The Shield Nickel (the first nickel five-cent piece minted in the United States) was designed by James B. Longacre in accordance with the Act of 16th of May, 1866. These Shield Nickels were minted only in 1866 and 1867.

The metallurgical difficulties were the source of many minting errors in the Shield Nickel coin. It is unusual to find a piece that does not have die cracks, and such examples trade for more in uncirculated condition, unlike many other coins where die cracks are considered an interesting variety with slight to moderate premium value. There are also many overdates, doubled dates and other punch errors.