why was the “With Rays” design discontinued on the Shield Nickel?
The rays caused minting issues such as die breakage, leading to their removal in mid-1867.
What makes the Shield Nickel, With Rays, valuable?
Its short production run, unique design, and historical significance make it a desirable coin for collectors.
How can I identify a Shield Nickel, With Rays?
Look for six rays between the stars on the reverse side of the coin, surrounding the numeral “5.”