Lot 775
1867 Shield Nickel. Rays. PCGS graded Proof 64 Cameo. Well struck and mostly untoned. Approx 25 struck. Key date to this series in Proof. Exceedingly choice for the grade. Indeed, this is an outstanding specimen of one of the most celebrated of all 19th century American Proof rarities, a coin that shares the limelight with the 1864-L Proof Cent, the 1864 Small Motto Two-cent Piece, and, to a lesser degree, the 1884 and 1885 Proof Trade dollars, all of which are famous American rarities.
Given the somewhat obscure state of affairs with the making of these Proofs, the contradictory mint records, there is no way of knowing with certainty how many Proof 1867 With Rays five-cent pieces were made. Breen (1977), as well as Peters and Mohon (1993), assert that the total lies in the neighborhood of 15-25 pieces. (The Guide Book estimate is "25+.) This piece is the foremost rarity in the Proof Shield nickel series by far, as well as one of the rarest nickel five-cent pieces of any year in the history of that denomination, 1866 to the present.
We are pleased to offer an example whose exemplary untoned surface is thoroughly glittering. Observers have noted that unlike the 1866 With Rays pieces, there is no center dot on either side of the 1867 With Rays Proof. Each leaf vein, every shield stripe and crossbar, every star is boldly struck and detailed. The cameo devices give it a beautiful two-tone appearance, with smooth, unruffled frost right through the devices, including the plateaus on the letters and on all of the stars & rays on the reverse.
The present example is clearly one of the finest available and easily merits the Choice Proof designation. A marvelous opportunity for the specialist. Pop 4; 3 in 65 Cameo; 4 in 66 Cameo. (PCGS # 83818) .
The Act of May 17, 1866 prohibited further issue of paper currency in denominations less than ten cents and provided for the issue of nickel five-cent pieces. As a result, a large number of Patterns were made for this denomination in 1866 and 1867. The obverse designs include a shield copied from that used on the two cent piece, different designs of the head of Washington and one of the head of Lincoln. These were combined with a variety of reverses. The final choice was this handsome Shield with Rays die pairing. Alas, the design, due to manufacturing difficulties, lasted less than a calendar year! It was the mint's chief engraver, James Barton Longacre, who designed the Shield nickel, modeling it upon his equally simple but elegant Two-cent piece which the Mint had introduced to the public two years before.
Estimated Value $60,000 - 65,000.
|
| |
| Unsold |
