1870 Shield Nickel Coin Value: How Much Is It Worth Today?

Are you interested in collecting Shield Nickels and wonder how much these coins might be worth? Or, maybe you’ve come across a 1870 shield nickel and are curious whether it’s worth money? If so, this guide will answer all your questions about how much a shield nickel is worth.

We’ll explain the interesting history of the 1870 shield nickel, key features that will help you grade and authenticate your coin, and tips for grading it like a pro. You’ll also discover fascinating minting errors that can raise the value of an ordinary shield nickel.

So, let’s jump in and find out the 1870 shield nickel value and whether this coin is worth a spot in your collection.

Content Run-Down Toggle 1870 Shield Nickel Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1870-No Mint Mark Shield Nickel Value	$40	$80	$150	$5,000
1870 Proof Shield Nickel Value	–	–	–	$2,000

 

 

History of the 1870 Shield Nickel

The 1870 shield nickel is an early coin minted as part of the Shield Nickel design struck by the United States Mint from 1866 to 1833, after which it was replaced by the Liberty Head nickel. The shield nickel is particularly interesting because it was the first copper-nickel five-cent coin minted in the U.S. Before this, and as early as 1792, the Mint only struck five-cent pieces in silver, but these vanished at the peak of the American Civil War.

In 1864, as the worst of the war subsided, Congress authorized the restoration of the lost coins, including the introduction of a three-cent piece made of 75% copper and 25% nickel, the first such coin to be minted in a copper-nickel alloy. At the time, James Pollock, the Mint’s Director, had been opposed to these copper-nickel coins but changed his mind when he witnessed the success of the three-cent piece. So impressed was Pollock that he campaigned for the introduction of a five-cent copper-nickel piece to replace the unpopular five-cent note. The bill authorizing the introduction of the five-cent piece was passed without much opposition in May 1866.

As production needed to start immediately, the Mint’s Chief Engraver, James Longacre, had to prepare the designs fast. In the interest of time, he used the pattern coins he had prepared for the two-cent piece several years before. Longacre then redesigned these patterns by moving the two arrows to the bottom of the shield, removing the motto IN GOD WE TRUST, and adding a cross at the top of the shield. For the reverse, he proposed several designs, but the Treasury Department approved the one with the number 5 at the center encircled by stars separated by rays.

Toward the end of 1869, the Mint had struck enough nickels, and production of these coins began dropping off. By 1870, production of the shield nickel had declined significantly, although the mintage was still close to 5 million, so survivors are still abundant today. This early coin is very collectible and if you’re lucky enough to find one in Mint State, it could be worth a small fortune.

Also read: Top 10 Most Valuable Nickels Worth Money

 

Features of the 1870 Shield Nickel

Next, we’ll look at the standout features of the 1870 shield nickel. By familiarizing yourself with these physical attributes, you can grade your coins more accurately and even spot 1870 shield nickels worth money.

Obverse of the 1870 Shield Nickel

The “heads” feature a shield, symbolic of strength and self-defense through unity. The top part of the shield, also known as the “chief,” represents Congress, while the 13 vertical lines symbolize the states. The shield, therefore, represents the strength of the federal government through the states’ unity.

Two crossed arrows emerge from the bottom of the shield and symbolize readiness to defend the nation while also representing nonaggression. The laurel leaves, hanging from either side of the shield, are symbolic of victory.

Reverse of the 1870 Shield Nickel

The “tails” features a simple design showing the number 5 at the center surrounded by thirteen stars, representing the states.

The inscriptions UNITED STATES OF AMERICA are etched around the upper half of the coin, while the denomination, inscribed as CENTS, is displayed at the bottom. The two inscriptions are separated by two periods each on either side of the rim.

Other Features of the 1870 Shield Nickel

Additional features worth noting are:

• Diameter: 50 millimeters
• Weight: 00 grams
• Edge: Plain
• Metal Composition: 75% Copper, 25% Nickel

Also read: Top 17 Most Valuable Buffalo Nickel Worth Money

 

1870 Shield Nickel Value Guides

Now, let’s find out: how much is a 1870 shield nickel worth? The value depends on the coin’s condition and scarcity. Lower grade examples are more common, but Mint State examples are scarce and more valuable.

The 1870 shield nickel was minted at the Philadelphia Mint only. With a total of 4,806,000 nickels struck, this year had one of the lowest mintages in the Shield Nickel series, and by this time, it was clear that the era of the five-cent nickel was quickly coming to an end.

We’ll look at the two types of shield nickels minted at the Philadelphia Mint in 1870. These are:

• 1870 No-mint mark Shield Nickel
• 1870 Proof Shield Nickel

1870 No-Mint mark Shield Nickel Value

Less than 5 million nickels were minted in 1870, a significantly lower mintage than in previous years. Mint State pieces are relatively scarce, and Gem survivors are rare. The upside is that these nickels were generally better struck than previous issues.

Here’s a breakdown of the values:

• Circulated Examples: These are common and affordable for most collectors, with most examples graded Good (G) to Extremely Fine (XF). A piece in Poor/Average condition will sell for as much as $30, one graded Good (G) can be worth about $40, while one in Fine (F) is valued at about $80. An Extremely Fine (XF) example can sell for as much as $150, while a relatively scarce About Uncirculated (AU58) will bring in up to $285.
• Mint State Examples: Uncirculated 1870 shield nickels are scarce but become increasingly rare in higher grades. Lower grade Mint State examples are generally affordable, for example, an MS60 will sell for as much as $310 while an MS62 is worth about $375. Prices doubled in MS64, with pieces selling for as much as $875 and at least $1,850 in MS65. Gems graded MS66 and higher are genuinely rare and will command premium prices. An example in MS66 can sell for up to $5,000.
• Auction Record: In a record-breaking sale in 2020, Legend Rare Coins Auctions sold an MS66 for an enviable $10,281, making this one of the most valuable 1870 shield nickels.

