1873 Proof

The proof Shield nickel survived the Coinage Act of 1873 while the silver half dime did not. Congress signed the act into law on February 12, ending production of the silver half dime, the three-cent silver, and the silver dollar in a single legislative stroke. The Shield nickel was untouched, and its survival had immediate commercial consequences: with the half dime formally retired, the copper-nickel five-cent piece would now handle all small-change commerce in that range without silver competition. Philadelphia struck approximately 1,100 proofs during 1873 across the Closed 3 and Open 3 date varieties, with the Open 3 accounting for the majority.

Most known 1873 proofs are the Open 3 version, struck after the Mint corrected the date punch partway through the year to resolve the visual ambiguity between the 3 and the 8 on the original punch. The Closed 3 proof is significantly scarcer and is collected as a separate variety by specialists building complete 1873 variety sets. Date collectors pursuing an annual proof Shield nickel set typically settle for the Open 3 alone because the Closed 3 premium is substantial and the underlying design difference is subtle.

Surviving populations are adequate for collector demand, with PR63 through PR66 examples available through major auction houses. Cameo contrast is available on coins struck from fresh dies, and Deep Cameo pieces command meaningful premiums when they appear. The 1873 proof is a routine acquisition in the proof sub-series, though specialists pursuing variety completeness face the additional challenge of finding both Closed 3 and Open 3 versions as separate pieces.