1867 5C Rays, CA PR (PCGS# 83818)

2010 July Orlando, FL (Summer FUN) Signature US Coin Auction #1142

  • Auctioneer:
    Heritage Auctions
  • Lot Number:
    3257
  • Grade:
    PR65
  • Price:
    $57,500.00
Lot Description
1867 5C Rays PR65 Cameo NGC. Dannreuther-1A, State a/a. The 1867 Rays Shield nickel business strikes are conditionally rare coins in the highest Mint State grades, but they are generally obtainable for a price. The 1867 Rays Shield nickel proof coins, however, are celebrated rarities, well-known to series specialists and advanced numismatists. John Dannreuther, director of research at PCGS, has delved extensively into the die diagnostics and Mint history surrounding the 1867 With Rays and No Rays proof issues--and reissues. Much of what follows is from the summation in the Bowers Shield and Liberty Head nickels Guide Book and from Dannreuther's PCGS article, published in the June 2007 PCGS Rare Coin Market Report and reprinted on www.shieldnickels.net, titled "Third Obverse Die Identified for Proof 1867 Rays Nickel." Three Different Obverse Dies Used Dannreuther has established that three different obverse dies were used for the 1867 Rays proofs, which were restruck at various times, all paired with a single reverse die that was lapped on each reuse. The first obverse used, Dannreuther-1, shows the characteristics below: {blockquote}--The left base of the 1 in the date is over the right side of a dentil.{/blockquote} Dannreuther writes concerning the first use of this obverse that it likely was used to produce 10 to 15 1867 With Rays proofs earlier than previously believed. Earlier research by R.W. Julian had indicated that, when the order was given on January 21, 1867, to suspend coinage of the With Rays design, chief coiner Archibald Louden Snowden had so far supposedly "refused" to make any 1867 With Rays proofs for sets. However, Dannreuther believes that is likely untrue since, based on the die emission sequence and die state information he has established, Dannreuther-1 is the earliest known stage of this obverse die. Dannreuther writes: {blockquote}"Most likely, the 25 Proofs reported delivered on February 5, 1867 are the ones with the Pattern reverse, as det
View the Original Auction