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Obverse of 1867 Shield Nickel - With Rays    Reverse of 1867 Shield Nickel - With Rays


1867 FIVE CENTS - WITH RAYS

PCGS Nos: 3791, 3818

Mintage:

Circulation strikes: 2,019,000
Proofs: est. 75

Designer: James B. Longacre

Diameter: 20.5 millimeters

Metal content:
Copper - 75%
Nickel - 25%

Weight: 5 grams

Edge: Plain

Mintmark: None (for Philadelphia)

Images courtesy of SuperiorGalleries

Notes:
The finest Uncirculated example graded by PCGS is a single MS-67.

The finest Proof examples graded by PCGS are 3 PR-66's.

The finest Proof Cameo examples graded by PCGS is are 2 PRCA-66's.

One 1867 "With Rays" Nickel variety (FS0992.1, F-08) has a Shield Nickel date logotype struck over a larger date logotype that was intended for a Seated Liberty dime (this was previously thought to be a triple-punched date).

Significant examples:
PCGS Proof-65.  Ex - Superior Galleries "Pre-Long Beach" Elite Coin Auction, May 25-27, 2003, Lot 2187, sold for $69,000.00

PCGS Proof-65 (illustrated above).  Ex - Superior Galleries' "Pre-Long Beach Sale", October 1-3, 2000, Lot 4207, illustrated, sold for $66,125.00,  where it was described as follows: "Population: 24, with 3 higher. A lovely example exhibiting light, natural color and classic nickel-gray sheen to the proof finish. The fields, which are mirrored, support raised, frosted devices in a way that collectors have come to describe as "cameo contrast". Each and every element in the design is sharp as a razor. From the small cross at the top of the shield to the small ball just above the date, complete definition; from the central 5 on the reverse to the 13 needle-sharp stars and interspersed rays, the same high quality prevails. It isn't know for certain how many Proofs were struck of the 1867 With Rays Type. All that is known is that Proofs of this variety were made in strictly limited numbers since the major portion of the issue was struck after January 21, 1867, the date No Rays Proof specimens began. There may be as few as 50 known, and all come from a single pair of dies. The reverse, unlike the 1866 Rays, does not have a center dot on Proofs of 1867 With Rays. The above census undoubtedly contains duplications, and the known number of gems is probably fewer. (PCGS holder 7620002)", sold for $66,125.00 - Legend Numismatics

Proof-64.  Ex - Bowers & Merena Galleries' "The Rarities Sale", January 3, 2001, Lot 103, illustrated, sold for $36,800.00  From the Pennsylvania Cabinet

"Choice Brilliant Proof".  Ex - Superior's section of Auction '89, 7/1989:519 - Stack's 12/2003:136, sold for $11,500.00

Recent appearances:
NGC MS-65.  Ex - Bowers and Merena Galleries' Robert W. Schwan Collection Sale, October 26-27, 2000, Lot 414, sold for $2,300.00

PCGS MS-63
- Heritage 08/2000:6763, $517.50 

Brilliant Uncirculated
- Stack's 09/2000:222, $345.00

Brilliant Uncirculated
- Merkin 03/1968:221
- Stack's "Taichert" 05/2001:112, $368.00

Sources and/or recommended reading:
"The PCGS Population Report, April 2005" by The Professional Coin Grading Service

"A Case of Wrong Logotype" by Howard Spindel, Letters, Numismatist, June 2005, page 14