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The 1868 Shield Nickel is an intriguing and important piece of American numismatic history, reflecting the evolution of U.S. coinage during the latter half of the 19th century. The Shield Nickel series, which began in 1866, was introduced to replace the outdated Liberty Head designs and address the issues faced by the earlier copper-nickel coins. The 1868 issue, produced in the fourth year of this series, represents a continuation of the design changes and production practices implemented by the U.S. Mint to improve coinage efficiency and durability.
The design of the 1868 Shield Nickel is a continuation of the iconic Shield Nickel series design, which was characterized by its bold and functional aesthetic. On the obverse, the coin features a large shield with vertical stripes, which symbolizes the strength and protection of the United States. This shield is surrounded by thirteen stars, each representing one of the original thirteen colonies that formed the Union. The inscription "E PLURIBUS UNUM" appears above the shield, underscoring the unity of the country. Unlike the earlier "Rays" variety, the 1868 Shield Nickel does not include the rays radiating from behind the shield. This design adjustment was made to simplify the coin and reduce production costs, reflecting the Mint's ongoing efforts to streamline the coinage process.
The reverse of the 1868 Shield Nickel features a laurel wreath encircling the denomination "5 C," indicating the coin’s value of five cents. This design element emphasizes the coin's practical use as a low-denomination piece of currency. The wreath is a traditional symbol of victory and honor, aligning with the coin’s role in representing American values and achievements. The inscription "UNITED STATES OF AMERICA" appears around the wreath, while the word "NICKEL" is located beneath it. This layout reinforces the coin’s purpose and helps to clearly identify its value and composition.
The 1868 Shield Nickel was minted at the Philadelphia Mint, which was the primary facility for producing U.S. coins during this period. The total mintage for this year was approximately 6,700,000 coins. While this mintage was relatively high compared to some other issues, the widespread use and circulation of the coin have impacted its availability in higher grades today. The large production numbers reflect the coin’s role in everyday transactions and its importance in meeting the demand for low-denomination currency during the late 19th century.
In Very Good (VG) condition, the 1868 Shield Nickel shows clear signs of wear, but many of the coin’s features remain identifiable. The details on the coin, such as the shield and stars on the obverse, are noticeably worn, with the high points of the design being flattened. However, the overall shape and primary design elements are still discernible. The inscriptions, including "E PLURIBUS UNUM" and "UNITED STATES OF AMERICA," are present but may be partially worn or less distinct due to the coin's circulation history. The surface of the coin exhibits moderate wear, which is consistent with its age and use during the late 19th century.
Collectors value the 1868 Shield Nickel for its role in the development of American coinage and its representation of the broader historical narrative of U.S. numismatics. The coin serves as a tangible link to the era of change and transition in American currency, reflecting both the aesthetic and practical considerations of the time. The 1868 Shield Nickel provides valuable insights into the Mint’s design choices and production methods, making it an important piece for collectors and historians alike.