1868 Shield Nickel Coin Value: How Much Is It Worth Today?

The 1868 Shield Nickel holds a quiet but steady appeal in the coin collecting world. As the third-year issue of America’s first copper-nickel five-cent piece, it sits at an accessible entry point for collectors exploring 19th-century U.S. coinage.

Condition has an outsized effect on 1868 nickel value, and the price spread makes that clear. A well-worn example in Good grade starts around $43.80, while a mint-state coin can climb to $625 or beyond.

Both new and advanced collectors are actively building sets, which keeps steady demand behind this issue. For those drawn to proof strikes, the spread grows even wider, with a Deep Cameo specimen reaching as high as $17,700.

 

1868 Nickel Value By Variety

The chart below breaks down 1868 nickel value across different strike types and grades, from circulated examples to rare proof specimens. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Rarest Nickels Worth Money (Most Expensive)

 

Top 10 Most Valuable 1868 Nickel Worth Money

Auction records since 2004 reveal just how much top-tier examples of the 1868 nickel can be worth, and condition plays a bigger role than most people expect.

The highest sale on record belongs to an 1868 Rev of 1868, FS-901 graded MS67, which brought in $12,600. Close behind, a PR66+ Cameo realized $11,163, while a PR66 Deep Cameo reached $9,400. These results confirm that proof quality and surface contrast matter greatly to serious buyers.

On the business strike side, an MS67 example sold for $9,000, showing that circulation coins in exceptional condition are just as competitive in the market.

Error coins can also command real premiums. A Repunched Date FS-309 graded MS66 sold for $3,120, which highlights that minting errors are worth paying attention to when evaluating your coin.

 

History of the 1868 Nickel

The Shield Nickel was introduced in 1866, born out of the economic disruption that followed the Civil War. Hard money had largely vanished from circulation, and Congress needed a practical metallic solution for everyday commerce. The copper-nickel five-cent piece was the government’s response to that shortage.

By 1868, the United States was in the middle of the Reconstruction era. Thousands of miles of new railroad track were being laid across the country, and the economy was expanding rapidly. A reliable small-denomination coin was in steady demand as trade and daily transactions picked up across the nation.

The 1867 redesign of the reverse had not fully solved the problems of short die life and inconsistent striking, and pattern coins were explored in 1868 with a view to a future redesign.

For collectors today, the 1868 nickel is more than just a coin. It is a small piece of a country working through one of the most consequential periods in its history.

Also Read: Top 60+ Most Valuable Buffalo Nickels Worth Money

 

Is Your 1868 Nickel Rare?

You can check your coin’s rarity rating anytime with the CoinValueChecker App.

 

Key Features of the 1868 Nickel

Next, we’ll learn more about the features of the 1868 Shield nickel. Knowing these physical attributes will help you authenticate and grade your coin and even better, identify high-value Shield Nickels worth adding to your collection.

The Obverse of the 1868 Nickel

The obverse shows a detailed image of the United States shield, which in itself is symbolic of the country’s strength and ability to self-protect.

The upper part of the shield features horizontal lines symbolic of Congress or the Federal Government, which has the ultimate authority over the nation. The second part comprises of 13 vertical lines representing the states that are under the leadership of the federal government.

Two crossed arrows emerge at the bottom from behind the shield and symbolize the country’s readiness to defend itself against any aggression. Laurel branches hang from both sides of the shield and represent victory.

The Reverse of the 1868 Nickel

The reverse displays a large number 5, representing the coin’s denomination. The numeral is encircled by thirteen stars, which represent the thirteen original states.

The inscription CENTS, also pointing to the coin’s denomination, is etched at the bottom. Meanwhile, the words UNITED STATES OF AMERICA are etched in an arch at the top. Two periods are also shown, one on the left and the other on the right.

Other Features of the 1868 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 100 Most Valuable Jefferson Nickels Worth Money List (1938-Present)

 

1868 Nickel Mintage & Survival Data

The mintage gap between circulation strikes and proof coins is substantial. With 28,817,000 business strikes produced compared to just 600 for the Proof, CAM, and DCAM types, proof strikes were clearly made in very limited quantities and intended primarily for collectors.

The survival data offers useful context here. Only about 40,000 of those circulated examples are estimated to have survived, giving a survival rate of just 0.1388%. Proof coins, on the other hand, show a survival rate of 91.6667%, with roughly 550 of the original 600 still accounted for today.

