Welcome Sign-In | Register
Sold for: Sign-in or Join (free & quick)
includes Buyer's Premium (BP) 


1867 With Rays Shield Nickel, PR65 Cameo
Dannreuther-1, Brilliant and Rare

1867 5C Rays PR65 Cameo PCGS. CAC. Dannreuther-1, Reverse Die State b. The 1867 Rays proof nickel has been recognized as a major 19th century rarity for many years. Recent (2007) in-depth research published by John Dannreuther gave diagnostics and a plausible emission sequence regarding original and restrike coins, and announced the discovery of a third obverse die used for restriking these pieces. This appears to be one of the original strikings, although possibly from a second striking period, as indicated by the later state of the reverse die. Among the obverse diagnostics that indicate the Dannreuther-1 obverse are:

--The left base of the 1 is over the right part of a dentil;
--The 7 in the date is recut;
--The top-right olive leaf is detached, and a tiny die line runs from the two leaves below it;
--The lower shield is clear of die polishing;
--Two die lines run diagonally downward through the central portion of the horizontal shield stripes; and
--The lower-right part of the left arrow feathers is missing;

Based on current knowledge and die-state evidence, it is believed these coins would have been struck after the Dannreuther-1 Reverse Die State a coins in 1867, and before the Dannreuther-2 obverse die (showing Reverse Die State c) was employed (later in 1867 or early 1868, most likely).

In this later state of the reverse die (a die common to all three obverses used for the 1867 With Rays proofs), noted as State b by Dannreuther, these diagnostics appear:

--Die lapping or polishing has noticeably thinned the center ray of the trio of rays below the second T in STATES; and
--The denticles at the reverse rim from 3 to 5 o'clock are perceptibly thinner than the rest;

This Gem Cameo proof is brilliant throughout both sides, showing fields that are deeply reflective and set up significant cameo contrast against the frosted devices. The brilliance is only interrupted by slight haziness on the reverse. A splendid example of this significant low-mintage issue.
Ex: Los Angeles Signature (Heritage, 8/2009), lot 1041, which brought $69,000.(Registry values: P6) (NGC ID# 276H, PCGS# 83818)

Fees, Shipping, and Handling Description: Coins & Currency (view shipping information)

Sales Tax information  | PCGS Guarantee of Grade and Authenticity  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Glossary of Terms

Auction Info

Auction Dates
January, 2014
8th-12th Wednesday-Sunday
Bids + Registered Phone Bidders: 9
Lot Tracking Activity: N/A
Page Views: 721

Buyer's Premium per Lot:
17.5% of the successful bid (minimum $14) per lot.

Heritage membership

Join Now - It's Free

  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
Consign now
  • Cash Advances
  • More Bidders
  • Trusted Experts
  • Over 200,000 Satisfied Consignors Since 1976
Consign to the 2016 December 7 - 8 World Coins Signature Auction - Hong Kong.

Learn about consigning with us

The HA website was so easy to use and we could see the pre-auction bids coming in, which was exciting.
Michael Medico,
Los Angeles, CA
View More Testimonials receives more traffic than any other auction house website. (Source:

Video tutorial

Getting the most out of search

Recent auctions

2016 July 7 - 10 Summer FUN US Coins Signature Auction - Orlando Summer FUN
2016 July 7 - 10 Summer FUN US Coins Signature Auction - Orlando Summer FUN
REALIZED $6,575,672
2016 June 22 - 24 World Coins Signature Auction - Hong Kong
2016 June 22 - 24 World Coins Signature Auction - Hong Kong
REALIZED $2,788,640
2016 June 23 - 24 World Currency Signature Auction - Hong Kong
2016 June 23 - 24 World Currency Signature Auction - Hong Kong
REALIZED $779,759

© 2016 Heritage Auctions | All Rights Reserved