The Legacy of Three Cent Nickels (1865-1889): A Unique Chapter in American Coinage

Three Cent Nickels (1865-1889)

The Three Cent Nickel was in circulation from 1865, when the U. S. Mint placed it on the market, until 1889. The mint was also issuing a three-cent small silver coin during the years 1865–1873. As the series was issued by the mint for a period of 25 years, it has several types that may fall under the category of rare pieces. Thus, occasionally, dated coins can sell for more than three times the basic premium for a particular date.

The Three Cent Nickel was never widely used as a circulating currency piece. Due to this reason, it is possible that most of these coins are available in mint or near-mint condition, thereby raising the possibility of them being valuable.

Three Cent Nickels – What Dealers Pay

The year of issue of these coins thus determines the general value of the particular coin. Take, for instance, the Three Cent Nickel of 1865 in good condition; it is worth around $11. An 1880 three-cent nickel may cost over $230 if it is in an uncirculated state.

A professional numismatist will give you a report on your Three Cent Nickel if you get it graded and this will give you a good idea of its value. The analysis of the coin is very rigorous, and the existence of any defects on the coin will be captured and used in arriving at the particular grade for the coin.

Also Read: Top 10 Buffalo Nickels Every Collector Should Own

Three Cent Nickel Value is Conditional

Depending on the grading service you select or if you attempt to grade it on your own, there are some basic steps you can follow to get an approximate estimate of the grade of your coin and, hence, its market price. There is one easy solution for such cases, for example, if one looks at the edge of the coin. A perfectly preserved silver coin will give the impression that the rim has been rubbed away and it may be that there is no rim around the edge at all.

It is clear that a well-preserved specimen of a coin will have a strong rim to the piece and evidence of good surface detail. It is also possible to look at other aspects of the artwork, for instance, the hair of Lady Liberty. As is seen in this example, a coin still retaining a lot of detail and with easily felt hair will be in very good physical condition. A good condition of the coin, however, brings in the fact that hair might just be worn down and some part of the hair could be seen to be scratched over the surface.

Very slight flaws are permissible and to be assigned a grade of extremely fine, the coin should have no more than one minor blemish. This, of course, has the implications that all the information contained in the coin, both textual and iconographic, has to be virtually ‘unmarked’, and that the surface of the coin is perfectly intact and free from any form of abrasion.

Coin Grading Can Provide Peace of Mind

If you have the Three Cent Nickel that was minted in a highly sought-after year or if the coin has an appearance of extremely high quality, it would not be a bad idea to submit the coin to a reputable third party such as the PCGS or NGC for grading. These professionals who specialize in coins can give your coin a detailed run-through, looking for any flaws in addition to ascertaining if the piece is made of the right material.

The small cost that you pay for the grading of the coin might just be worth it to ensure that you are aware of the market price for the coins. Graded coins are usually more expensive compared to non-graded coins, so the cost you are likely to incur when grading your coins can be recovered many times.

Three Cent Nickel Values – The Rarer Editions

The Three Cent Nickel was produced only for a period of twenty-five years. Of course, while two dozen of these mint years may be fairly easily found in circulation, thirteen of them may be significantly less so, which might make them more interesting to dealers and collectors alike. The common dates may be worth from $11 in circulated condition to $75 or more in mint condition. If you were lucky enough to find a nickel of a collectable mint date, then you might find that your nickel is being sold for as much as $30 at the very least. In general, depending on the condition of the mint, these collectable editions can easily fetch hundreds of dollars.

Three Cent Nickel Values Are Always Changing

It is important to realize that what your three-cent nickel represents may have a different value in different years. As with most coins, there are several that gain in value as they grow older, but this gain could be really minute. The general trend of inflation could take place for these coins because they are not as popular as other types of coins and any appreciation that may occur can take time. Having said that, however, one can hardly expect coins from the desired mint years to go up substantially in value over the period of time as if they were kept in absolutely perfect condition—that is, extremely fine or uncirculated specimens.

While all Market Update newsletters are submitted with the best intentions and with accuracy as the paramount consideration, they are delivered from a third-party perspective and do not necessarily represent the position of JM Bullion Inc. and should not be.

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