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

Are you curious about the 1868 Shield Nickel value? Maybe you’ve come across this historic coin and are wondering how much it is worth. Or, perhaps, if you’re building your Shield Nickel set you might be curious whether this coin is worth pursuing and adding to your collection. This guide is for you! We’ll explain everything you need to learn about the 1868 nickel.

The 1868 nickel boasts the second-highest mintage in the entire Shield Nickel series. Even though it’s not necessarily a key date, owning a Mint State example would be any collector’s dream come true!

So, without further ado, let’s jump in and find out: How much is an 1868 Shield nickel worth?

1868 Shield Nickel Value Chart
Mint Mark	Good	Fine	Extremely Fine	Uncirculated
1868-No Mint Mark Shield Nickel Value	$35	$55	$110	$4,250
1868 Proof Shield Nickel Value	–	–	–	$4,600

 

History of the 1868 Shield Nickel

The 1868 nickel was the third-year issue of the historical Shield Nickel, the first five-cent piece in the United States to be struck from copper-nickel alloy. The United States Mint struck the shield nickel from 1866 to 1883 before it was replaced by the Liberty Head Nickel.

For most of the 18^th century, the Mint struck five-cent pieces, referred to as half-dimes at the time, in silver. However, these coins disappeared from circulation following economic recession caused by the Civil War. Congress responded by introducing two-cent coins and bronze cents, which were initially popular but eventually stopped circulating.

An additional three-cent piece, struck from 75% copper and 25% nickel, was introduced in place of the previous coins that had disappeared from circulation. Mint Director James Pollock had been skeptical about striking coins in nickel but he changed his mind after seeing how successful the copper-nickel three-cent piece had been. He then lobbied Congress to authorize the creation of a five-cent piece that would replace the unpopular five-cent note.

Industrialist Joseph Wharton, who monopolized the nickel mining industry and highly influential in Congress, successfully promoted the use of nickel in coinage. The bill for the introduction of the copper-nickel five-cent was passed in May 1866, paving for production.

Given that production had to start immediately, Chief Engraver James Longacre quickly produced pattern coins based on models he had produced in late 1865 for the two-cent piece. He made slight changes to the two-cent design by relocating the arrows, removing the flag with the national motto, IN GOD WE TRUST, and adding a cross above the shield.

The new coins became increasingly difficult to strike and were of poor quality, leading to a lot of criticism of the design. In an attempt to make the nickels easier to strike, the Mint changed the design in 1867 by removing the rays on the reverse of the coin but this didn’t help much.

Toward the end of 1868, the Mint had produced enough nickels and that year recorded the second-highest mintage in the entire Shield Nickel series. The high mintage resulted in a large number of minting errors including die cracks and chips, doubled die, and re-punched mintmarks.  That said, the 1868 nickel is certainly a worthwhile piece for the completion of any Shield Nickel collection.

Also read: Top 10 Most Valuable Nickels Worth Money

 

Features of the 1868 Shield 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.

Here are the standout features to lookout for:

Obverse of the 1868 Shield 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.

Reverse of the 1868 Shield Nickel

The “tails” side 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 CENT, 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; these are mostly decorative than symbolic.

Other Features of the 1868 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

 

1868 Shield Nickel Value Guides

The Philadelphia Mint, the only one at the time, struck about 28, 817,000 Shield Nickels in 1868, the second highest mintage in the entire Shield Nickel series.

The value of an 1868 nickel will mostly depend on its condition and rarity. Circulated examples are plentiful and Mint State examples are enough to meet collectors’ demand. In addition to regular strike circulation nickels, the Mint also struck proof coins whose values we’ll look at in a bit.

Overall, there are two varieties of the 1868 Shield Nickel:

• 1868 No-Mint mark Shield Nickel
• 1868 Proof Shield Nickel

Let’s take a look at how much each is worth:

1868 No-Mint mark Shield Nickel Value

Compared to the two previous years, the Shield Nickels struck in 1868 were of a better strike. But die cracks are exceeding common in this issue, which can sometimes lower the grade.

So, how much is an 1868 nickel worth? Here’s what to expect:

• Circulated Examples: Circulated nickels are abundant in lower and higher grades, and are generally affordable for most collectors. Examples graded Poor/Average will sell for as much as $25, a Good (G) one will go for about $35 and a Fine (F) one for up to $55. Extremely Fine (XF) examples are also plentiful and will sell for as much as $110 while sought-after About Uncirculated (AU58) examples will fetch up to $185.
• Mint State Examples: Uncirculated 1868 nickels are enough to allow cherry-picking. According to the Professional Coing Grading Service (PCGS) catalog, the highest graded Mint State example is an MS65. Gems are also collectible, with the finest being an MS67. Mint State specimens are relatively affordable across all grades. For example, an MS60 will sell for as much as $210, an MS62 for $300, and an MS64 for about $64. Gems will command premium prices of up to $1,275 for an MS65 and up to $4,250 for an MS66.
• Auction Record: In 2014, Stack’s Bowers auctioned an MS67 for an impressive $7,638, making this the most valuable 1868 Shield Nicke to date.

1868 Proof Shield Nickel

The Philadelphia Mint struck about 600 1868 Shield Nickel proofs, which were subsequently included in the silver proof and minor sets sold in 1868.

This issue’s mintage is quite high as far as the Shield Nickel series goes, although Ultra or Deep Cameos, and Cameos are scarce to rare. All in all, existing examples are well struck with satin finishes and frosted devices.

