Lot 827
1866. NGC graded MS-65. An untoned gem of the popular "Rays" two-year type. A coin that arrived at a time when the mint was in need of striking coins for the huge new demand for small change after the Civil War. The use of nickel was made almost mandatory due to silver's scarcity (which was being hoarded at the time). James B. Longacre 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, as are Gem Mint States like the coin featured in this Lot. Pop 160; 25 in 66.
Estimated Value $1,500 - 1,600.
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| Realized $1,740 |