Survival figures for CAM and DCAM examples remain unknown, which reflects just how scarce and difficult to track these high-grade proof specimens can be.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1868 Nickel Value

Two key factors shape the 1868 nickel value: the strike type and the coin’s condition. A business strike in Good grade sits in a very different price range from a Proof or Deep Cameo specimen, so identifying your coin type is a useful place to begin.

Pay close attention to wear, surface condition, and luster, as these give a reliable indication of the coin’s grade, whether it falls in a lower, mid, or high range.

For a quick and accurate result, the CoinValueChecker App can check your coin’s grade instantly.

 

1868 Nickel Value Guides

The 1868 Shield Nickel is found in four main types, ranging from the everyday circulation strike to rare high-grade proof specimens.

• 1868 No Mint Mark Nickel — the standard circulation strike, the most commonly encountered type today
• 1868 Proof Nickel — struck with specially prepared dies for collectors, featuring sharper details and a more reflective surface
• 1868 CAM Nickel — a proof coin with frosted devices set against a mirrored background, creating a subtle cameo contrast
• 1868 DCAM Nickel — the deepest level of cameo contrast, with bold, heavily frosted devices that stand out dramatically against a mirror-like field

Each type occupies a different place on the value scale, so identifying yours is a practical step.

 

1868 No Mint Mark Nickel Value

The 1868 No Mint Mark Nickel is the standard circulation strike of the series, and one of its more accessible entries for collectors at lower grade levels. Compared to earlier issues, this coin is generally known for its relatively good strike quality, though surface preservation can vary from example to example.

Examples are easy to find across most grades, but become quite scarce at MS67. Gem examples in MS65 can fetch around $800, while an MS66+ has sold for up to $3,840. At the top of the spectrum, an MS67 realized $9,000 at Heritage Auctions in 2025, the highest recorded sale for this type.

Take a look at the auction chart below for a closer view of how sale prices have moved over time.

The market activity chart below shows how actively this coin has been trading.

 

1868 Proof Nickel Value

The 1868 Proof Nickel was produced specifically for collectors, struck with specially prepared dies that delivered sharper details and a highly reflective field. These were sold as part of proof sets at the time and were never intended for everyday use.

Entry-level proof examples in PR60 can be found for around $350, while a PR63 typically fetches up to $500. At PR65, prices reach up to $1,100, and a PR66 can sell for as much as $2,100. In a notable 2006 sale, a PR66 realized $4,600 at auction.

Surface quality plays a significant role here. Even among proof strikes, the level of reflectivity and detail preservation can vary, and these differences have a real impact on where a coin lands on the value scale.

The auction chart below tracks how prices for this type have played out over time.

The market activity table below reflects how buyer interest in this coin has shifted.

 

1868 CAM Nickel Value

The 1868 CAM Nickel is a proof coin that carries an added visual distinction: frosted devices set against a reflective mirrored field, creating a subtle but noticeable contrast between the two surfaces. Cameo examples are scarce and command significantly higher prices than standard proof strikes.

A PR64 can sell for up to $850, while a PR66 typically fetches around $3,000. At the PR67 level, examples have reached up to $7,500. The price gap between grades is notably wide here, which makes surface quality especially important when assessing what a specific example is worth.

In 2019, Legend Rare Auctions sold a PR66+CAM for $11,163, a result that reflects just how much collectors are willing to pay for a well-preserved cameo example at the top of the grade scale.

Past auction results for this type are listed in the chart below.

The market activity data below captures how collector demand for this coin has moved in recent periods.

 

1868 DCAM Nickel Value

Among all 1868 proof types, the DCAM Nickel sits at the top. Deep Cameo coins are distinguished by their heavily frosted devices and deeply mirrored fields, a combination that produces a bold, high-contrast appearance that standard proof strikes simply do not have. These specimens are far and few between.

Auction records put the value of top examples in clear perspective. Heritage Auctions sold a PR66 DCAM for $9,400, a result that reflects the serious collector demand behind this type. For anyone fortunate enough to come across one, condition and surface contrast are the two factors that will matter most to prospective buyers.

Recorded sales for this type are laid out in the auction chart below.

How this coin has performed in the market over time is worth a look — see the activity data below.

Also Read: 22 Rare Nickel Errors List with Pictures (By Year)

 

Rare 1868 Nickel Error List

The 1868 Shield Nickel is one of the richer series for error coin collectors. The rapid failure of dies and the large number of dies needed to meet production demands led to hasty work, resulting in a wide range of varieties. Each error type has its own diagnostic features, and knowing what to look for can make a real difference in spotting something valuable.

