The United States Mint produced the Silver Three Cent Piece, commonly referred to as the “trime,” from 1851 to 1873. Struck for circulation from 1851 to 1872 and then as a proof coin in 1873, the three-cent silver was the first American coin to have a face value significantly higher than its metal value. Initially composed of .750 silver and .250 copper from 1851 to 1853, the coin’s composition was later changed to .900 silver to keep it in circulation. These tiny coins, often referred to as “fish scales,” are the smallest silver coins ever produced by the U.S. Mint.
By early 1849, the Eastern US saw circulation dominated by small coins of the Spanish colonial real, such as the "levy" (one real) worth around 12 cents and the "fip" (half real) worth around 6 cents. These coins were preferred due to their silver content, unlike the large copper “cents” which were not accepted as legal tender. In the Western US, these Spanish pieces were used equivalently to silver dimes and half dimes despite their higher silver content.
In 1850, New York Senator Daniel S. Dickinson proposed legislation for a three-cent piece made of .750 fine silver to replace the Spanish silver. This initiative aimed to provide a convenient and legally recognized small denomination coin for everyday transactions.
Pattern coins were first struck by the Philadelphia Mint in 1849 as officials experimented with three-cent silvers. A conflict arose between Mint Chief Coiner Franklin Peale and Chief Engraver James B. Longacre, each preparing their designs. Peale's design, based on Christian Gobrecht’s Liberty cap, was ultimately rejected by Acting Treasury Secretary William L. Hodge in favor of Longacre’s design, in accordance with the Mint Act of 1837.
While art historian Cornelius Vermeule considered the silver three-cent piece one of the ugliest U.S. coins, he acknowledged its delicate workmanship. Longacre's original design for the reverse, known as “Type 1,” was altered in 1854 when the coin's fineness was increased. The “Type 2” and “Type 3” designs featured the same obverse, but differed on the reverse, where an olive sprig was added above and a bundle of three arrows beneath the Roman numeral III, representing peace and war, respectively.
The Type 1 design, produced from 1851 to 1853, featured a simple six-pointed star on the obverse without any additional outlines, with a shield at the center. This design was distinct and easily recognizable, with the coin’s denomination encircled by a “C” representing “cents” on the reverse.. Congress mandated that this design be unique from the gold dollar and other silver coins.
The Type 2 design, minted from 1854 to 1858, introduced three outlines around the star on the obverse. This change aimed to make the coin more visually appealing and to signify the increase in silver content. The reverse remained similar to the Type 1, with the olive branch and arrows added to the design..
Three-cent silver coin images sourced from: Heritage Auctions
The Type 3 design, produced from 1859 to 1873, featured two outlines around the star on the obverse. This design adjustment was made to enhance the coin's aesthetic and durability. The reverse continued to display the Type 2 imagery.
The value of a Silver Three Cent Piece starts at around $20 and can go up to $600, depending on its condition and year of mintage. Certain rare varieties may fetch over $700 due to their low mintages.
1851 O Silver Three Cent - Type 1 This coin is highly sought after as it is the only 3-Cent silver piece minted outside Philadelphia.
1855 Silver Three Cent - Type 2 Value: Between $40 and $1,230 for G to MS condition, and around $5,700 for PR
1865 Silver Three Cent - Type 3 Value: Between $371 and $1,230, depending on condition
Silver Three Cent Pieces are intriguing and desirable coins for collectors due to their unique history and relatively low mintages. To accurately determine the worth of your coin, it is advisable to seek assistance from a numismatic professional like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Company (NGC). At Bullion Hunters, we provide expert advice and a wide selection of collectible silver coins. Visit our website or contact us to explore our inventory and enhance your collection.