Lot 916
1866. PCGS graded MS-66. Well struck and mostly untoned for this first year of issue of the coin that became known as a "nickel" because of the unsual composition of copper (75%) blended with nickel alloy (25%). These circulated side by side with the half dime of silver. After the Civil War, when these Shield nickels were first issued, most of the silver and gold coins had vansihed from circulation. When the war ended in 1865, these coins remained tucked away and actually traded at a premium over the paper money in circulation. Hence, the copper-nickel allow of this five cent coin carried no premium as did the silver half dime. Thus, these actually circulated and there was great need for merchants to be able to make small change. As the first year of issue this 1866 nickel was clearly set aside and carefully saved. In fact it is one of the finest seen by PCGS and offers excellent surfaces and a sharp strike.Pop 38; 2 finer in 66+ (PCGS # 3790) .
Estimated Value $3,000 - 3,250.
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| Realized $4,113 |
