Shield Nickels (1866-1883): The First of America’s Five-Cent Coins

Shield Nickels (1866-1883): The United States Mint has some roots dating back to the formation of the United States of America. Subsequent to the formation of the country, the government was awash with demands for pecuniary on the American continent and as early as 1793, the first US mint building was established in Philadelphia, Pennsylvania. This first facility had to strike all of the country’s coins and it was not very long before they were at full stretch, necessitating there to be more than one mint facility.

Early on, the US Mint issued coinage with blanks procured from foreign manufacturers, but that was of course sooner or later ceased. The US Mint was established over 200 years ago and in its course, it has manufactured many coins that are today considered to have huge collector value. One of those coins is the Shield Nickel, a 5-cent coin that was made in the mid-19th century. The Shield Nickel is as good as any other five-coin coin circulated by the US Mint; however, due to the period through which it was circulated, it stands out.

Shield Nickel History

By the time the notion of shield nickel was developed in 1866, five-cent pieces had been struck at the mint since 1792. Originally, these were half dimes and were made of silver, before the formation of the United States of America. The circulating half dimes were made from 89% silver and the remainder was copper.

Before the American Civil War began in 1861, the US Mint was compelled to stop the production of US coinage. Throughout the over 4 years that actually witnessed the Civil War and a full 5 years of reconstruction, people had to purchase goods with any one of a stunning variety of media that had the status of negotiable instruments, including stamps and tokens. The first move to retire the three-cent piece and replace it with the bronze cent and two-cent coins came in 1864, when Congress started the process of recoining. In the same year, 1864, by the act of Congress, the introduction of a new five-cent coin was approved. The new half dime was to feature the image of William Clark, a celebrated explorer, but somewhere along the line that message got transformed and what was presented to Congress as the latest coin had the image of Spencer Clark, the head of the Currency Bureau.

Also Read: Franklin Half Dollar (1948-1963): The Iconic Coin of Mid-Century America

The Mint Director of that time, James Pollock, was at first against the use of a coin made of nickel; however, when he was convinced by the performance of the nickel three-cent piece, he quickly reconsidered. Joseph Wharton, who was one of the actors in the nickel market of that time, is also said to have assisted in making the process of putting into action the minting of a five-cent nickel possible. When the nickel 5-cent piece was under consideration, it was stated that the piece would weigh about 3.9 grams, but the House of Representatives increased that weight to a precise 5 grams. In mid-May of 1866, there was an enactment by the Congress allowing the minting of the new, heavier five-cent piece.

Shield Nickel Design

After the Bill that sanctioned the creation of the nickel was passed in 1866, Chief Engraver of the US Mint, James Longacre, had to create a design for the coin as soon as possible. Lacking more time, Longacre opted to make the new five-cent design look like the circulating two-cent piece of the time. The design that was used in the shield nickel was slightly changed in order not to resemble the design used in the two-cent coin.

Further, refined concepts were developed by Longacre; however, Treasury Secretary Hugh McCullough was of the opinion that the shield design was suitable for the obverse, while the reverse design had a simplicity with the inscription written of the five-cent face value and what seemed like sun rays.

Despite the shield nickel’s relative plainness, it is considered to have one of the most patriotic symbols of all of the American coins. The Shield is rather a copy of the Great Seal of the United States and concentrates on the Shield as the symbol of power in the spirit of solidarity. The crossing of the arrows behind the shield is understood not as a sign of threat but as readiness to guard. Last but not least, the branches of Laurel that you are likely to see around symbolize victory according to ancient Greek medical practices.

Also Read: Franklin Half Dollar (1948-1963): The Iconic Coin of Mid-Century America

It quickly became evident at the very onset of the mintage of the shield nickels at the US Mint that it was not going to be easy at all. These copper planchets were harder than normally used by the mint and therefore the dies used to strike the coin wore out quickly. What people see as art on the current coins was heavily criticized during the time of their circulation. These criticisms very well might explain why the shield nickel was in circulation for less than 20 years.

Popularity Amongst Collectors

The shield nickel is especially prized today for various reasons, but mostly because of the history that is attributed to it. Collectors appreciate them because, to a large extent, these early coins were minted right after the Civil War. In addition, it will be useful to note that shield nickels were among the first pieces minted with nickel, which was not previously even considered.

Such aspects of the Shield Nickel as the design of the coin have been criticized during the time the piece was in circulation and this is one aspect that makes the coin so popular with collectors in the modern world. Given that less than 20 editions of the shield nickel were minted, the idea of assembling a set of shield nickels is not really all that implausible.

Last but not least, shield nickels are at least over a century old but in circulation, one can obtain them in mint condition. The fact that shield nickel was in active circulation did not spare them from accumulating over the course of the years. Of course, as you might have expected, these extremely well-recycled parts are also the most expensive nowadays.

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