Shield Nickel

Like many other coins, the characteristics of the Shield Nickel were strongly influenced by popular behavior during the American Civil War. At that time, there was already a five-cent coin, i.e. the silver half-dime, already being used. However, the silver in the shield nickel coin made it highly attractive to wartime hoarders. True, there was also a supposedly equivalent paper currency denomination, but minting authorities did not consider it sufficiently reliable. Thus the copper-and-zinc shield nickel was born.

Shield Nickel (No Rays)

This shield nickel coin was three parts copper and one part zinc. As you would expect from the coin’s name, a large shield was emblazoned on its obverse side, below the now-commonplace motto, “In God We Trust,” and above the minting year. On the reverse side of shield nickel was a large 5 (the numerical symbol, not the word), surrounded by a round border of alternating stars and rays. Below this border was the word “Cents,” and above it were the words “United States of America.

Shield Nickel (With Rays)

Shield nickel coin’s design was to be revised soon after it was introduced. The rays proved problematic for 19th century minting technology, and were dropped in 1867. Before then, the rays looked blurry, and spoiled the look of shield nickel coin. This explains the high premium placed on a particular type of shield nickel: one with clearly-defined rays, minted in 1866 or the year after. Understandably, these coins are rare because they were minted around the time the ray was phased out, and what rayed coins existed often had blurry-looking rays.

Grading Shield Nickels

Shield Nickel Fair Market Values in U.S. Dollars (1866-1883)

Date/Type	G4	VG8	F12	VF20	XF40	AU50	AU53	AU55	AU58	MS60	PR60 (Proof)
With Rays
1866 Rays	$29	$39	$58	$82	$150	$210	$234	$246	$264	$288	$1,440
1867 Rays	$31	$41	$59	$83	$192	$252	$270	$288	$306	$390	$18,000
No Rays
1867	$17	$25	$31	$40	$67	$100	$102	$108	$120	$144	$228
1868	$17	$25	$30	$38	$64	$100	$102	$108	$118	$144	$234
1869	$17	$26	$31	$40	$66	$100	$102	$110	$120	$144	$228
1870	$21	$29	$40	$52	$74	$103	$107	$115	$144	$156	$216
1871	$62	$86	$115	$162	$240	$270	$294	$318	$390	$432	$216
1872	$20	$29	$38	$53	$72	$104	$108	$120	$144	$162	$222
1873	$21	$30	$38	$50	$70	$104	$108	$114	$132	$150	$216
1874	$23	$32	$47	$71	$89	$107	$110	$116	$144	$162	$228
1875	$25	$36	$67	$84	$106	$138	$144	$168	$192	$228	$234
1876	$24	$31	$58	$73	$98	$120	$126	$132	$150	$180	$216
**1877	$1,260	$1,350	$1,500	$1,640	$1,710	$1,860	$1,950	$2,010	$2,100	$2,190	$2,190
*1878	$610	$650	$760	$870	$980	$1,050	$1,080	$1,120	$1,200	$1,380	$1,380
*1879	$390	$490	$590	$660	$740	$790	$840	$930	$1,040	$1,110	$312
*1880	$540	$670	$850	$1,500	$1,890	$2,070	$2,340	$4,140	$4,650	$5,340	$264
*1881	$245	$342	$470	$510	$680	$770	$930	$960	$990	$1,050	$252
1882	$16	$24	$30	$38	$60	$96	$102	$107	$118	$144	$210
1883	$16	$24	$30	$38	$60	$96	$102	$106	$120	$144	$210
*1883/2	$173	$201	$300	$360	$630	$720	$800	$990	$1,080	$1,170	$210