1. 1868 Doubled Die Obverse

This error occurs when the obverse die received multiple impressions from the hub at slightly different angles during production. On 1868 Shield Nickels, doubling is most noticeable on the inscription IN GOD WE TRUST and the date. The stronger and more visible the doubling, the more collectors are willing to pay for the coin.

Condition plays an important role in value here. In 2010, Heritage Auctions sold an 1868 Shield Nickel graded AU58 with an obverse doubled die error for $300. Examples in higher grades with bold, well-separated doubling would naturally command a greater premium.

2. 1868 Repunched Date

Repunched Date errors form when mint workers manually punched the date into a working die multiple times without perfect alignment, creating overlapping date numerals. On 1868 examples, this typically shows as a ghost or shadow impression behind or below one or more of the date digits.

Subtle RPD varieties showing faint underlying numerals command modest premiums, while specimens displaying bold, well-separated multiple strikes attract significantly higher collector interest.

To put that in perspective, an RPD FS-309 graded MS66 realized $3,120 at Heritage Auctions in 2023, a result that reflects how much collectors value a bold, well-attributed example.

3. 1868 Misplaced Date

Misplaced Date errors emerged when mint employees accidentally punched a date digit into the wrong area of a die — typically near the denticles below the date or in an adjacent field. On the 1868 Shield Nickel, a partial digit in an unexpected location is the key diagnostic feature to look for.

Collectors particularly value examples where the misplaced element creates an unusual visual impact. The more clearly visible the misplaced digit, the more desirable the coin becomes to variety specialists.

4. 1868 Doubled Die Reverse

The Doubled Die Reverse occurs when the reverse die was hubbed more than once with slight misalignment. On the reverse of 1868 Shield Nickels, doubling may appear on UNITED STATES OF AMERICA, the word CENTS, and the stars surrounding the numeral 5.

As with the obverse version, the degree of doubling directly affects collector interest. Examples where the doubling is visible to the naked eye tend to attract more attention at auction than those where magnification is required to detect it.

5. 1868 Circular Scribe Mark

Circular scribe mark errors appear as faint circular arcs on Shield nickels, most notably documented on 1868 examples designated FS-401. These marks originated during die preparation when engravers used compass-like tools to lay out design elements and establish centering points.

Normally these preparatory layout lines would be polished away before the die entered production, but occasionally they survived and transferred onto struck coins.

True scribe marks follow perfect circular arcs consistent with compass geometry and appear on multiple specimens from the same die pair, which helps distinguish them from post-mint scratches. This variety tends to appeal more to specialists than to general collectors.

6. 1868 Missing Leaf

The Missing Leaf error on Shield nickels occurred because the master hub used from 1866 through 1869 lacked a leaf on the right side of the second right leaf cluster. These leaves required hand engraving onto each die, and occasionally mint workers simply forgot to add the extra leaf, creating this distinctive variety.

Hand engraving produced wide variance in leaf shapes and sizes, making careful comparison useful for authentication. While this error does not command the highest premiums in the series, it remains a well-documented variety that appeals to collectors focused on the history of 19th-century die-making.

 

Where to Sell Your 1868 Nickel?

You now have a solid understanding of what the 1868 nickel is worth. The next question is where to sell it. Check out our list of the best places to sell coins online, complete with introductions, pros, and cons for each.

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

 

FAQ about the 1868 Nickel

1. Why does the 1868 nickel have so many errors and varieties?

The 1868 Shield Nickel recorded the second-highest mintage in the entire series. To keep up with production demands, a large number of dies were needed, and many were prepared hastily. That pressure led directly to doubled dies, repunched dates, and other varieties.

Numismatic scholar Q. David Bowers described the 1868 nickel as “a playground for repunching, errors, and the like.” For variety collectors, that makes this a particularly rewarding year to search through.

2. Is the 1868 nickel a good coin for new collectors?

It is a reasonable starting point for anyone exploring 19th-century U.S. coinage. Circulated examples in Good grade are available for around $43.80, and coins in mid-range grades remain accessible without a significant budget commitment.

As condition improves, so does the challenge and the reward. MS65 examples can reach around $1,000, and the top of the spectrum opens into proof territory, where Deep Cameo specimens have sold for as much as $17,700.

3. How do I tell a proof 1868 nickel apart from a business strike?

Proof coins were struck with specially prepared dies, producing sharper details and highly reflective fields. A business strike, even in high mint state, will not have that same mirror-like surface quality.

Look closely at the fields — the flat areas between the design elements. On a proof, those surfaces should appear glassy and deep. Frosted devices on a Cameo or Deep Cameo proof create a clear visual contrast against that reflective background, which is something a circulation strike simply cannot replicate.