Bill Jones' Two and Three Cent Pieces
3C SILVER, TYPE 1 (1851-1853)

Owner Comments:

The Silver Three Cent Piece was the lightest coin that The United States Government has ever placed in circulation. The government introduced it at time when there was a shortage of coins circulating in the U.S. because of the gold strikes in California. The flow of gold that came from the “golden state” upset the price ratio between U.S. gold and silver coinage. As a result every U.S. silver coin that was then in circulation had a melt value that exceeded its face value. This resulted in extensive hoarding and melting of the U.S. silver coinage. The Silver Three Cent Piece was the first U.S. coin that the government openly admitted was a token coinage. The piece contained less than three cents’ worth of metal, and the government made no pretenses about that issue.

In its early years the Silver Three Cent coin was quite popular and was used extensively. It also provided a convenient way to purchase the new three cent postage stamps that had been recently introduced. Postage system reforms, such as lower rates and the requirement that the sender, not the receiver of mail, pay the postage went a long way toward drawing the nation together.

The 1852 Silver Three Cent Piece that is displayed above is a very choice example. The strike is above average, and the preservation is superb. The coin has attractive coloring, which is unusual for this issue. Unlike the other U.S. silver coins of the period, which were made of 90% silver and 10% copper, these pieces contained 75% silver and 25% copper. As a result many examples of this coin have unattractive toning.