1870 Proof Shield Nickel Value

In addition to regular business strikes, the Philadelphia Mint also struck proof shield nickels. Although the actual number remains unknown, it is estimated that 1,000 of these proof coins were struck that year.

Made from the same copper-nickel alloy as their business strike counterparts, many of the 1870 proofs were not as well-struck as in earlier years; survivors display abrasive polishing that can lower their value.

So, how much are 1870 proof shield nickels? Here’s what to expect:

• Regular Proofs: These are relatively common and accessible in lower grades. In PF60, examples will sell for as much as $230, while PF63 is worth at least $425. In PF65, prices are a bit higher, with examples selling for as much as $1,000, while in PF66, you can expect up to $2,000 apiece. In 2011, Stack’s Bowers sold a PF66 for an impressive $3,163.
• Cameos: A cameo coin has a frosted finish as opposed to the mirrored finish seen on regular proof coins. Cameo examples of the 1870 shield nickel are scarcer than their regular proof counterparts, with prices starting at about $500 for a PF63 and doubling to about $1,150 for a PF65. A rare PF66 will command up to $2,250 while a Gem cameo in MS67 can sell for at least $5,250. In a 2020 sale, Stack’s Bowers auctioned a PF67 for an impressive $14,400.

Also read: Top 17 Most Valuable Jefferson Nickels Worth Money

 

1870 Shield Nickel Grading

You can grade a 1870 shield nickel by looking at its key features. In particular, pay attention to the shield including the cross at the top, vertical and horizontal lines, crossed arrows, and laurel leaves. On the reverse, examine the number 5 and the stars.

In lower grades, the details on the coin will be weak, flat, and heavily worn, and the outlines will be almost non-existent. These features will be slightly more visible on medium-grade coins, and bolder, crisper, and clearer on Mint State uncirculated examples.

 

Rare 1870 Shield Nickel Errors List

Although the 1870 shield nickels were generally well-struck, some minting errors show up in this issue.  Not all errors are valuable but some can significantly raise the regular value of your shield nickel.

Here are some 1870 shield nickel errors worth adding to your collection:

1. 1870 Shield Nickel Die Crack Error

Die crack errors were very common in the previous issues of the shield nickel. Although not too common on the 1870 issue, this minting error is still worth collecting.

A die crack occurs when the die’s surface develops cracks due to wear, and these gaps are gradually filled with small metal pieces as the die continues to be put to use. In the course of the die striking, the metal-filled cracks leave their impression on the coin’s surface, resulting in raised lines on either side of the coin.

Large, dramatic cracks are more appealing and will usually fetch more than smaller, subtle die cracks. In 2020, a collector on eBay paid $200 for a 1870 shield nickel graded Extremely Fine (XF) with a large, diagonal, obverse die crack error.

2. 1870 Shield Nickel Rim Cud Error

Another interesting minting error that shows up in this issue is the rim cud, which also occurs when a piece of the die’s rim falls off and the gap is filled with small metal pieces. When the die strikes, the metal-filled gap along the rim is transferred to the coin, resulting in a raised bump along the rim.

Like die cracks, rim cuds are more valuable when they are large and visible. In 2019, a collector paid an impressive $150 for a 1870 shield nickel graded Fine (F) with a rim cud.

3. 1870 Shield Nickel Double Struck Error

Due to the manual minting process, double-struck errors are common on early coins such as the 1870 shield nickel. If the first strike was not strong enough, the mint worker delivered a second strike, sometimes at a slightly different position than the first strike.

This error happens when the die transfers the design to the coin twice, such that the first and second strikes overlap each other. So instead of just one image of Liberty’s portrait, there’d be two, three, or more of these images, one overlapping the other.

A double strike is one of those errors that immediately catch your attention and is, unsurprisingly, highly sought after. In a 2021 sale, Heritage Auctions sold a rare 1870 shield nickel in MS63 with an obverse double-struck error for $700.

4. 1870 Shield Nickel Over-date Error

Overdate errors are rare but very collectible. This minting flaw happens when a date is punched over ana die with an existing date. For example, some shield nickels have an 1870/1866 overdate error where the numbers “1870” were punched over a die with the 1866 date on it. You’ll likely need magnification to notice signs of overpunching where the 70 and 66 overlap.  In 2008, Legend Rare Coins Auctions sold a 1870 shield nickel in MS63 with an overdate error for an impressive $950.

Also read: 14 Most Valuable Nickel Errors Worth Money

 

Where to Sell Your 1870 Nickel?

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons. 

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

FAQs

How much is a 1870 shield nickel worth?

The value of a shield nickel from 1870 depends on its condition and rarity. Worn or circulated examples can sell for $30 to at least $285, but Mint State pieces, which are comparably rarer, will fetch anything between $300 and $5,000 or more.

Is a 1870 shield nickel rare?

Yes, 1870 shield nickels in Mint State or Gem condition are a rare find and can be worth a small fortune. Circulated examples are more common, but due to age, loss, and damage, the population of survivors is in decline. That said, circulated shield nickels can be worth good money if they are gradable and Mint State pieces are still collectible.

How do I know if my 1870 shield nickel is valuable?

To determine if your 1870 shield nickel is valuable, you should consider its condition, variety, and rarity. The coin is likely valuable if it is of a higher grade with a bold strike, strong outlines, crisp details, and mint luster. Die varieties or minting errors, such as double struck, overdates, and others, can also increase the coin’s rarity factor and value

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