Three-cent nickel
The copper-nickel three-cent piece was struck by the US Mint from 1865 to 1889. It was initially popular, but its place in commerce was supplanted by the five-cent nickel. The issue is not widely collected, and prices for rare dates remain low by the standards of American collectible coinage.
About Three-cent nickel in brief
The copper-nickel three-cent piece was struck by the US Mint from 1865 to 1889. It was initially popular, but its place in commerce was supplanted by the five-cent nickel. The issue is not widely collected, and prices for rare dates remain low by the standards of American collectible coinage. The copper large cent did not circulate in the Pacific Coast region or South due to prejudice against coins that did not contain precious metal. The last were struck in 1889; many were melted down to coin more five- cent pieces. The U.S. shifted to a paper money-based economy with little disruption. The low-value paper currency, whether issued by government or business, were called shinplasters by the public, which disliked them. The coinage was only circulating when the public put it aside as the only federal coinage made by the Mint, Neil Carothers theorized that they were put aside by the federal public as the public was only interested in the metal at a time when the metal was hoarded, despite the fact that their value remained less than one cent each time they were struck. The coins were almost unobtainable in the public at the time, despite that fact that they remained less valuable than the metallic value of their metal, despite their hoarded value, and despite the public’s desire to keep them in circulation as long as they were legal tender, he says. The public was forced to keep the coins in circulation when they were sold in about 4% lots, when sold in 1862 and 1863, and when they came to command a premium of about 4%.
The coin was then circulating from 1864 to 1864, when it came to be struck in about 5% lots and sold in Philadelphia for about $1,000. The price of silver rose to the point where coins of that metal vanished from circulation, many exported to Canada, where they were both acceptable in circulation, and could be exchanged for gold. On the Pacific coast, where paper money was not favored, gold continued to circulate, not until late 1864 was the only means of making change not until the cent was circulating. The silver three- cent piece, and even the copper-Nickel cent commanding a premium, was removed from circulation in 1864 and 1865. The cent was replaced by a smaller version made of 88% copper and 12% nickel in 1857, and it was then struck in 1866. The large cent was then replaced by the 5-cent cent, which was also struck in1866, and was then circulated from 1866 to 1869, and then in 1879. The 5- cent nickel was a larger, more convenient coin, with a value of five cents better fitting the decimal system. The 3-cent coin was struck in 1870 and 1879, and in 1890 Congress abolished it, and the last mintages for the three-Cent nickel were struck, and many were melt down to be used for 5- cents pieces.
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This page is based on the article Three-cent nickel published in Wikipedia (as of Nov. 06, 2020) and was automatically summarized using artificial intelligence.
