Glad you posted this. I recently helped a friend with an inherited collection that had quite a few pieces that were mini mercs, buffalo's and the like. No question they are a curio piece. The pieces I looked at were quite detailed given their small size. Looking forward to hearing what the scoop is behind these.
It's pretty simple, they are novelty coins, miniature coins that are made by private companies. You can usually buy entire sets of them for a dollar or two.
I have a few complete type sets of these. They were put out by the Franklin Mint and are of very high quality. Amazing details for their size, and they are struck in Sterling Silver, Bronze, or Guilt-silver. I especially like the complete set of commemorative coins from 1892-1954. Fun pieces and inexpensive. Best if you can find them still in the shrink-wrapped cards with information papers.
Agree with @TheFinn that Franklin mint made these. I have a couple individual ones and a few carded examples of various mini U.S. coins. Many of the coins are silver or silver gilded with gold for the gold coins.
These are much different than the mini coins that came out during the Nixon/Ford/Carter administrations with the rise of inflation and devaluing of our money.
