1867 Shield Nickel
The Defend Nickel was created within the aftermath of the Civil War. [Two] occasions occurred that made the coin necessary. First, the Civil Conflict had brought on hoarding of all silver and gold coins. Due to the lack of circulating coinage throughout the conflict, the government began issuing fractional currency to make sure that commerce could continue. Even after the Civil Struggle, people were reluctant to spend their “laborious” cash and the very unpopular fractional forex or “shinplasters” as they have been called continued to circulate. In consequence, the mint was searching for a option to get coinage again into circulation. The final affect was Joseph Wharton, the operator of a big nickel mining concern and a very influnincial individual with members of Congress. He had been promoting the use of nickel in coinage for a number of years. Although the mint director, James Pollock, was initially against using nickel in coinage due to the issue of manufacturing cash from the very laborious and brittle metal. He lastly submitted to the general public stress to supply an alternative choice to the fractional currency and the non-public lobbing of the nickel mining industry.
Type Information
The normal sort coin collector will usually get hold of one instance of the Defend Nickel.
For the specialized type coin collector [two] major forms of the Shield Nickels were minted, one with rays on the reverse and one without. From 1866 until 1867 rays had been used on the reverse of the coins to separate the 13 stars. Throughout 1867 the rays had been removed.
Collector Points
Nickel was very difficult for the mint to work with because of the hardness of the metal. The cash regularly broke dies and mint machinery. In consequence, the Protect Nickels are often poorly struck. Coins with sharp details are rather more troublesome to find and are sometimes sold for far more than the values listed in the varied price guides.
Shield nickels had been struck only on the Philadelphia Mint, and more than 126 million have been produced from 1866 until 1883. The 2 rarest dates are 1877 and 1878, when solely proofs had been produced. Among enterprise strikes, the years 1879-1881 are low mintage dates and worth massive premiums in all grades. There are [two] overdates: the proof 1879/8 and the 1883/2 enterprise strike.
Proofs had been struck yearly and embody one of the vital important 19th century rarities. Only 25 items are believed to have been struck for the 1867 Defend Nickel with rays.
Investor Information
The Defend Nickel is primarily collected by type. Only a few collectors will attempt a date collection. As a result, variances in mintage create only minor modifications in value.
Also, because of its status as minor coinage produced in a base metallic its enchantment is somewhat limited. Extra, the design is utilitarian at finest hast not helped its collectability. Because the charts show, costs are relatively stable till the best graded in each mint state and proofs are considered. This series is best described as a helpful a part of a sort assortment and a steady investment that can transfer up and down in value with the coin market in general.
At Valueincoins.com you’ll find info regarding 1867 shield nickel, 1882 shield nickel, and 1873 shield nickel.
