Lady called today and said she found an 1880 shield nickel in her mother's jewelry box. She said her great grandfather had been interested in coins. She said it has a rusty color (like many shield nickels). I am supposed to look at it tomorrow. Any thing to look for on possible counterfeit? Also, if genuine, how much does the rusty color affect value? Thanks in advance for any help and opinions.
Photos would help. It says they only made 19,995 1880 shield nickels. GL "With a mintage of just 16,000 circulation strikes, the 1880 Shield 5-cent coin is the key to the series. With a mintage of 3,955 proof strikes, the 1880 Shield 5-cent coin is the second most common proof issue."
I once had a choice AU I paid $400 for and sold for $500. It was as nice a one as I've ever seen and was a business strike, not a proof. Rusty color could just be toning, so it may actually increase the value. Just depends on the look of the coin and the grade as far as what it's worth.
Take a look at pictures of 1868 and 1880 nickels on PCGS CoinFacts. A corroded 1868 can be an evil mimic for an 1880. The date on an 1880 is a bit wider than for 1868. Pictures will help.
An AU business strike 1880 is worth considerably more than that today. A PCGS AU50 sold in January for $5,500. A PR50, on the other hand, is a $300 coin.
Pictures would be invaluable in helping you. Photos of the different shield nickel reverse hubs are available here: http://www.shieldnickels.net/hubs/reverseHubs.html If the coin does not match reverse IIc, it cannot be an 1880. If it does match reverse IIc, that doesn't mean it is an 1880. I have seen very worn 1882 and 1883 offered as 1880. It is common for Chinese counterfeits to have a reverse that approximates reverse IIa. There are only two obverse dies for 1880. The first one has the first 8 attached to the ball above with the some extra metal, the second one has a repunched second 8 visible in the lower bowl. All known coins from the first obverse are now believed to be proofs.
I know. Please stop reminding me. You never know what will be popular in the future. I made a 20% profit in a week. That is great. At around the same time slabbed common date MS65 Morgan dollars were $500 each. Now they're $130 or so.
I should add that the majority of the coins with the second obverse are also proofs. The only recognized business strikes are those with what is known as the "island reverse," a small lump of metal below T (UNITED). Beware that there are some older slabs with proofs masquerading as business strikes.
You shouldn't feel bad. Chances are very high that the coin you sold was an impaired proof (there are a lot of them wrongly be identified as business strikes).
Possibly. It is one of the few coins I regret selling. The others were early So-Called Dollars in Silver - AU to Unc.
There seems to be obverse die markers telling the difference between a circ. strike and a proof. Any pics?
There are no obverse die markers that can reliably distinguish 1880 proof shield nickels from business strikes. There is one reverse die marker that serves to identify business strikes. Currently only coins that exhibit this marker are thought to be business strikes. The marker is a lump below the second T (STATES). It is visible in this photo:
The reverse die with the lump was only used in 1880. An earlier die stage of the same die (without the lump) was also used for 1879. (The earlier die stage without the lump also appears in 1880 on proof strikes.)
Pending the actual photo and follow-up posts on this, just wondering: These types of (potential) discoveries are a part of the life-blood of collecting as I see it. What could be more important or lucrative than uncovering a forgotten stash in an attic or closet of an old house, for example!? I cannot help wondering what else might be out there like this; more likely in the northeast states, I suppose. There was a recent story of a shoe box full of coins that had been under the bed of an elderly lady since the 1930's. But available tales online seem to be mostly about the major well-known hoards. Anybody have any stories to relate of this type? Probably could be a separate thread, of course, if there has not already been one here on CT. Thanks!
ronnie58 - I have both a similar story and relevant to his thread as well. In 1978 when I got married we lived in a condo across from an elderly retired couple. We would chat with them and at one time he gave me a set of 15" tires practically new. After knowing them for 8 months they were ready to pick up and move to Fla so he told me 'my storage cage downstairs is unlocked go get whatever you want before management does'. There was an old cheap desk with its drawers swollen shut from years of basement dwelling. Obviously because of this they never scoured the contents. Crowbar in hand, I made my way in. First in the find - a set of 4 1928 worlds fair international silver plated commemorative spoons. After pushing around many other trinkets I found coins - 1 being a decent 1879 shield nickel - the other an 1880 with that 'island' mentioned above. Still have it - but honestly have struggled on how to reliably place this into someone's hands and trust I will get that same coin back - so to date it is still ungraded. This may be the motivation I need to at least take some good pics and post them. lol.
Please do so. 1880 is the rarest date in the series and 1879 is second rarest. Two things I would offer here.... First off, please do take photos and start your own unique thread. These old threads tend to be ignored. Secondly, I would advise that these two pieces be authenticated. Most any coin dealer is happy to help you accomplish that. And you wouldn’t have to worry about your coins getting back to you. I am looking forward to seeing them.
