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1880 5C MS64 PCGS. CAC....
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Description
1880 Shield Nickel, MS64
Only 16,000 Pieces Struck for Circulation
1880 5C MS64 PCGS. CAC. The 1880 Shield nickel is widely
recognized as a major series rarity with only 16,000 pieces struck.
But why? The answer is given in a Bob Julian article in
Coinage magazine:"The Treasury order suspending coinage of nickels remained in force until Dec. 12, 1881; there were 72,000 nickels struck for circulation in that month. However, there are non-proof coinages for 1879 and 1880 that require an explanation.
"At the end of 1876, Coiner A. Loudon Snowden had resigned to become postmaster of Philadelphia - but in March 1879, he returned as superintendent of the Philadelphia Mint. Snowden believed that numismatists ought to be able to buy single proof and uncirculated coins directly from the Mint, and to this end established policies benefiting the small collector.
"The major Snowden change affecting nickels was special permission from the Treasury to strike a reasonable number of uncirculated nickels and three-cent pieces. The roughly 49,000 nickels struck in 1879 and 1880 were meant primarily for those persons (including collectors) wanting uncirculated specimens of the new coins."
Even though produced for collectors, few 1880 nickels survived in high grades. Only eight other pieces have been so graded by PCGS with four finer (3/10). This is an attractive example that has mild rose and lilac-toned satiny surfaces with a notable absence of abrasions, just a few shallow planchet flaws at the top of the reverse.(Registry values: N2998)
Coin Index Numbers: (NGC ID# 276E, PCGS# 3810, GSID# 2883)
Metal: 75% Copper, 25% Nickel
Weight: 5.00 grams
Weight: 0.13228oz
Mintage: 16,000
Auction Info
2010 April-May Milwaukee, WI CSNS US Coin Auction #1139 (go to Auction Home page)
Auction Dates
Apr-May, 2010
28th-2nd
Wednesday-Sunday
Bids + Registered Phone Bidders: 20
Lot Tracking Activity: N/A
Page Views: 1,640
Buyer's Premium per Lot:
15% of the successful bid per lot.
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