Shield Nickel Value:With Rays, No Rays and Condition

Quick answer

Coin photos

Basics & coin story

The Civil War disrupted familiar small-change supplies. The five-cent nickel authorized in 1866 used a larger base-metal format alongside the existing silver half dime. James B. Longacre placed a national shield beneath IN GOD WE TRUST, with branches, arrows and the date around it.

The original reverse surrounded a large 5 with stars and rays. The rays were removed in 1867 after difficulties producing satisfactory coins and durable dies. Both reverses belong to that year, while 1866 uses rays and later regular dates use the No Rays design.

Shield nickels continued through 1883, when the Liberty Head nickel also began. The Liberty nickel guide covers the following design, while the half-dime guide explains the smaller silver denomination that overlapped part of the Shield era.

Identification

Check 1867 on the reverse

With Rays has short lines between the surrounding stars. No Rays omits those lines. Do not infer the reverse from the date alone. The photographed 1867 coin is No Rays and has significant surface problems; it is an identification example, not a model for the price table.

Dirt or corrosion can obscure small features. Examine the complete star ring with angled light and compare a verified photograph. Do not scrape the surface to expose a possible ray.

Distinguish die cracks from valuable varieties

The hard copper-nickel alloy was challenging for nineteenth-century dies, and cracks or uneven strikes can appear. A raised line produced by a cracked die is different from a cut into the coin after striking. Neither automatically establishes a large premium.

A recognized doubled die or repunched date requires matching diagnostic locations, not simply a thick or blurred numeral. Record what you can actually see and check a specialist attribution before attaching a variety price.

Check the surface before calling the coin high grade

The shield’s horizontal and vertical lines help compare remaining detail. Flat areas can reflect wear or an incomplete strike. Look separately for circulation friction, heavy scratches, porous corrosion and unnatural polishing.

An old nickel with readable detail may receive a problem notation rather than an ordinary numerical grade. Our grading guide distinguishes the preservation scale from those surface problems. A genuine designation alone is not an MS grade.

Condition & value

USD NumisMedia collector FMV references updated October 24, 2026. These are problem-free issue-and-grade comparisons. The pictured PCGS Genuine coin has surface problems and is not valued by these rows.

The two 1867 reverse rows show why an exact identification matters even before grade is considered. They do not mean that every 1867 coin falls between the lowest and highest numbers shown. A damaged example requires separate sold-coin evidence.

There is no silver-melt calculation for a standard Shield nickel. Its nominal five-gram copper-nickel composition is useful for identification but does not explain its collector price. Date, survival in an acceptable grade, attribution and demand matter.

Keep a questionable date or unusual feature unaltered. Photograph both sides, the edge and a close view of the area in question. Professional review is especially useful for a costly scarce date or a proposed Proof that has lost its original appearance.

Summary

FAQ

References