Post your 3 Cents please

Discussion in 'US Coins Forum' started by SensibleSal66, Dec 3, 2020.

  1. SensibleSal66

    SensibleSal66 Well-Known Member

    Celebrating my 3,000th post ! I love 3 Cents . please post away . Here's mine : 1856 3C-obv-tile.jpg
     
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  3. ldhair

    ldhair Clean Supporter

  4. alurid

    alurid Well-Known Member

  5. paddyman98

    paddyman98 Let me burst your bubble! Supporter

    Congrats on 3000
    a (3).jpg aa (1) (1).jpg
     
  6. Penna_Boy

    Penna_Boy Just a nobody from the past

    I have an 1862 in AU 50.......................
     

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  7. SensibleSal66

    SensibleSal66 Well-Known Member

    That's Ok . I have a good Imaginary Mind .
     
  8. Penna_Boy

    Penna_Boy Just a nobody from the past

    Found it, sorry bout that.
     
  9. Mainebill

    Mainebill Wild Bill

  10. Mainebill

    Mainebill Wild Bill

  11. Mainebill

    Mainebill Wild Bill

  12. AmishJedi

    AmishJedi Well-Known Member

  13. goossen

    goossen Senior Member

    Mine is in the mail, ask me again in a couple of weeks.
     
  14. Inspector43

    Inspector43 72 Year Collector Supporter

    I will dig mine up.
     
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  15. Inspector43

    Inspector43 72 Year Collector Supporter

  16. The Eidolon

    The Eidolon Well-Known Member

    Sorry, when I edited this it somehow turned into a double post. Please see post below instead.
     

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    Last edited: Dec 3, 2020
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  17. The Eidolon

    The Eidolon Well-Known Member

    Congrats on 3000 posts! I think it took me 2 years to hit 600. So I'll be there in another 10 years or so, if I'm lucky. Here are 3x3 cents.
    Top: Type I, 0.750 Ag, 1853
    Middle: Type II, 0.900 Ag, 1857
    Bottom: Copper-Nickel, 1867
    Type I, 0.750 fine 3-Cent, 1853.jpeg
    Type II, 0.900 fine 3-Cent, 1857.jpeg
    Copper-Nickel 3-Cent, 1867.jpeg
    The 3 cent piece was an important step on the road to fiat money. Before that, the US was on a bimetallic system, with both gold and silver coins close to full bodied. The Gold Rush lowered the price of gold relative to silver, and pushed silver coinage out of circulation. The 3-cent piece was only 0.750 fine silver at first, and had a metal content well below face value: 0.60 oz ASW = 20 g of silver per dollar face. The larger silver coinage still had about 24 g of silver per dollar face. So this was some of the first silver "token" coinage issued by the US. It led the way toward the switch to a gold standard after the Civil War, with silver coinage no longer full bodied.

    Token silver coinage with reduced metal content solved one of the chronic problems of bimetallism--in that which ever type of coinage, gold or silver, had relatively more metal value at the moment tended to be hoarded and not circulate. But this required building public trust to accept money which not worth as much by metal as the face value claimed, which was a gradual process. There were many missteps along the way!
     
    Last edited: Dec 3, 2020
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  18. jgrinz

    jgrinz Senior Member

  19. AmishJedi

    AmishJedi Well-Known Member

    So, that's what a Cameo 1883 looks like - my God, what a nice looking coin. And I thought my PF66 was nice looking. :wideyed:
     
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  20. Publius2

    Publius2 Well-Known Member

  21. goossen

    goossen Senior Member

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