Two and Three Cents
Two Cent 1864-1873
Introduction and Historical Context
The Two-Cent Piece was authorized by the Coinage Act of April 22, 1864, and minted from 1864 to 1873. The coin was created during the Civil War when there was a shortage of small change. The public hoarded gold, silver, and even copper coins due to the economic uncertainty, leading to the need for a new coinage that could circulate widely without being hoarded.
Designer
The coin was designed by James Barton Longacre, the Chief Engraver of the United States Mint from 1844 until his death in 1869. Longacre was a prolific designer whose works include the Indian Head cent and the Liberty Head designs on the various gold coins of the era. The Two-Cent Piece is particularly notable for being the first U.S. coin to bear the motto "In God We Trust."
Design Characteristics
Obverse: The obverse of the Two-Cent Piece features a shield, symbolizing strength and defense, with a laurel branch on the right and an olive branch on the left. The shield design is very similar to the one later used on the Shield Nickel. Above the shield is the national motto "In God We Trust," marking the first time this phrase appeared on U.S. coinage.
Reverse: The reverse of the coin bears a simple wreath surrounding the denomination "2 CENTS." The design is austere yet effective, focusing on the denomination without extraneous embellishments.
Interesting Historical Facts
First Appearance of "In God We Trust": The Two-Cent Piece is the first U.S. coin to carry the motto "In God We Trust." The adoption of this motto was influenced by the religious sentiment prevalent during the Civil War, with many Americans feeling that the nation needed to express its reliance on divine protection.
Short-Lived Series: The Two-Cent Piece was minted for only ten years, from 1864 to 1873. By the early 1870s, the coin's usefulness was overshadowed by other denominations, and the Mint Act of 1873 officially ended its production. The short series makes it a fascinating and manageable set for collectors.
Mintages and Circulation: The highest mintage occurred in the first year, 1864, with over 19 million coins struck. Subsequent years saw significantly lower mintages, reflecting the declining popularity and utility of the denomination.
Key Dates and Rare Varieties
1864 Small Motto: The most famous variety of the Two-Cent Piece is the 1864 "Small Motto" variety. In the early part of the first year of production, the motto "In God We Trust" was rendered in a smaller font. This was quickly changed to a larger motto, making the "Small Motto" variety much rarer and highly sought after by collectors. The small motto has distinctively smaller and more closely spaced letters, especially noticeable in the "D" of "God."
1867 Double Die Obverse: This variety features a noticeable doubling of the obverse elements, particularly in the motto and the shield. It’s one of the most famous and valuable error varieties in the series.
1872 Key Date: The 1872 Two-Cent Piece is the key date of the series, with a mintage of only 65,000. Few were saved in uncirculated condition, making high-grade examples particularly rare and valuable. The scarcity of the 1872 issue is due to the declining demand for the denomination, as its usefulness in commerce waned.
Proof Issues: Proof Two-Cent Pieces were struck each year from 1864 to 1873, with mintages typically ranging from 500 to 1,100 coins. The 1873 proof, however, is extremely rare because it was produced only as a proof, with no circulation strikes made in that year.
Three Cent Silver 1851-1873
Introduction and Historical Context
The Three-Cent Silver Coin was first authorized by the Act of March 3, 1851, during a period of monetary reform and innovation. The impetus for creating this coin came from a combination of factors, including the need for small denomination coinage and the desire to facilitate the purchase of postage stamps, which cost three cents at the time. The introduction of the Trime was part of a broader effort to provide small change during a time when Spanish and Mexican fractional coins were still widely circulated in the United States.
Designer
The Three-Cent Silver Coin was designed by James Barton Longacre, the same Chief Engraver of the U.S. Mint responsible for designing the Two-Cent Piece and other significant coins of the era. Longacre's design for the Trime was both functional and symbolic, reflecting the economic conditions and national sentiments of the time.
Design Characteristics
Obverse: The obverse features a six-pointed star with the national shield in the center. Around the star, the inscription "United States of America" encircles the design, along with the date at the bottom. The star was a bold, simple symbol that made the coin immediately recognizable.
Reverse: The reverse design varies slightly over the years but consistently features a large Roman numeral "III" (representing the denomination) encircled by an ornate "C" (for cents) and surrounded by an olive branch. The reverse design underwent modifications throughout its production, leading to the different types known to collectors.
Interesting Historical Facts
Smallest U.S. Silver Coin: The Three-Cent Silver Coin is the smallest silver coin ever produced by the United States, both in terms of physical size and weight. It has a diameter of just 14 mm and weighs only 0.8 grams, making it easy to lose and sometimes challenging to handle.
Minting Periods and Types: The Trime was minted from 1851 to 1873, during which time it saw three distinct design variations, known as Type I, Type II, and Type III. These types correspond to different periods of production and slight changes in the coin's design, particularly on the reverse.
Type I (1851-1853): The initial design, struck in 75% silver and 25% copper, was intended to make the coin difficult to counterfeit and more resilient to wear. This alloy also ensured that the coins were worth slightly less than their face value, discouraging hoarding.
Type II (1854-1858): The composition was changed to 90% silver in 1854 to restore the coin's intrinsic value. The obverse design was slightly modified by adding extra lines around the star, and the reverse featured a more detailed wreath.
