The SilverTowne Vault Blog

100 Greatest U.S. Coins Series: 1867 Proof With Rays Shield Nickel

Published 05/19/2026

An issue that was denied by the chief coiner to strike somehow has made its way onto the 100 Greatest United States Coins. In its fourth edition, author Jeff Garrett helps us to understand how the existence of the coin happened, why it was denied in the first place, and where it stands today in the hobby of numismatics.

#89 – 1867 Proof “With Rays” Shield Nickel

When asked to strike Proofs of the 1867 With Rays Shield Nickel, A.L. Snowden rejected the idea as the striking of the rays proved to be difficult. Despite this dismissal, there is a certified population of about 80 or so. So, how did this happen? It’s as simple as someone decided to do it anyway, which created a rarity that landed itself on this list.

Back in the 1860s, the silver half dimes were serving as the five-cent denomination. However, with the Civil War ongoing and the hoarding of coinage, the Treasury had to end up issuing small five-cent notes which we recognize now as Fractional Currency. However, that became an issue as the quantities printed and circulated did not match the Treasury’s ability to redeem them in gold and...read more