1867 5C Rays PR66 Cameo PCGS. JD-3, R.7....

--The left base of 1 is over the right part of a dentil;
--Heavy die polish appears in the lower part of the shield;
--The area above and below the right (facing) arrow shaft is full of die polish;
--"Rough" die polish appears just outside the cross shape at top of shield; and
--A large lump appears on the left side of the ball ornament at the shield bottom.

"Even in 1996, it was easy to line up the emission sequence, as the reverse used on all Proof 1867 With Rays nickels is a Proof-only die that was lapped nearly every time it was used. That these coins were struck up on numerous occasions became obvious, as some of them looked 'more Proof' than others -- in fact, the reason for the examination of the group of coins in 1996 was to determine if the coins were actual Proofs! It is well-documented that the Mint under Director Dr. Henry Linderman (1867-1869 and 1873-1879) had certain 'friends' who obtained favors on occasion. Numerous Restrikes of many coins appeared during this era and some of these nickel Proofs are undoubtedly among them."