Type III (1859-1873): Further modifications were made to the obverse design, removing the extra outlines around the star, and the reverse was simplified again. This final type was produced until the series ended in 1873.
Role in Postal Reform: The Three-Cent Silver Coin played a key role in facilitating the prepayment of postage. The 1851 reduction of postal rates to three cents created the need for a coin of that value, and the Trime was introduced to meet this demand, making it a direct product of postal reform.
Key Dates and Rare Varieties
1851-O: The 1851-O is the only Three-Cent Silver Coin struck at the New Orleans Mint, making it a significant and sought-after issue. It has a relatively low mintage of 720,000, making it scarce compared to the Philadelphia issues of the same year.
1852/1 Overdate: This overdate variety is a well-known and highly desirable coin among collectors. It features a noticeable overstrike of the numeral "2" over "1" in the date. This variety is particularly sought after in higher grades.
1855 Type II: The 1855 Three-Cent Silver Coin is a key date within the Type II series. It had a lower mintage and is difficult to find in higher grades, particularly in uncirculated condition.
1868 and 1872: Both of these dates are significant for their rarity. The 1868 Trime had a mintage of only 3,500, and the 1872 had a mintage of just 1,000, making them among the rarest issues of the series. They are highly coveted by advanced collectors.
Proof Issues: Proof Three-Cent Silver Coins were struck in limited numbers each year, especially during the later years of the series. Proofs from the 1860s and early 1870s, particularly those with mintages under 1,000, are extremely rare and command premium prices.
Three Cent Nickel 1865-1889
Introduction and Historical Context
The Three-Cent Nickel Coin was authorized by Congress on March 3, 1865, during the final months of the Civil War. Its creation was largely driven by the need to replace the Three-Cent Silver Coin, which was becoming impractical due to the widespread hoarding of silver coins. The nickel version was designed to be a practical alternative that would circulate more freely.
This coin also emerged in a period when the U.S. government was experimenting with different metal compositions for coinage. The decision to produce a nickel coin was influenced by the success of the nickel alloy used in the Indian Head cent introduced in 1859.
Designer
The Three-Cent Nickel was designed by James Barton Longacre, the same Chief Engraver of the U.S. Mint responsible for designing the Three-Cent Silver Coin and other significant pieces of U.S. coinage. Longacre's design for the Three-Cent Nickel was functional, simple, and in keeping with the utilitarian needs of the time.
Design Characteristics
Obverse: The obverse of the Three-Cent Nickel features a portrait of Liberty facing left, wearing a coronet (sometimes referred to as a diadem) inscribed with the word "LIBERTY." The inscription "UNITED STATES OF AMERICA" encircles the design, with the date at the bottom. This Liberty Head design is closely related to Longacre's work on other denominations of the period, particularly the Indian Head cent.
Reverse: The reverse of the coin bears a large Roman numeral "III" (indicating the denomination) encircled by a wreath of laurel. The design is clean and straightforward, focusing on the denomination without extraneous decoration.
Interesting Historical Facts
Copper-Nickel Alloy: The Three-Cent Nickel Coin was composed of 75% copper and 25% nickel, making it one of the earliest U.S. coins to prominently feature nickel in its composition. This alloy was chosen for its durability and resistance to wear, as well as to avoid the hoarding issues that plagued silver coins during and after the Civil War.
No Mintmarks: All Three-Cent Nickel Coins were struck at the Philadelphia Mint, and none bear a mintmark. This simplifies collecting in some ways but also means that collectors focus on other aspects such as date, condition, and varieties.
Role in Monetary Reform: The Three-Cent Nickel Coin played an important role in the broader monetary reforms of the post-Civil War era. It was introduced alongside other nickel coins, such as the Shield Nickel, as part of a strategy to stabilize the U.S. currency system and replace fractional currency notes, which were unpopular and prone to counterfeiting.
Production Decline and Cessation: The coin was minted from 1865 to 1889. By the mid-1880s, the demand for the denomination had significantly declined due to the rising popularity of the Five-Cent Nickel, or "Nickel," which made the Three-Cent Nickel redundant. The series officially ended in 1889, with the final mintage being relatively small.
Key Dates and Rare Varieties
1865: The first year of issue is often considered a key date by collectors, not because it is rare but because it marks the beginning of the series. This year had a relatively high mintage of over 11 million coins, making it readily available in most grades.
1877: The 1877 Three-Cent Nickel is one of the key dates in the series. It had a mintage of only 510 coins, all struck in proof. No business strikes were produced this year, making it a critical and rare coin for collectors who seek to complete the series.
1881: Another important year is 1881, where only 3,575 coins were struck, all in proof. Like the 1877 issue, no business strikes were produced, making this another rare and valuable coin.
1884 and 1885: Both of these years are also significant because the coins were produced in limited numbers. In 1884, only 1,700 proofs were struck, and in 1885, only 1,000 proofs were minted, making these some of the rarest coins in the series.
Proof Issues: Proof Three-Cent Nickels were struck every year from 1865 to 1889, with mintages generally ranging from 500 to 4,000 coins. The later years, particularly from 1879 to 1889, are more challenging to find and are highly prized by collectors.