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 Replies: 11 / Views: 1,317 |
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Pillar of the Community
527 Posts |
Both of them are dated 1866 and 1867 and each one cost me $4.40 (by the same person). I have a feeling the coins will look worse in person than in the pictures, but I don't own any Shield nickels and they're pretty pricey I hear. The coins have yet to arrive, but here are some pictures:     I welcome your Two Cents on this matter, or rather, five cents  |
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Valued Member
United States
438 Posts |
Sorry to say, the top piece is not an 1866, it is most likely an 1868. A real 1866 would have rays on the back side like your 1867 does. Still not a bad deal at that price.
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Pillar of the Community
 527 Posts |
Quote:
Sorry to say, the top piece is not an 1866, it is most likely an 1868. A real 1866 would have rays on the back side like your 1867 does. Still not a bad deal at that price. Do you think the person lied about having an 1866 or misread the date? |
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Valued Member
United States
438 Posts |
It is very possible that they misread the date. It is fairly well worn. Without any basic knowledge of the series they would not have known about the rays. The 1866 is worth about double the 1868 in low grade so it may have also been wishful thinking on their part. You did fine anyway as the 1867 is worth about what you paid for both, so no worries.
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Pillar of the Community
1028 Posts |
I've done some dealing with Shield nickels on ebay. Based off my experiences they are probably the series where prices are most off from what you see in price guides. One can, with little effort, purchase these pieces for prices half or less of what the fmv value is. I also have never been able to sell a single one for its fmv price for the grade. Based off my experiences, the price guides are very wrong on this series. Call me crazy, but I'd put the actual market value of these coins at about $7 and $3 (its not an 1866). Depending on your shipping charges you may have about broke even |
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Pillar of the Community
527 Posts |
Thanks man, appreciate your help. Quick question: Why do some Shield nickels have rays and some don't? I don't understand the point of that design. |
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Pillar of the Community
United States
968 Posts |
I'm not sure why they got rid of the rays, but you will only see them on 1866 (all of them) and some 1867 coins. Since they changed the design mid-year, and less than 2 years into the series, there is probably a reason behind it.
As for the seller mislabeling the coin... does he sell a lot of coins? If he sells a lot of coins then I'd expect him to know an 1866 has rays. Otherwise it is probably just a mistake.
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Valued Member
United States
438 Posts |
The rays were removed because they caused problems with the die life. The dies were wearing out very fast and had to be replaced too often, so they were dropped from the design during 1867.
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Pillar of the Community
United States
1510 Posts |
Rays look the coolest
Retired USAF 1983-2003
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Pillar of the Community
527 Posts |
Quote:I've done some dealing with Shield nickels on ebay. Based off my experiences they are probably the series where prices are most off from what you see in price guides. One can, with little effort, purchase these pieces for prices half or less of what the fmv value is. I also have never been able to sell a single one for its fmv price for the grade. Based off my experiences, the price guides are very wrong on this series. Call me crazy, but I'd put the actual market value of these coins at about $7 and $3 (its not an 1866). Depending on your shipping charges you may have about broke even The shipping for each nickel was $3.41. I was the only one who bid on the nickels at $0.99 a piece. |
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Pillar of the Community
1028 Posts |
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The shipping for each nickel was $3.41. I was the only one who bid on the nickels at $0.99 a piece. I suppose you did alright then, overall. If you decide to purchase any more Shield nickels, my advice would be to decide on a grade, check the fmv value, and literally divide it by 3 to get your max bid....that seams to be the market on these guys. Higher end ones (XF, AU , MS) are closer, but still way overpriced in price guides. |
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Pillar of the Community
United States
1007 Posts |
I'm just starting with Shield nickels now, with 3. Since I'm almost done with my Buffalo set (one coin to go) it's the next logical step. It's an interesting series. |
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Replies: 11 / Views: 1,317 |
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Posted 11/23/2011 9:18 pm
