Shield Nickel Values & Mintages
The Shield nickel was the first US five-cent piece made of copper-nickel, introduced after the Civil War when silver half dimes had vanished from circulation. Its shield design echoes the two-cent piece.
- Years
- 1866–1883
- Issues listed
- 19
- Lowest mintage
- 16K
- Diameter
- 20.5 mm
Original illustration. Tap to flip.
Rays between the stars on the 1866–1867 reverse caused striking problems and were removed in 1867, creating two types. The 1877 and 1878 were struck only as proofs.
Designer: James B. Longacre.
Key dates: lowest mintages
See all 19 →Every Shield Nickel by year and mint
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| Owned✓ | Coin | Year | Mint | Mintage | Type | Silver |
|---|---|---|---|---|---|---|
| 1866 Shield Nickel | 1866 | None | 14,742,500 | Circulation strike | – | |
| 1867 Shield Nickel, With Rays | 1867 | None | 2,019,000 | Circulation strike | – | |
| 1867 Shield Nickel, No Rays | 1867 | None | 28,890,500 | Circulation strike | – | |
| 1868 Shield Nickel | 1868 | None | 28,817,000 | Circulation strike | – | |
| 1869 Shield Nickel | 1869 | None | 16,395,000 | Circulation strike | – | |
| 1870 Shield Nickel | 1870 | None | 4,806,000 | Circulation strike | – | |
| 1871 Shield Nickel | 1871 | None | 561,000 | Circulation strike | – | |
| 1872 Shield Nickel | 1872 | None | 6,036,000 | Circulation strike | – | |
| 1873 Shield Nickel | 1873 | None | 4,549,100 | Circulation strike | – | |
| 1874 Shield Nickel | 1874 | None | 3,538,000 | Circulation strike | – | |
| 1875 Shield Nickel | 1875 | None | 2,097,000 | Circulation strike | – | |
| 1876 Shield Nickel | 1876 | None | 2,530,000 | Circulation strike | – | |
| 1877 Shield Nickel Proof | 1877 | None | 900 | Proof | – | |
| 1878 Shield Nickel Proof | 1878 | None | 2,350 | Proof | – | |
| 1879 Shield Nickel | 1879 | None | 25,900 | Circulation strike | – | |
| 1880 Shield Nickel | 1880 | None | 16,000 | Circulation strike | – | |
| 1881 Shield Nickel | 1881 | None | 68,800 | Circulation strike | – | |
| 1882 Shield Nickel | 1882 | None | 11,476,600 | Circulation strike | – | |
| 1883 Shield Nickel | 1883 | None | 1,451,500 | Circulation strike | – |
Composition by year
| Years | Metal | Weight | Silver |
|---|---|---|---|
| 1866–1883 | 75% copper, 25% nickel | 5 g | – |
Mint mark location
1866–1883: No mint mark. All struck in Philadelphia.
Grading tips
Check the leaves around the shield and the horizontal lines within it. The hard alloy meant weak strikes were common, so sharpness adds value.
Paper notes and a ban on living portraits
During and after the Civil War, five cents often meant a paper note rather than a coin. The five-cent fractional note of 1864 carried a portrait of Spencer Clark, who ran the currency bureau that printed it. Members of Congress were angered that an official had put himself on money and in 1866 they banned portraits of living people on US currency. The same year they authorized a copper-nickel five-cent coin to replace the notes.
Industrialist Joseph Wharton, who owned a major nickel mine in Pennsylvania, lobbied for the alloy. The law of May 16, 1866 set the coin at 75% copper and 25% nickel and 5 grams, a standard that has outlasted every design since.
Why the coin was so hard to strike
Copper-nickel was much harder than bronze or silver. Dies cracked and broke quickly, which is why Shield nickels so often show die cracks, especially through the shield and the lettering. Weak strikes on the leaves and the shield lines are normal. The rays on the 1866 and early 1867 reverse took metal away from other parts of the design, so they were removed to make the coin easier to strike.
Proof coins were struck every year of the series. Proofs and business strikes of the low-mintage years can be confused when worn. Look for mirror fields and squared rims to identify a proof.
Why the late 1870s mintages are so low
By the mid-1870s the government had issued far more nickels than commerce needed. Banks and merchants were sending surplus coins back to the Treasury, so the Mint stopped making nickels for circulation in 1877 and 1878. Production for commerce restarted in small amounts in 1879, 1880 and 1881. That is why those three years are the keys of the series. It also explains why collectors often find that proofs of those dates are easier to obtain than circulated business strikes.
Varieties and collecting tips
The 1873 exists with Closed 3 and Open 3 dates. The Mint opened the 3 because the closed version looked too much like an 8. The 1883/2 overdate is the other major variety and is often faked with tooling. Look for the base of the 2 below the final 3.
Most collectors start with one With Rays and one Without Rays coin. A full date set from 1866 to 1883 is achievable with patience, using proofs for the proof-only years. Shield nickels tone to gray, tan or pale gold. Natural toning is acceptable, while a bright, cleaned surface lowers the value.
Frequently asked questions
What is the rarest Shield Nickel?
By mintage, the scarcest regular circulation issue is the 1880 Shield Nickel with 16,000 struck, followed by the 1879 Shield Nickel (25,900). Survival rates and condition also matter: some higher-mintage dates are scarce in top grades.
Are Shield Nickels silver?
1866–1883: 75% copper, 25% nickel.
Where is the mint mark on a Shield Nickel?
1866–1883: No mint mark. All struck in Philadelphia.
How many Shield Nickels were made?
About 128,019,900 for circulation across 17 date and mint combinations, from 28,890,500 for the 1867 Shield Nickel, No Rays down to 16,000 for the 1880 Shield Nickel.
Who designed the Shield Nickel?
James B. Longacre.
Why are Shield nickels from 1877 and 1878 proof only?
There were already more nickels in circulation than commerce needed, so the Mint struck only proof coins for collectors in those years.
What is the difference between a With Rays and Without Rays Shield nickel?
With Rays coins of 1866 and 1867 have rays between the stars on the reverse. The rays were removed in 1867 because they made the coin harder to strike.
Other nickels
Mintages from Wikipedia's US Mint-sourced tables (CC BY-SA 4.0). Specifications from US Mint records. All sources.