Shield Nickels (1866-1883)

Like the two-cent piece and nickel three-cent piece, the nickel five-cent piece was introduced during the Civil War era (actually a year after the Civil War in the present instance) to supply coins for circulation in a time when silver pieces continued to be hoarded. Unlike its smaller denomination counterparts, the nickel five-cent piece proved popular, and "nickels" are still produced in large quantities today.

The first nickel five-cent pieces produced were of the Shield type and display on the obverse a motif somewhat similar to that used on the two-cent piece - an ornamented shield. The reverse shows a circle of stars with the inscription UNITED STATES OF AMERICA around, the numeral 5 at the center, and the inscription CENTS below. All issues of 1866 and some of 1867 have rays or bars between the stars. Later 1867 issues and all others of the Shield type through 1883, lack the rays.

Production of Shield nickels was continuous. Business strikes were produced for all years 1866-1883 except in 1877 and 1878, when mintages were limited to Proofs for collectors. Among surviving business strikes today, sharp examples are scarce, particularly of the earlier dates, and especially for the first year of issue, 1866, which is typically poorly defined. The hardness of the nickel alloy caused fast die wear and frequent breakage, and it is not at all unusual to see numerous die breaks on the obverse and reverse of a typical specimen.

Proof Shield nickels were struck with more care than business strikes, and most Proofs have excellent definition of detail, although the fields can be somewhat grainy, especially on pieces produced toward the end of the series.

Interesting varieties among Shield nickels include the scarce 1867 With Rays, which is a major rarity with Proof finish, the 1873 with large over small 3 in date, and the 1879/8 overdate (which exists only in Proof condition and which is two or three times scarcer than a regular date 1879 Proof), and the 1883/2 overdate. Highly recommended for the study of all nickels from the Shield type onward is The United States Nickel Five-Cent Piece: A Date-by-Date Analysis and History, by Michael Wescott. In the introduction to the book, Walter Breen observes this: "Michael Wescott taught me facts about nickels I hadn't known even after 30 years of studying the series."