5 Cents 'Shield Nickel' without rays

The rays between the stars on the reverse were dropped after 1867 — not for aesthetic reasons, but because they created striking difficulties and excessive die wear. The Philadelphia Mint had already struggled with the with-rays version through the entirety of its single production year, and the simplified design proved far more practical at volume. Both varieties were produced simultaneously during 1867, making that year the only overlap.

The Shield Nickel itself was a wartime legacy: the five-cent piece had previously been a silver coin, but silver hoarding during the Civil War had driven small denominations out of circulation entirely, forcing Congress to authorize a base-metal replacement in 1866.