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 Replies: 9 / Views: 2,147 |
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Pillar of the Community
United States
4846 Posts |
why did the mint decide to change from the 3 cent silver to the 3 cent nickel?
doesn't it just waste more money for making the dies?
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Valued Member
United States
467 Posts |
I thought I read somewhere that the 3 cent silvers didn't circulate like they should have.
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Pillar of the Community
 United States
4846 Posts |
then how does that explain all of those roughed up 3 cent silvers?
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Moderator
 United States
23522 Posts |
3 Cent Silvers were introduced for a specific purpose - to match the new 3-cent postage rate - and as a result tended to get a lot of handling. Hence, the seriously-worn examples we see today. They were hoarded during the Civil War, along with many other coins. Between hoarding and reduced wartime coin production, it reached the point where merchants had difficulty making change due to the scarcity of coins. Thus, the introduction of fractional currency. The 3CN was the US Mint's reaction, a coin comprised of less-valuable metal. The 3CS was finally discontinued (along with the silver dollar, the Half Dime, and the Two Cent Piece) by the Coinage Act of 1873. |
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Pillar of the Community
Australia
1040 Posts |
You can read about it in the first few pages of the Red Book. Very interesting reading. |
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Pillar of the Community
United States
625 Posts |
Was going to say that latman100. I just read this yesterday in my Red Book. Said that because of the civil war the 3 cent silvers were hoarded so they changed the composition to nickel. Just got my first one the other day as a birthday gift. Not a great example but happy to have a silver one. |
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Pillar of the Community
Australia
1040 Posts |
A nice AU 3 cent silver is on my wish list of US coins. I love the design. |
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Pillar of the Community
United States
1397 Posts |
Quote:A nice AU 3 cent silver is on my wish list of US coins. I love the design. Ditto. I almost bought one a while back. It had very nice detail and was reasonably priced, the drawback was that it had a small hole drilled in it. The guy selling it said that people would do that so they could string them around their neck to hopefully avoid it being taken if they were robbed. Don't know if that is true, but I suppose it makes a good story to tell the novice. I didn't buy it. |
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Pillar of the Community
United States
3294 Posts |
I would guess that they put them on strings so they didn't lose them. Those coins are tiny and would be very easy to lose.
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Valued Member
United States
172 Posts |
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Replies: 9 / Views: 2,147 |
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Posted 08/08/2010 9:14 pm
