Historic Three Cent Nickels

Front and back of 1865 three cent nickel in circulated condition.1865 Three Cent Nickel in Circulated Condition

In 1850, a dollar was a lot of money. Many urban workers made only about a dollar for a day’s work; a farm worker, half that. Unprepared food was priced in pennies per pound and you could buy a simple cooked meal for 5¢ or less. But the half-cent and one-cent coins in circulation at the time were large and inconvenient to carry in any quantity, so in 1851, inspired by a change in postal rates, a 3-cent coin was approved by Congress.

Fish Scale “Trime” Silver Coins

From the beginnings of production in the U.S., coins were made of metals that had an equivalent bullion value to their denomination. Three cents worth of copper would have resulted in a coin that was too large and heavy, so the three-cent piece was initially struck in 75% silver for its first two years, increasing to 90% in 1854. Because of its relatively low bullion value, the 3-cent silver coin is the smallest U.S. coin ever made, barely half an inch in diameter and 1/16th inch thick. This led to the coins’ nickname: fish scales. They were also known as “trimes.”

Coin Production Decreases as Civil War Rages

With the onset of the Civil War, Americans began hoarding coins as a hedge against economic collapse, and bullion coins virtually disappeared from circulation. Due to demand for silver and gold to finance the war, mintage of 3-cent silver coins and production fell to only a few thousand per year.

Copper Nickel 3-Cent Coins

By war’s end in 1965, Congress authorized production of a new copper-nickel 3-cent coin to get the denomination back into circulation. It was only meant to be a temporary issue, but its popularity, along with considerable urging by nickel magnate Joseph Wharton and his friends in Congress, led it to become the official coin in circulation, with silver 3-cents limited to proof coins and eventually discontinued altogether in 1873. Larger than the tiny silver coin, the 3-cent nickel remained in production until 1889, when its diminished popularity and confusion with the new similar-size silver dime coin brought its run to an end.

Design of the 3-Cent Nickel

Unlike longer-running coins, the 3-cent nickel had no design changes over its life other than a larger date on the 1889 coins. The obverse (face) of the coin features a Liberty Head bust encircled by the inscription “United States of America.” The date sits below the bust, and there are no mint marks since all the coins were made in Philadelphia. The back of the coin has the Roman numeral “III” surrounded by a laurel wreath.

Collecting the 3-Cent Nickel

While the coin itself isn’t particularly rare, the numbers produced in a given year vary considerably, causing some mintages to be much more valuable than others, especially later coins in uncirculated condition.

The Great American Coin Company® is pleased to offer historic 3-Cent Nickel coins to add to your collection. Available in both circulated and cull condition, as well as the historic 1865 three cent nickel in circulated condition, they’re an important part of any portfolio and are an inexpensive way to launch a beginner on a rewarding, life-long interest in coin collecting. They make great novelty gifts that capture an important time in U.S. history, too.

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