Here’s a breakdown of the value of an 1868 proof shield nickel:

• Regular Proofs: These are plentiful and accessible for many collectors. At PF60 examples will sell for as much as $240 and up to $440 for an PF63. Prices shoot up significantly at grade PF65, with examples selling for up to $1,600 and $2,200 for a PF66. In a record 2006 sale, Goldberg Auctioneers sold a PF66 for a remarkable $4,600.
• Cameo Examples: Cameos are scarce and will command significantly higher prices. At PR64, specimens will sell for up to $865, while a PR66 will fetch as much as $2,100. At PF67 Cameo examples can bring in up to $4,500. In 2019, Legend Rare Auctions sold a PF66 for an impressive $11,163.
• Deep Cameo Examples: Deep or Ultra Cameo specimen are far and few between. The few existing examples can be worth a fortune. Prices range from at least $4,250 for a PF65 to $5,825 for a PF66. In a record-shattering sale, Heritage Auctions sold a PF66 for $9,400.

Also read: Top 17 Most Valuable Jefferson Nickels Worth Money

 

1868 Shield Nickel Grading

When grading the 1868 nickel, there are some key details you should pay attention to. Keep an eye on the wear, surface condition and luster; these will give you a clue of the coin’s grade whether it’s a low, medium, or high-grade nickel.

On the obverse, examine the horizontal and vertical bars on the shield for signs of wear. In lower grade coins, these features will show extensive wear, including flatness or complete smoothness. Higher-grade nickels will show crisp, clear and well-defined lines and bars,

When you turn over the coin on the reverse, examine the number “5” and the stars, which are the most prone to wear. On uncirculated specimen, these design elements will be bold and well-define, and will show heavy wear in lower grade nickels.

Lastly, check if the coin has any remaining mint luster and whether there are signs of damages such as dings, scratches, and corrosion. Damage and a lack of luster can lower the grade.

Check out this video for more tips on grading your Shield Nickels.

 

Rare 1868 Shield Nickel Errors List

Although 1868 Shield Nickels were generally well-struck, some minting errors show up in this series. Depending on the coin’s condition and uniqueness, some errors can be worth a fortune.

Here are some 1868 nickel errors that might be worth adding to your collection:

1. 1868 Shield Nickel Die Crack Error

Die crack errors are common in the 1868 nickel series, which can mostly be attributed to the high mintage. This error occurs when cracks develop on the die’s surface due to natural wear, and small metal pieces gradually fill the cracks.

As the die continues to strike the planchets, the metal-filled cracks leave an impression on the planchets. Die cracks appear like raised lines on the coin’s surface, some of which can be quite dramatic.

Large, eye-catching die cracks are generally more valuable than smaller, subtle ones. In 2012, a collector paid $100 for an 1868 Shield Nickel graded Very Good (VG) with obverse and reverse die crack errors.

2. 1868 Shield Nickel Re-Punched Date Error

Another error that comes in the 1868 nickel series is the re-punched date in which one or more numbers are re-punched into the die and transferred onto the planchet. In this case, some of the dies used to strike 1867 Shield Nickels were re-punched with 1868 dates. So, nickels with a re-punched date error might show traces of the number “7” just below the “8” in 1868. Magnification is usually necessary for you to notice a re-punched date error. In 2015, an eBay collector paid $120 for an 1868 nickel graded Very Fine (VF) with a re-punched date error.

3. 1868 Shield Nickel Off-Center Strike Error

An off-center strike error happens when the die strikes the planchet away from the center and more toward the edge due to a misalignment between the die and planchet. So instead of the obverse or reverse design appearing in the center, it appears shifted toward the edge.

The value of an off-center strike error largely depends on the extent of the misalignment. For example, a 40% off-center strike will generally be more appealing and therefore more valuable than a 20% off-center strike.

In 2019, an eBay collector paid $150 for an 1868 Shield Nickel graded Extra Fine (XF) with a 15% off-center strike error.

4. 1868 Shield Nickel Doubled Die Error

A doubled die error occurs when the die strikes the planchet multiple times at slightly different angles. This results in some doubling on the design elements and the inscriptions, which you’ll mostly notice under magnification.

On 1868 Shield Nickels, doubling is mostly noticeable on the inscriptions, IN GOD WE TRUST, and the date, 1868. On the reverse, doubling may occur on the inscriptions, UNITED STATES OF AMERICA, and the word, CENTS.  The stars on the reverse may also show some doubling.

Generally, the stronger or more visible the doubling, the more valuable the coin might be. In 2010, Heritage Auctions sold an 1868 Shield Nickel graded About Uncirculated (AU58) with an obverse doubled die error for $300.

Also read: 14 Most Valuable Nickel Errors Worth Money

 

Where to Sell Your 1868 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

Is an 1868 Shield Nickel worth collecting?

Yes, an 1868 Shield nickel is worth collecting, especially if you are looking to complete a Shield Nickel collection. Mint State examples are scarce and often command premium prices, making them an excellent addition to any collection.

Are 1868 Shield Nickel rare?

With a mintage of slightly more than 28 million, circulated 1868 nickels are plentiful and accessible to most collectors. However, Mint State examples and gems are rare and attract a premium, although these sought-after specimens are still collectible.

Is an 1868 Shield Nickel a key date?

No. The 1868 nickel had the second-highest mintage in the entire Shield Nickel series and survivors are abundant. As such, the 1868 issue is not considered a key date, although it is a worthwhile addition to any Shield Nickel collection.