Did you know that some five-cent coins are worth thousands of dollars? The Shield Nickel, first minted in 1866, was the first U.S. five-cent coin made of nickel and copper.
It had a unique shield design on the front and a bold number “5” surrounded by stars on the back.
Although the Liberty Head Nickel replaced it in 1883, Shield Nickels remain highly collectible today—especially rare varieties and key dates.
If you’re a collector or investor, knowing which Shield Nickels are valuable can help you spot hidden treasures. Here are 8 rare Shield Nickels that could be worth a fortune.
1. 1866 Shield Nickel (With Rays)
Mintage: 14,742,500
Estimated Value: $40 – $5,000+
Why It’s Special: First-year issue featuring rays between the stars
The 1866 Shield Nickel debuted with an intricate design, including rays between the stars on the reverse.
However, this design caused minting difficulties, so the rays were removed in 1867. Because of its historical significance, collectors highly value this first-year variety.
2. 1867 Shield Nickel (With Rays)
Mintage: 2,019,000
Estimated Value: $200 – $20,000+
Why It’s Special: Final year of the “With Rays” design
The 1867 Shield Nickel had two versions: With Rays and No Rays. The With Rays version was only minted for part of the year, making it far rarer than the later No Rays variety. Proof coins are especially valuable.
3. 1867 Shield Nickel (No Rays)
Mintage: 28,890,500
Estimated Value: $20 – $1,000+
Why It’s Special: First year of the “No Rays” design
To solve minting issues, the U.S. Mint removed the rays from the reverse design in 1867. This version is more common than the With Rays type, but high-grade examples still command strong prices.
4. 1877 Shield Nickel
Mintage: 852,500
Estimated Value: $500 – $15,000+
Why It’s Special: Lowest mintage of any business-strike Shield Nickel
The 1877 Shield Nickel had the lowest production numbers of any regular Shield Nickel, making it one of the hardest to find in any condition. Even lower-grade coins sell for hundreds to thousands of dollars.
5. 1878 Shield Nickel (Proof Only)
Mintage: Only 2,350 Proof coins minted
Estimated Value: $2,000 – $25,000+
Why It’s Special: No business-strike versions exist
In 1878, the U.S. Mint only produced Proof Shield Nickels, making this year one of the rarest Shield Nickels ever. If you find one in top condition, it could be worth tens of thousands of dollars.
6. 1869/8 Overdate Shield Nickel
Mintage: Unknown
Estimated Value: $500 – $10,000+
Why It’s Special: Minting error where an “8” is visible under the “9”
The 1869/8 Overdate Shield Nickel happened when the U.S. Mint reused old dies, accidentally stamping the new date over the previous year. Overdate varieties like this are scarce and highly collectible.
7. 1873 Open 3 vs. Closed 3 Variety
Mintage: 436,050 (Open 3), Unknown (Closed 3)
Estimated Value: $200 – $5,000+
Why It’s Special: Two distinct date varieties
In 1873, Shield Nickels were minted with two different numeral styles in the date:
- Open 3 (wider number “3”)
- Closed 3 (narrower number “3”)
The Closed 3 version is much rarer and commands a higher price.
8. 1880 Shield Nickel (Proof Only)
Mintage: Only 3,955 Proof coins minted
Estimated Value: $1,500 – $10,000+
Why It’s Special: No business-strike versions exist
Like the 1878 Shield Nickel, the 1880 edition was only minted as a Proof coin. These are highly sought after, with well-preserved examples fetching thousands of dollars.
Why Are These Shield Nickels So Valuable?
Several factors make these coins rare and valuable:
- Low Mintage Numbers – Coins like the 1877 Shield Nickel and 1880 Shield Nickel had limited production, making them harder to find.
- Minting Errors – Coins like the 1869/8 Overdate and 1873 Closed 3 variety are valuable because of their unique mistakes.
- First and Last Year Issues – The 1866 Shield Nickel (With Rays) and the 1867 With Rays are desirable because they were part of the original designs.
Table – 8 Key Shield Nickel Dates and Varieties
| Coin | Mint / Year | Estimated Value | Unique Feature |
|---|---|---|---|
| 1866 Shield Nickel (With Rays) | Philadelphia / 1866 | $40 – $5,000+ | First year of issue, features rays between stars |
| 1867 Shield Nickel (With Rays) | Philadelphia / 1867 | $200 – $20,000+ | Last year of the “With Rays” design |
| 1867 Shield Nickel (No Rays) | Philadelphia / 1867 | $20 – $1,000+ | First year of the “No Rays” design |
| 1877 Shield Nickel | Philadelphia / 1877 | $500 – $15,000+ | Lowest mintage of any business-strike Shield Nickel |
| 1878 Shield Nickel | Philadelphia / 1878 | $2,000 – $25,000+ | Only Proof coins minted, no business strikes exist |
| 1869/8 Overdate Shield Nickel | Philadelphia / 1869 | $500 – $10,000+ | Minting error with an “8” visible under the “9” |
| 1873 Open 3 vs. Closed 3 Variety | Philadelphia / 1873 | $200 – $5,000+ | Two distinct numeral styles, Closed 3 is rarer |
| 1880 Shield Nickel | Philadelphia / 1880 | $1,500 – $10,000+ | Only Proof coins minted, highly collectible |
Shield Nickels remain an important part of American coin history.
Whether you’re a serious collector or an investor, these 8 rare Shield Nickels are worth looking out for. Check your collection—you may already own one of these valuable coins!
