1865 Nickel 3-Cent Piece ~~ Grades VF/30+

Coin Highlights:

• Individual coins come in protective packaging.
• Designed by James Longacre.
• Obverse: Depicts the head of Lady Liberty wearing a coronet.
• Reverse: Features the denomination in Roman numerals surrounded by a wreath.
• Sovereign coin backed by the U.S. government.

Ron Guth:

The 1865 Three-Cent Nickel was the first year of a completely new coin type and the first year of a new metal type. The Philadelphia Mint produced more than 11 million examples of this date, a mintage that had not been seen since 1853, when an almost identical amount of Three-Cent Silver pieces were struck. The Three-Cent Nickel eventually replaced the Three-Cent Silver, but both types were made continuously up until 1873, after which the Three-Cent Silver was discontinued.

The 1865 is easily the most common of all the Three-Cent Nickels. PCGS has certified well over 1,000 Mint State examples, with most falling in the MS-63 to MS-64 grade range. Gem examples are slightly scarce but can be found with relative ease. Superb examples are very rare, the finest of which are two PCGS MS-67s. This date is characterized by weak central strikes (look at the lines in the Roman numeral 3 on the reverse) and numerous die cracks.

The three cent denomination had been introduced as a small, thin silver coin in 1851. The primary motivation for the denomination was to facilitate the purchase of postage stamps, which cost three cents at the time. Additionally, it was believed that a small coin of intrinsic value might improve the overall circulation of minor United States coinage. Although the three cent silver coins did circulate, the continued abundance of foreign silver coins prevented their widespread use. Even after foreign silver was banned from circulation in 1857, the economic uncertainty related to the American Civil War would change the landscape once again. During this time, all silver coins were hoarded by the nervous public, including the silver three cent pieces. These circumstances led to the creation of a three cent piece struck in a different composition.