Lot 392
1866 Shield Nickel. PCGS graded Proof 65. A nice example free of black spots. Only 600+ proofs struck for this first year type. A coin that was produced at a time when the mint was desperately trying to catch up with the huge demand for small coinage after the American civil war. The use of nickel instead of unavailable silver (which was being hoarded at the time) was the decision rendered by the powers that be. James Barton Longacre quickly designed the new coin and had patterns struck for various congressmen. Upon striking only a few coins the dies were found to crack. Longacre determined that the rays were a contributing factor to this rapid die deterioration, and so eliminated them after only a small number were struck in 1866-67. The Proofs of this type are well known for their rarity.
An incandescent and sparkling toned gem Proof whose reflective beauty comes with fully defined design features plus a torrent of varying golden and nickel-gray hues on both sides (PCGS # 3817) .
Estimated Value $3,400 - 3,600.
The Mark Gordon Collection.
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| Realized $3,450 |
