1867 5C Rays, JD-1, R.6, PR64 Cameo PCGS. CAC....

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1867 Rays Shield Nickel, PR64 Cameo
CAC-Approved Rarity

1867 5C Rays, JD-1, R.6, PR64 Cameo PCGS. CAC. The 1867 With Rays proof Shield nickel is one of the rarest coins in the U.S. federal coinage series. While the 2025 Guide Book lists a mintage of 25+ pieces for the issue, based on research by John Dannreuther and Bernus Turner, a larger surviving population is known, which includes original and restrike pieces. Dannreuther suggests that the issue was restruck on several occasions, using four different obverse dies in different die states (including the original obverse) and a single reverse die, also in different die states.

The Mint experienced many striking problems with the Shield nickel design in 1866, and Chief Coiner A. Louden Snowden and Chief Engraver James B. Longacre advocated removing the rays from the reverse, in hopes of improving striking quality. Treasury Secretary Hugh McCulloch ordered the removal of the rays on January 21, 1867, severely limiting the period in which Original With Rays coins should have been struck. Probably 10-15 specimens were produced in this period, using the JD-1 obverse in its earliest state and the With Rays reverse, also in its earliest state. Collector demand was high for this issue, and perhaps 40-60 Restrikes were produced at different intervals in the following years.

The present coin represents the original proof obverse, JD-1, of which 23 to 25 pieces are known. This obverse struck Rays proofs on two occasions, and was lapped in between. The current coin shows some of the die lapping on the fletching and wreath leaves, identifying a later striking period for the die pair. The coin is sharply detailed throughout, with frosty devices that contrast boldly with the mirrored fields. The pleasing surfaces are blanketed in attractive shades of champagne-gold toning and show only minor signs of contact. Eye appeal is extraordinary. Listed among the 100 Greatest U.S. Coins. Population (all varieties): 7 in 64 Cameo, 16 finer. CAC: 2 in 64, 8 finer (3/25).
From The Bruce S. Sherman Collection, Part II.

Coin Index Numbers: (Variety PCGS# 698561, Base PCGS# 83818)

Weight: 5.00 grams

Metal: 75% Copper, 25% Nickel

View all of [The Bruce S. Sherman Collection, Part II ]

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