Welcome back as we continue our series on numismatics, a comprehensive introduction to coin collecting.
The two cent coin and the three cent coin are obscure pieces of U.S. currency history. Both were short-lived denominations minted for just a brief period in the mid-19th century. These unusual coins filled specific needs at the time they were introduced. But they were also quickly superseded by other denominations and metals.
Let’s take a more in-depth look at the background, history, and unique characteristics of these often overlooked coins. Understanding their origins and context gives insight into the changing commerce and technologies that shaped American coinage.
Two Cent Pieces: Filling a Need During the Civil War
The two cent piece was first minted in 1864, as the country was mired in the Civil War. The federal government had been dealing with coin shortages in many denominations, including the one cent piece and smaller half dime and half cent.
A two cent coin could enable the efficiency of using coins over paper money in smaller transactions. But there was another pressing reason the government wanted the two cents introduced—to reduce the use of postage stamps as money. The two cent denomination allowed the public to conveniently pay the two cent postage rate, reducing strain on the postal service.
The new coin’s composition was set at 95% copper and 5% tin and zinc. This gave it a distinct bronze appearance, leading to the nicknames “bronze cent” and “dirty cent.” The coin is significantly larger than a cent, weighing in at 96 grains compared to the copper-nickel cent at 72 grains.
Two major obverse (heads) design varieties exist. The small motto “In God We Trust” appears directly above the date in 1864. A larger motto was used for the remainder of the series, from 1865 to 1873. The reverse (tails) depicts a simple wreath.
Nearly 47 million two cent pieces were minted in 1864, the first year of issue. But the need for the denomination quickly declined, with output dropping dramatically after the first several years. The last proofs were struck in 1872, but coinage ended definitively in 1873.
Three Cent Nickels and Silvers: Unusual Denominations
The three cent coin originated even earlier than the two cent, first appearing in 1851. The goal was to produce a small coin that could be used to purchase a single one-ounce postage stamp, which was recently reduced in price from five cents to three.
The early three cent pieces from 1851 to 1853 were minted in silver. But the tiny size made them easy to lose and hard to strike. Their .750 fine silver composition also meant the intrinsic value exceeded face value, leading to widespread hoarding and melting.
So beginning in 1865, the metal was changed to a copper-nickel alloy like the popular new cent pieces. Nickel three cent coins are unique in American coinage, bearing the Roman numeral III rather than a standard number 3 denomination.
The obverse of three cent coins features an American flag crossed with a caduceus symbol. Lady Liberty appears in a coronet on later date nickels. The reverse displays the Roman III within a laurel wreath.
Three cent pieces were minted steadily from 1865 through the 1870s. But production had slowed to a trickle by the 1880s. The last business strikes rolled off the presses in 1889, ending the series.
Affordable Antiques from Bygone Days
While short-lived as regular issue U.S. coinage, two cent and three cent pieces offer an intriguing affordable window into the needs that shaped 19th century money. They illustrate how the government responded with new coins and compositions to address shortages while improving commerce.
For modern collectors, these obsolete “oddball” denominations are popular conversation pieces with unique designs. Lower mintages make some dates surprisingly challenging to acquire in higher grades.
If you’re interested in adding some of these uncommon coins to your collection, visit our unique collection for sale here. We specialize in rare coins and numismatics, with a wide selection of two cent pieces, three cent nickels, and other historic U.S. coins. Browse our inventory today!
CV Coins & Collectables has a wide collection of coins for the beginner collector. If you are looking to get started and have any questions, please contact us at (619) 427-9154 or through our contact page and we’ll be happy to help you get started with your coin collection.
Check out the other parts in this series:
- Part 1: An Intro to Collecting Coins and Other Currency
- Part 2: Half Cents and Large Cents
- Part 3: Proof and Mint Sets & Commemoratives
- Part 4: Indian and Lincoln Cents
- Part 5: The Forgotten Coins: A Look at Two Cent and Three Cent Pie
- Part 6: Silver Eagles and Commemoratives