1866 Shield nickel, With Rays, from the first year of the U.S. five-cent nickel. It has strong Very Fine detail with a small hole, which makes it an affordable way to own this key first-year type.
Grade: our in-house estimate is Very Fine details, holed. The coin is graded in-house and is not certified. The obverse is well detailed: there’s veining in the laurel leaves, the scrollwork is crisp, the shield stripes are clear, and IN GOD WE TRUST is strong, with only light weakness at the end. The date, 1866, is bold. On the reverse, the rays and all 13 stars are sharp, and the legend and CENTS are fully readable. The rims and dentils are full. There’s a small, neatly drilled hole near the rim at 9 o’clock, likely from being worn as a pocket piece or on a watch chain in the 19th century. There are a few light marks. Please see the photos.
Historical context: The nickel was born the year after the Civil War ended. Wartime hoarding had left the country without silver change, and Congress authorized a copper-nickel five-cent piece in May 1866 to replace the paper “shinplasters” people were forced to use. Its Union shield design celebrated a nation put back together. This coin was among the very first nickels to circulate during early Reconstruction.
Series: James B. Longacre’s Shield nickel debuted in 1866 with rays between the stars on the reverse. The hard nickel alloy was difficult to strike, so the rays were removed early in 1867, making the With Rays design a two-year type. 1866 is the first year of the type and of the U.S. nickel itself, which makes it a cornerstone for type collectors. The No Rays design continued until 1883.
Curiosity Coins — Medway, Massachusetts | Est. 1999 | ANA • PCGS • NGC • Heritage Auctions Member / Buying & selling US and world coins, silver, gold, currency, and collectibles since 1999. Many auctions start at $5 — combined shipping always available. Questions welcome.