Are you collecting shield nickels and came across the 1872 issue? Are you curious whether this historical coin might be worth a fortune? You’re in the right place! Whether buying or selling, our guide will take you through all the details you need to know about the 1872 shield nickel value.
With one of the highest mintages in the series, the 1872 shield nickel is relatively collectible, and for a small fee, you can add an uncirculated specimen to your collection! Read on to discover more, including the origins of the shield nickel, features you can use to authenticate and grade your 1872 shield nickel, and high-value minting errors worth collecting.
So, let’s jump in and find out: how much is a 1872 shield nickel worth?
1872 Shield Nickel Value Chart |
||||
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1872-No Mint Mark Shield Nickel Value | $50 | $100 | $150 | $14,500 |
| 1872 Proof Shield Nickel Value | – | – | – | $3,250 |
History of the 1872 Shield Nickel
Shield nickels were the first five-cent pieces to be struck in a copper-nickel alloy. Since 1792, the United States Mint had struck five-cent pieces in silver, which were known as half dimes. In fact, these were the first coins the Mint ever struck.
At the peak of the Civil War, most American coinage was withdrawn from circulation. However, by 1864, Congress authorized the Mint to restore the lost coins and eliminate others. For example, two-cent pieces and bronze cents replaced the three-cent note. But no sooner had these new coins been released into circulation did they vanished again.
The following year, Congress once more authorized the Mint to produce three-cent pieces made from 75% copper and 25% nickel. Although Mint Director James Pollock was initially opposed to the copper-nickel coin, he changed his mind after witnessing the popularity of the three-cent piece. Pollock became a strong advocate for a five-cent copper-nickel coin that would replace the five-cent note, which had become increasingly unpopular. A bill proposed by Pollock, authorizing a five-cent coin, was passed in May 1866, paving the way for production.
In the interest of time, the Mint’s Chief Engraver, James Longacre, had to prepare designs for the new coins fast. Even before the bill authorizing the five-cent coin was passed, Longacre had already designed patterns, with one of these patterns being similar to the two-cent piece he had designed earlier, before it disappeared from circulation.
For the new five-cent piece, Longacre changed a few details of the two-cent design, including removing the scroll with the inscription “IN GOD WE TRUST”, adding a cross at the top of the shield, and moving the two arrows to the bottom of the shield. The new coins, whose reverse featured the number 5 surrounded by a representation of the sun’s rays, proved difficult to strike. This prompted the Mint to alter the design in 1867 by eliminating the sun rays, but this wasn’t very helpful either.
By 1869, production of the five-cent nickel began a downward decline and by 1871, the mintages were so low that Congress passed a law allowing the Treasury Department to redeem nickels when merchants presented nickels in lots of $20 and more. Interestingly, the following year, in 1872, the mintage of shield nickels shot dramatically to more than 6 million from a low of just half a million in 1871. The reason for this drastic increase in production is unknown, but what’s certain is that the 1872 shield nickel is among the most common in the series. That said, this coin is still worth collecting for its historic significance and also high value in Mint State and Gem condition.
In the following sections, we’ll find out about the 1872 shield nickel value and why this coin might be worth a spot in your collection.
Also read: Top 10 Most Valuable Nickels Worth Money
Features of the 1872 Shield Nickel
Let’s explore the standout features of the 1872 shield nickels. These features will come in handy when authenticating and grading your copper-nickel coin, identifying high-value shield nickels worth good money.
Here’s what to look out for:
Obverse of the 1872 Shield Nickel
The “heads” features an intricate image of a shield from which the design derives its name. The shield itself represents non-aggression and self-protection. The vertical lines at the top part of the shield represent the federal government and its overall authority, while the horizontal lines symbolize the states under the federal government’s oversight. As a whole, the entire image represents strength in the unity between the federal and state governments.
There’s a cross at the top of the shield representing divine authority over the nation. Two crossed arrows emerge at the bottom and from behind the shield, representing victory and a readiness to self-defend against outside aggression.
