Lot 759
1867 Shield Nickel. Rays. NGC graded Proof 66 Cameo. Housed in NGC holder #3210246-004. Well struck and fully white. Only 25+ Proofs minted.
Given the circumstances in which the Proofs were probably struck during this transition year, the actual mintage for the Proof 1867 Rays nickel is not known for certain. Peters and Mohon (1993) hold that the total is may be in the neighborhood of 15-25 pieces. What we do know is that this issue is the leading rarity in the Proof Shield nickel series, as well as among the rarest nickels of any type in the history of that beloved denomination (author Q. David Bowers even wrote a book about the five-cent piece in Put Another Nickel In).
The dazzlingly bright specimen that we are offering in this lot is a very sharply struck coin. Truth be told, there are absolutely no ill-defined features on either side, even the reverse star centrals exhibit crisp delineation. Mirrored reflectivity in the fields provides 100% contrast for the frosty finish of the devices. As benefits the NGC grade of Proof 66 Cameo, there are no distracting blemishes or carbon spots of any kind to distract attention. A planchet ripple (as made) in the reverse field through the U of UNITED should also help trace the provenance of this irrefutable rarity among U.S. Shield nickels. Pop 1; 1 finer in 66 star (PCGS # 3818) .
Historic note: There was a some interest in financial circles following the Civil War to introduce the metric system to the monetary system. Joseph Wharton's new nickel alloy coin seemed to fit in well with this idea. (Wharton owned a nickel mine at Lancaster Gap, Pennsylvania and stood to profit handsomely.)
In May 1866, legislation was enacted for a metric 5-gram copper-nickel five-cent piece. The artwork for the Shield nickel is by Chief Engraver James B. Longacre. For the obverse he used an American shield surmounted by a cross for decoration. The reverse had thirteen stars with rays between them, a favorite design of modern-day numismatists.
Estimated Value $110,000 - 120,000.
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