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The 3 Cent Nickel: A Forgotten Coin of the Civil War Era

The 3 cent nickel, also known as the three-cent piece or the trime, is one of the most obscure and short-lived coins in the history of the United States. It was minted from 1865 to 1889, and it was the first U.S. coin to be made of copper-nickel alloy. But why was it created, and what makes it so rare and interesting? Let’s find out!

The Origins of the 3 Cent Nickel

The 3 cent nickel was born out of a crisis that affected the U.S. economy and society during the Civil War. Due to the uncertainty and instability caused by the war, people hoarded gold and silver coins, creating a severe shortage of small change in circulation. To remedy this situation, the U.S. government issued paper currency and fractional currency notes, which were small paper bills in denominations as low as 3 cents. However, these paper notes were unpopular, as they were easily damaged, counterfeited, and inflated. Moreover, they did not match the decimal system of coinage, which was based on multiples of 5 cents.

In 1864, the U.S. Mint introduced two new coins to replace the fractional currency notes: the bronze cent and the two-cent piece. These coins were made of a cheaper and more abundant metal than silver, and they circulated widely and successfully. This inspired the idea of creating a three-cent coin in the same metal, to provide a convenient coin for paying postage, which had been reduced from 5 cents to 3 cents in 1851. The advocates of this idea were led by Joseph Wharton, a Pennsylvania industrialist who owned the largest nickel mine in the country and wanted to promote the use of nickel in coinage. Wharton lobbied Congress to pass a bill for a three-cent coin in copper-nickel alloy, which was approved on the last day of the congressional session, March 3, 1865, and signed by President Abraham Lincoln.

The Evolution of the 3 Cent Nickel

The 3 cent nickel was designed by James B. Longacre, the chief engraver of the U.S. Mint, and featured a portrait of Liberty on the obverse and a wreath surrounding a Roman numeral III on the reverse. The coin was made of 75% copper and 25% nickel, the same ratio used in today’s five-cent nickels. This composition has remained the same for all nickels with the exception of the silver alloy war nickels (from 1942-1945), regardless of denomination or series. The coin had a weight of 1.94 grams and a diameter of 17.9 millimeters, and it had a plain edge.

The 3 cent nickel was initially well received by the public, as it was more durable and convenient than the paper notes and the silver three-cent piece, which was still in production until 1873. The 3 cent nickel also had a higher silver value than its face value, which made it legal tender for unlimited amounts, unlike the silver three-cent piece, which was limited to $5. The 3 cent nickel reached its peak mintage in 1865, with over 11 million pieces struck. However, its popularity declined after 1866, when the U.S. Mint introduced the five-cent nickel, also known as the shield nickel, which was a larger and more attractive coin, and which matched the decimal system better than the 3 cent nickel. The five-cent nickel soon replaced the 3 cent nickel in circulation, and the demand for the latter coin dropped significantly. After 1870, most years saw very low mintages for the 3 cent nickel, and some years, such as 1877 and 1878, saw no circulation strikes at all, only proof coins for collectors. The 3 cent nickel was finally discontinued by the Coinage Act of 1890, which also abolished several other denominations, such as the half dime and the two-cent piece. The last 3 cent nickels were struck in 1889, and many of them were melted down to make more five-cent nickels.

The Legacy of the 3 Cent Nickel

The 3 cent nickel is a remarkable coin, as it reflects the economic and social changes that occurred in the U.S. during the Civil War era. It is also a rare and valuable coin, as it has a low mintage and a high survival rate. The coin’s value depends on several factors, such as the year, the condition, and the demand. The most common dates are 1865, 1866, and 1868 and the scarcest dates are 1877 and 1878, which were only minted as proof coins The coin has no mint marks, as all of them were struck at the Philadelphia Mint.

The 3 Cent Silver Coin: A Tiny Piece of History

The 3 cent silver coin, also known as the trime or the fish scale, is one of the most unusual and fascinating coins in the history of the United States. It was minted from 1851 to 1873, and it was the smallest and lightest silver coin ever produced by the U.S. Mint. But why was it created, and what makes it so special? Let’s find out!

The Origins of the 3 Cent Silver Coin

The 3 cent silver coin was born out of a combination of factors that affected the U.S. economy and society in the mid-19th century. One of them was the California Gold Rush, which flooded the market with gold and increased its value relative to silver. This made silver coins more attractive for export and melting, creating a shortage of small change in circulation. Another factor was the reduction of postage rates from 5 cents to 3 cents in 1851, which created a demand for a convenient coin to pay for mail. Congress responded by authorizing a new coin of 3 cents denomination, made of 75% silver and 25% copper, with a weight of 0.8 grams and a diameter of 14 millimeters. The coin was designed by James B. Longacre, the chief engraver of the U.S. Mint, and featured a shield on the obverse and a Roman numeral III on the reverse.

The Evolution of the 3 Cent Silver Coin

The 3 cent silver coin was initially well received by the public, as it filled a gap in the coinage system and circulated widely. However, it also faced some challenges and criticisms. Some people complained that the coin was too small and thin, and that it could be easily lost or damaged. Others pointed out that the coin’s silver content was significantly lower than its face value, making it the first U.S. coin to be non-legal tender for unlimited amounts. In 1853, Congress passed an act that reduced the weight and size of all silver coins, except for the silver dollar, to discourage their export and melting. The 3 cent silver coin was also affected by this act, and its composition was changed to 90% silver and 10% copper, with a weight of 0.75 grams and a thickness of 0.8 millimeters. The design was also slightly modified, with the addition of two outlines around the star on the obverse and the Roman numeral on the reverse.

The 3 cent silver coin continued to circulate until the outbreak of the Civil War, which caused a massive hoarding of gold and silver coins. To alleviate the coin shortage, the U.S. government issued paper currency and fractional currency notes, which were widely used as substitutes for coins. In 1865, a new 3 cent coin was introduced, made of copper-nickel and featuring a portrait of Liberty on the obverse and a wreath on the reverse. This coin, known as the 3 cent nickel, was more durable and popular than the 3 cent silver, and gradually replaced it in circulation. The 3 cent silver coin was minted in very low quantities for its last decade, until it was abolished by the Coinage Act of 1873, along with several other denominations.

The Legacy of the 3 Cent Silver Coin

The 3 cent silver coin is a remarkable piece of history, as it reflects the economic and social changes that occurred in the U.S. during the mid-19th century. It is also a rare and valuable coin, as it has a low mintage and a high survival rate. The coin’s value depends on several factors, such as the year, the mint mark, the condition, and the demand. The most common dates are 1851, 1852, and 1853, which can be easily be found in good condition. The scarcest date is 1873, which was only minted as a proof coin. The only branch mint that produced the 3 cent silver coin was New Orleans, which struck 720,000 pieces in 1851 and added an O mint mark to the right of the Roman numeral. This coin is highly sought after by collectors.