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首席收藏网 > 数据中心 > Stack's Bowers and Ponterio > SBP2017年11月巴尔地摩#4-白金之夜

Lot:10023 1867 Shield Nickel. Rays. Proof-65 Cameo (PCGS).

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USD 30000

SBP2017年11月巴尔地摩#4-白金之夜

2017-11-10 05:00:00

2017-11-10 07:00:00

USD 28800

SBP

成交

1867 Shield Nickel. Rays. Proof-65 Cameo (PCGS).,This is an outstanding example of one of the rarest issues among U.S. Mint Proof coinage. Fully struck with a soft satin texture, the device contrast markedly with deep reflectivity in the fields. The overall appearance is one of silver white brilliance, although closer inspection does reveal subtle iridescent highlights of silver and pale rose. Devoid of even trivial blemishes, the validity of the Gem grade from PCGS is assured in our minds.<p>Introduced in 1866, the copper-nickel five-cent coin has remained an integral part of our nations coinage ever since. The origins of this new style coin were born out of the suspension of specie payments during the Civil War. Gold coins disappeared from circulation in late 1861 and silver coins in the spring of 1862. Initially the silver half dime was replaced with five-cent Fractional Currency notes, which circulated well after the war concluded with General Robert E. Lees surrender at Appomattox, Virginia in 1865. In order to provide an alternative to these notes, Congress followed the three-cent copper-nickel coins of 1865 with similar five-cent copper-nickel coins authorized by the Act of May 16, 1866. Both denominations have planchets composed of 75% copper blended with 25% nickel. When initially discussed the proposed weight of the new copper-nickel coin was to be around 30 grains, or about one and half times the existing but not currently circulating silver half dime. As discussions progressed, Joseph Wharton, whose nickel output was larger than any other and who essentially controlled the market, was able to convince Congress to increase the weight to 77 grains, thereby using more nickel for each coin produced (the Wharton School at the University of Pennsylvania bears his name today). Mint Engraver James Barton Longacre designed the new coin, with the obverse displaying a large central shield with arrows crossed at its base, draped in a hanging wreath with a broad cross above. The date is below and the motto IN GOD WE TRUST is in small letters at the top. For the reverse a large Arabic 5 is central, with 13 small stars surrounding, with 13 glory rays, each alternating in sequence around the 5. Above the 5 is the legend UNITED STATES OF AMERICA with the word CENTS below.<p>The inclusion of the rays on the reverse proved to be problematic. The combination of copper and nickel produced a very hard planchet that was difficult to strike up fully with the intended designs. Furthermore the nickel alloy was so hard that the dies soon developed cracks and did not last long during the coining process. When complaints reached Treasury Secretary McCulloch, he promptly ordered the rays be removed on January 21, 1867, and production was halted until new dies could be created, which came into production on February 1, 1867.<p>Research by R.W. Julian found that Chief Coiner Snowden delayed striking Proofs of the Rays design for inclusion in annual Proof sets for the initial weeks of January in 1867. However, it is entirely likely that Mint Director Henry Linderman had the 1867 Rays Proofs struck clandestinely to be distributed to his collector friends, as was common during the Linderman era at the Philadelphia Mint. The fact that at least four different die marriages exist of this rare coin in Proof finish (per the research of John Dannreuther, in particular), seems to point to multiple striking periods, perhaps well after the designs had been replaced by the No Rays style (although there is no evidence on the timing beyond the coins that exist today).<p>Exactly how many coins were struck also remains a mystery, although it was probably on the order of only 100 or so coins given an extant population of approximately 60 coins (per <em>PCGS CoinFacts</em>). The Proof 1867 Rays five-cent coin remains one of the key issues to the Shield nickel series and to the entire copper-nickel five-cent series.,PCGS# 83818. NGC ID: 26G7.,PCGS Population: 8; 9 finer in this category (Proof-66 Cameo finest).,From the Lux Family Collection, begun as early as the 1850s.

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