A laurel with leaves hanging from either side of the shield is symbolic of peace. The inscription IN GOD WE TRUST is etched at the top along the edge, while the date 1872 is inscribed at the bottom.
Reverse of the 1872 Shield Nickel
The “tails” shows the number 5 boldly displayed at the center of the coin and surrounded by thirteen stars, which represent the original states to join the union.
Along the outer rim is the inscription, UNITED STATES OF AMERICA, and the coin’s denomination, CENT. Like the obverse, denticles decorate the rim on the reverse.
Other Features of the 1872 Shield Nickel
Additional features worth noting include:
- Diameter: 20.50 millimeters
- Weight: 5.00 grams
- Edge: Plain
- Metal Composition: 75% Copper, 25% Nickel
Also read: Top 17 Most Valuable Buffalo Nickel Worth Money
1872 Shield Nickel Value Guides
So, how much is a 1872 shield nickel worth? The value depends on the coin’s condition and rarity. Most 1872 shield nickels are well struck, although circulated survivors are heavily worn, a quality that can lower the coin’s value.
We’ll look at the two varieties of the 1872 shield nickel:
- 1872 No-Mint mark Shield Nickel
- 1872 Proof Shield Nickel
Let’s find out how much each is worth:
1872 No-Mint mark Shield Nickel Value
The Philadelphia Mint struck 6,036,000 five-cent pieces in 1872, one of the highest mintages in the entire series. Just for perspective, the shield nickel mintage in 1871 was 561,000, so the increase in production in 1872 was dramatic. As a result, shield nickels dated 1872 are common in all grades, although Mint State examples are scarce, and Gems are genuinely rare.
Here’s what to expect when collecting 1872 shield nickels:
- Circulated Examples: These are plentiful in all grades, but the population begins a steady decline in About Uncirculated (AU53). Although most survivors are heavily worn, many are still gradable and collectible. In Poor/Average, examples can sell for up to $40 and as much as $75 in Very Good (VG) condition. Examples graded Fine (F) can fetch as much as $100, while an Extremely Fine (XF) is worth about $150. About Uncirculated (AU58) shield nickels are scarce, commanding at least $255.
- Mint State Examples: Uncirculated examples of 1872 shield nickels are more common than in previous or subsequent dates, but the population of collectible specimens is still small, although survivors exist until MS65.
- Auction Record: In a 2013 sale, Stack’s Bowers auctioned a rare MS67 for an impressive $25,850, making this one of the most valuable 1872 shield nickels.
1872 Proof Shield Nickel Value
Only 950 proof shield nickels were struck in 1872 at the Philadelphia Mint. These silver coins were popular, but they still had the same strike quality issues seen in many of the proofs struck in the 1870s. In particular, the coins show signs of poor polishing and incomplete striking, leading to less than attractive proofs.
Here’s a breakdown of the value of 1872 proof shield nickels:
- Regular Proofs: These are more common than their cameo and deep cameo counterparts. Most examples are graded PF60 to PF65 and are generally affordable for many collectors. For instance, in PF60, proofs can sell for up to $225, and the prices double to as much as $565 for pieces graded PF64. Rare PF66 specimens can fetch up to $1,300 while PF67 examples can command prices as high as $3,250. In a record-shattering sale in 2014, Goldberg Auctioneers auctioned a PF67 for an impressive $4,935.
- Cameo (CAM): Cameos are scarce to rare as reflected by their prices. In PF63, specimens can fetch as much as $500 and up to $900 in PF65. Examples graded PF66 are genuinely rare and can command up to $1,250, while a PF67 is worth up to $3,500 or more. In 2011, Heritage Auctions sold a PF67 for an impressive $7,475.
- Deep Cameo (DCAM): Deep cameo specimens are extremely rare, often commanding significant premiums. In PF66, examples can sell for as much as $11,250 and up to $14,000 in PF66. In a 2017 auction, Heritage Auctions sold a PF67DCAM for a record-breaking $11,163.
