Price Guide for 1866 Nickel Variants
This guide presents price ranges for variants from three sources: eBay sales, third-party auctions, and PCGS guides. Values are shown for various conditions, allowing collectors to compare across different market segments. Price estimates may vary between sources, especially for rarer variants.
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3rd Party PriceCirculated: $17.00 – $3,680.00Uncirculated: $90.00 – $17,037.50
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eBayCirculated: $11.10 – $495.00Uncirculated: $169.27 – $3,500.00
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PCGS Price GuideCirculated: $30.00 – $475.00Uncirculated: $500.00 – $11,000.00
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3rd Party PriceUncirculated: $8.60 – $16,100.00
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eBayCirculated: $850.00Uncirculated: $555.00 – $3,995.00
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PCGS Price GuideCirculated: $750.00 – $1,400.00Uncirculated: $1,500.00 – $17,500.00
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eBayCirculated: $128.50 – $240.50
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PCGS Price GuideCirculated: $40.00 – $370.00Uncirculated: $400.00 – $1,000.00
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3rd Party PriceCirculated: $312.00
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3rd Party PriceCirculated: $80.00 – $2,255.00Uncirculated: $1,293.00 – $19,975.00
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eBayCirculated: $102.51 – $547.00
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3rd Party PriceCirculated: $207.00 – $2,760.00Uncirculated: $2,185.00 – $15,600.00
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eBayCirculated: $62.00
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3rd Party PriceCirculated: $196.00 – $2,160.00Uncirculated: $4,025.00
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eBayCirculated: $905.00
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PCGS Price GuideCirculated: $750.00 – $3,000.00Uncirculated: $5,000.00 – $6,500.00
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3rd Party PriceCirculated: $60.00 – $192.00
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3rd Party PriceCirculated: $288.00 – $504.00
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eBayCirculated: $30.89
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3rd Party PriceCirculated: $156.00
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3rd Party PriceCirculated: $168.00Uncirculated: $1,610.00 – $2,880.00
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3rd Party PriceUncirculated: $1,140.00 – $27,600.00
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eBayUncirculated: $5,150.00
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PCGS Price GuideUncirculated: $1,800.00 – $18,500.00
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3rd Party PriceUncirculated: $4,025.00 – $45,600.00
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PCGS Price GuideUncirculated: $12,500.00 – $45,000.00
Design and Specifications of the 1866 Nickel
The 1866 Shield Nickel was the first five-cent nickel coin produced by the United States Mint. It replaced the silver half dime and was introduced as a response to the coin shortage following the Civil War. This coin represents a significant transition in American coinage, marking the shift from precious metals to base metal coins for lower denominations.
| Weight | 5.0 grams |
|---|---|
| Diameter | 20.5 mm |
| Mint Marks | None (Philadelphia only) |
| Composition | 75% copper, 25% nickel |
| Obverse Design | Shield with laurel wreath, designed by James B. Longacre |
| Reverse Design | Numeral 5 surrounded by stars and rays, designed by James B. Longacre |
Rarity Factors and Value Drivers
The condition of an 1866 Shield Nickel significantly impacts its value. Due to the coin’s age and circulation, finding high-grade specimens can be challenging. Uncirculated examples with original mint luster are highly prized by collectors. The strike quality is particularly important for this issue, as many were weakly struck, especially on the reverse stars and rays.
Toning can also play a role in desirability, with attractive, natural toning often commanding a premium. However, environmental damage, such as corrosion or heavy cleaning, can severely impact value.
Mintage: 14,742,500
Rarity Scale: Uncommon
Circulation Status: Moderate Circulation
Preservation Rarity: Scarce in grades MS65 and above
Varieties Errors: Rays Reverse (standard), No Rays Reverse (introduced later in 1867)
Market Demand: High, due to first year of issue and historical significance
As the first year of issue for the Shield Nickel series, the 1866 holds special appeal for collectors. The Rays Reverse design, used only in 1866 and part of 1867, adds to its collectibility.
Die varieties exist for this year, including repunched dates and misplaced dates, which can add value for variety collectors. The preservation of fine details, particularly in the shield’s cross lines and the reverse rays, is crucial for determining grade and value.
Lastly, the historical significance of this coin as part of the transition from silver to base metal coinage adds to its numismatic interest and value.
