[The following excerpt is published courtesy of DLRC Press and its author, Gloria Peters & Cynthia Mohon. This information was originally published in 1995 in The Complete Guide to Shield and Liberty Head Nickels
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Shield Nickel Design & Hub Changes
Longacre’s Shield design for the five cent piece was powerfully heraldic in its symbolism as it honored the United States of America. The primary components of the design included the shield or escutcheon, the dual arrows, the Pattee cross and the laurel branches with berries. The shield has two primary elements: the paleways and the chief. The chief symbolizes Congress (and the union of the states) and is composed of horizontal lines at the top of the shield. The paleways (or pales) are the vertical stripes below the chief. On the shield nickel design were thirteen pales (representing the original thirteen colonies) which are a solid construction supporting the Congress (or the United States of America). In heraldry, designs represent different colors. Horizontal lines represent azure (blue), the solid vertical stripes gules (red), and the unlined areas argent (white).
The symbolism of the shield nickel may be construed as follows: The shield is a strong defensive weapon indicating strength and passive self-protection through the agency of unity. It denies aggression but symbolizes readiness. The crossed arrows behind the shield again illustrate non-aggression but a clear commitment to protection of ideals. The laurel leaves (branches) symbolize victory. The origin of the laurel symbolism dates back to Greek mythology where the nymph Daphne escaped Apollo when she was transformed into a laurel tree. The grieving Apollo, the beloved patron god of poets and athletes, transferred his love to the tree. The association of Apollo’s affection for the laurel tree provides us in modern times with the apex of competitive honors: “Nobel laureate,” “poet laureate,” “to the victor goes the laurels” — all terms of honor for a winner! The laurel wreath or branch was adopted by the Europeans and, subsequently, the colonists.
Cresting the shield is a cross (pattee) and the style was chosen because it blended well with the baroque trim of curlicues or curlarms. A Pattee differs from a Maltese cross in that the outer edges are flat. The southern upright of the Pattee ends in a circular design referred to as an annulet. At the bottom of the shield, acting as a balance for the cross is a ball. Flanking the shield are branches of laurel leaves with berries on stems. The number of leaves in each cluster differs slightly depending on the hub design. Typically the number is 3- 4-4-3 on both sides. At the bottom of the shield and partially blocked from view are two arrows crossed with arrowheads to the south of the coin, with the fletches of each arrow north. Radially encircling is the motto IN GOD WE TRUST at the top and the date at the bottom between the ball of the shield and the edge. The coin is bordered with denticles, but has a plain edge.
The reverse with rays (1866 -1867) has a large numeral 5 encircled by 13 six pointed stars (with raised detail) each of which is cushioned from its neighboring star by a short burst of 3 rays (also in a set of 13). The legend extends radially about the rays and stars being separated from the word CENTS by two dots. The reverse border is also denticled. The hub for the second reverse is identical to the first reverse except the rays were removed. In so doing, the star below the F in OF apparently received one single blunted tip, which became a diagnostic.
SHIELD—OBVERSE HUBS
Three hubs have been identified and can be spotted quickly by the following ID points:
Type I: Notched Arrowhead This hub can be identified by looking at the base of the left arrowhead and 
focusing on the upper point. It appears as if the arrowhead were punched into the die twice creating the look of a notch in the tip. This obverse hub is found on: all 1866-1868; all 1869 narrow dates; 1/2 of the 1869 wide dates and on one of the 1870 dates.*
Type II: Sliced Arrowhead This hub can be identified by looking at the base of the left arrowhead and 
focusing on the upper point of the base. It will look as if the arrowhead were sliced off sharply from the edge to the back, removing the top tip of the base cleanly. This obverse hub can be found on: 1/2 of the 1869 wide dates; all of 1870 except 1*; all of 1871 and 1/2 of 1872. *Fletcher reported that one of the 1870 may have Type I obverse; most are Type 2.
Type III: Intact Arrowhead This hub can be identified by looking at the base of the left arrowhead and 
focusing on the upper point of the base. It will appear to have an intact point, although somewhat rounded on some coins. It will not have a notch and will not be sliced diagonally. This obverse hub can be found on: 1/2 of 1872 and all 1873-1883.
SHIELD—REVERSE HUBS
There have been four reverse master hubs identified to date in the Shield nickel series. They can be identified easily by the following ID points:
Type A : Rays This first reverse has rays interspersed between the 13 stars. It is found on all 1866 and all 1867 With Rays.
Type B: Blunt Ray On Star-No Rays Between Stars The second reverse has one star which is located immediately below the F in OF with a blunted (or diagonally sliced) ray on the six pointed star. This reverse can be found on: all 1867 NR, some 1868, all 1869 narrow dates, and some 1869 wide dates. Also called the Reverse of ’67.
Type C: Star to S Serif The ray of the star below the second S in STATES points to the serif of the S. This hub has only been found on 1868 and only about half of the 1868’s have this reverse. Also called the Reverse of ’68.
Type D: Doubled Denticles The denticles on this reverse have been doubled. Another diagnostic (in case the die is old and the denticles are smoothed) is that the first S in STATES is doubled along the left side. This reverse hub is found on some 1868; some 1869 wide dates and all 1870 – 1883. Also called the Reverse of ’70.