1867 5C Rays JD-1, Original PR64 PCGS
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1867 5C Rays, JD-1, R.6, PR64 PCGS. CAC. The 1867 Rays Shield nickel proof is the great rarity of the series, and one whose mintage and survivorship has only recently been explored in-depth. Current knowledge on the coin stems from extensive research by Bernus Turner, which John Dannreuther presents at length in United States Proof Coins, Volume II: Nickel. Dannreuther provides an estimated mintage of 60 pieces, comprising originals from 1867 and later restrikes that employed the same Rays reverse. That reverse was paired with four obverse dies over its usage, and the die state of the common reverse provides concrete emission sequence evidence for the varieties. Coins designated JD-1 are originals, while JD-2, -3, and -4 are restrikes. Dannreuther suggests 23 to 25 examples of JD-1 are known, representing just less than half of the total 1867 Rays proof survivorship. Turner divides the surviving JD-1 population into its two striking periods, differentiated by the state of the obverse die. The "Group 1" batch likely had only five coins produced, after which the obverse die was used for the 1867 No Rays Pattern Reverse coinage. Subsequently, it was remarried to the With Rays proof reverse for Turner's "Group 2" coinage, which comprised the remaining 18 to 20 coins of the known survivorship. The present coin is from the "Group 2" JD-1 originals. The obverse die was used to strike all of the JD-1 1867 Rays "Group 1" proofs, the 1867 No Rays Pattern Reverse proofs, the JD-1 1867 Rays "Group 2" proofs, and finally all of the more common 1867 No Rays proofs -- in that order. The obverse die was then apparently retired. The reverse die was used to strike the JD-1 Rays original proofs and all three of the JD-2, JD-3, and JD-4 restrikes. This Choice, CAC-endorsed JD-1 original With Rays proof displays impressive sharpness throughout the design elements, with ample reflectivity in the fields that complements the most delicate of light champagne hues. ...
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