Coin collection - How to round up the Three-Cent Nickel ?
In 1865, a new three-cent piece made of copper and nickel (75 percent and 25 percent, respectively, but they're called three-cent nickels because they look more like nickel than they do copper) burst onto the scene. However, the United States had been making a three-cent piece out of silver since 1851 (see Chapter 11). The problem with the old three-cent piece was that the coin was so tiny it was easy to lose (even back then, three cents' worth of silver was only a small amount). By using copper and nickel, the coins could be made larger and for less money. Three-cent nickels were made from 1865 to 1889.
Three-cent nickels come in only one type, they were made over a period of slightly over 20 years, and all the dates are within the means of most collectors. Add the curiosity factor of the odd denomination, and you have a winning collection.
By type:
- Difficulty rating: Extremely easy. Three-cent nickels were minted with only one design type.
- Cost estimate: Inexpensive. Figure from $20 for a Fine example up to $125 for a nice Uncirculated piece.
By date:
- Difficulty rating: Easy. No super rarities in the series — the only challenge comes from the proof-only 1877, 1878, and 1886.
- Cost estimate: A complete set of three-cent nickels in Very Fine condition runs approximately $6,000, while a set in Uncirculated and proof condition starts at $8,500 and goes up from there.
By die variety:
- Difficulty rating: Easy to difficult. This series has only three major die varieties. Like the 1873 two-cent piece, the 1873 three-cent nickel comes with the number 3 open and closed. The 1887 coin boasts an overdate, where traces of a 6 can be seen underneath the 7 of the date. Researchers have uncovered lots of minor die varieties, but you'll need to have your eyes checked before you get into this area of minute differences.
- Cost estimate: Inexpensive to moderately expensive. The 1873 die varieties are common and inexpensive, but the 1887/6 die variety runs $350 to $1,000, depending on condition.
Questions and Answers
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