Also read: Top 17 Most Valuable Jefferson Nickels Worth Money
1872 Shield Nickel Grading
To grade a 1872 shield nickel, start by examining its wear, strike quality, and surface appeal. Check the high-contact points, which wear out first. These include the vertical and horizontal lines on the shield, laurel leaves, and inscriptions, including IN GOD WE TRUST and the date on the obverse. On the reverse, examine the sharpness of the number “5” and the stars to assess the extent of wear. Faint details on the high-contact areas point to a lower grade.
Fine and higher-grade shield nickels will have sharper details, minimal wear, and in mint state coins, full original luster. To be sure, compare your shield nickel with certified, authentic examples from the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Company (NGC).
Check out this video for more tips on grading shield nickels.
Rare 1872 Shield Nickel Errors List
Although the 1872 shield nickel was generally well-struck like others in the series, a few minting errors are seen on this date. Let’s take a look at some that can significantly raise the regular value of your shield nickel.
1. 1872 Shield Nickel Doubled Die Obverse Error
The doubled die obverse is a common error seen on 1872 shield nickels. This minting flaw occurs when the die strikes the planchet in different positions multiple times, resulting in the doubling of the inscriptions and design elements on either side of the coin.
Generally, the stronger the doubling, the more valuable the error tends to be. In a 2008 sale, an eBay collector paid an impressive $1,555 for a 1872 shield nickel graded PF60 with a doubled die obverse error, making this error a worthwhile addition to any collection.
2. 1872 Shield Nickel Re-Punched Date Error
A re-punched date error is one in which a new date is punched over a previous date. For example, some shield nickels will show the number 2 in “1872” punched over the last 1 in “1871.” This error is common in 18th to 20th-century coins struck by hand. Dates were punched manually into the die, increasing the chances of errors and also making it difficult to correct them.
A re-punched date may occur due to the date being erroneously punched into the die and mint workers subsequently trying to correct the error. Also, the usage of dies from the previous year, and re-punching them with new dates may result in the fascinating re-punched date error.
This error can add $50-$200 to the regular value of your shield nickel. For example, in 2005, a collector paid $350 for a 1872 shield nickel graded Extremely Fine (XF) with a re-punched date error.
3. 1872 Shield Nickel Rotated Die Error
Rotated die errors are less common, but they’ve still been discovered in the shield nickel series, including the 1872 date. With a rotated die error, the design on either side of the coin appears rotated at an angle due to a misalignment between the die and planchet.
Ideally, the design on either side of the coin should appear upright, but the misalignment causes a dramatic rotation that has fascinated collectors for decades. The greater the rotation, the more eye-catching and valuable the error tends to be. For example, a 55-degree rotation will generally be more valuable than a 20-degree rotated die error. In 2010, Stack’s Bowers auctioned a 1872 shield nickel graded MS65 with a 40-degree rotated die error for $2,000.
Also read: 14 Most Valuable Nickel Errors Worth Money
Where to Sell Your 1872 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 1872 Shield Nickel worth?
The value of a 1872 shield nickel depends on its condition and rarity. Circulated examples are common and heavily worn, with prices ranging from $40 to about $255. Mint State examples are scarce in higher grades and command prices between $270 and as much as $14,500.
Is a Shield Nickel silver?
No. Despite their silverish color, shield nickels, including those minted in 1872, are not silver. The silverish appearance comes from the nickel in the coin’s metal composition.
How do I know if my shield nickel is valuable?
To determine if a shield nickel, including one struck in 1872, is valuable, start by assessing the condition. Shield nickels in unusually good condition are extremely rare, and if you come across one, it might be worth a fortune. Also, check for unusual features such as doubling, rotated dies, die breaks, and re-punched dates; these minting errors can significantly increase the regular value of your shield nickel.
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