OWNING a specific 1867 nickel might mean you have a valuable hidden gem in your collection.
One such coin sold for an astonishing price of $109,250 at auction, largely due to its unique characteristics, particularly its “weak” details that distinguish it from other coins.
The 1867 5C Rays PR66 Cameo nickel is an incredibly rare piece of numismatic history.
Graded PR66 by the Professional Coin Grading Service (PCGS) and certified by the Certified Acceptance Corporation (CAC), this nickel boasts original striking.
It also has distinctive features identified by researcher John Dannreuther, according to Heritage Auctions.
WHAT’S THE SITCH?
The coin’s obverse displays remarkable characteristics.
This refers to the left base of the “1” in the date positioned over the right edge of a dentil and the “7” being recut.
The lower shield is notably clear, free from roughness or die polishing, enhancing its appeal to collectors.
Additionally, the highest leaf below the letters “RU” in “TRUST” is fully detached from the shield, further adding to the coin’s uniqueness.
A defined area exists below the right arrow shaft.
Plus, tiny die polish lines are evident from the upper left of the shield to the nearest leaf.
ON THE FLIP SIDE
On the reverse, you can observe a slightly weak center ray below the second “T” of “STATES,” along with attenuated dentils, which are characteristic of Dannreuther’s Reverse A, State I.
The dating of the 1867 With Rays proofs reveals clandestine strikings that are significantly rarer than the 1866 With Rays proofs, perhaps by a factor of eight to one, per the auctioneering site.
While the Guide Book estimates about “25+” existing examples, that figure seems conservative, considering the probable restrikes.
This particular nickel showcases untoned, brilliantly reflective surfaces with just a hint of champagne patina at the centers.
Unlike the 1866 Rays coins, it lacks a center dot on either side, yet every leaf, shield stripe, and star is meticulously struck and boldly detailed.
What is a die break or error on a coin?
What causes such defects on coins and why are they so rare to find?
A die break, also known as a cud, is an error on a coin that is formed when a die, (a metallic piece that is used to strike a coin) is missing a piece near the rim.
When dies strike coins, they have a heavy impact and pressure and the metal from the blank part of the coin, known as the planchet, overlaps the area left by the missing piece of the die.
Coins with such deformities are rare thanks to the strict quality control measures at the US Mint.
When such errors do occur, they are often caught and destroyed.
However, those that slip through the net become huge collector’s items worth much more than their face value.
Source: Littleton Coin Company
The frosty devices are so well-defined that they nearly deserve a Deep Cameo designation.
TIMELY VALUE
The year 1867 is significant for collectors, marking a transitional period in minting techniques.
Coins from this year are not just rare; they symbolize a moment in American numismatic history that collectors cherish.
The specific characteristics of the 1867 With Rays Shield Nickel make it highly sought after.
There are also plenty of other coins that have errors that have driven up their values.
A single detail on the back of a coin makes it worth $114,000.
And a rim mistake on a nickel makes it sell for up to $20,500.
Coins from 1867 are particularly sought after due to their clandestine strikings, which are far rarer than those from 1866 [Stock image][/caption]
The 1867 nickel exemplifies a transitional period in American numismatic history, making it highly desirable among collectors[/caption]
