The 1866 Three-Cent Nickel is a unique piece of U.S. coinage history, offering a glimpse into post-Civil War America. Produced by the U.S. Mint in Philadelphia, this small-denomination coin was essential for everyday trade during its time. Despite its seemingly modest role, the coin has become a sought-after collectible due to its rarity in high-grade conditions. In this article, we’ll explore its history, notable specimens, and key details that make the 1866 Three-Cent Nickel a favorite among coin collectors.
The History of the 1866 Three-Cent Nickel
The United States Mint struck 4,801,000 Three-Cent Nickel coins in 1866, which was a significant decrease from earlier years. The coin was designed by James Barton Longacre and is considered a “type coin,” representing the typical design used throughout the series. Although a fair number of these coins still exist, pristine “Mint State” or “Gem” examples are quite rare.
The design features Lady Liberty on the obverse, wearing a coronet, while the reverse shows a large Roman numeral “III” surrounded by a laurel wreath. Late die states of this coin often display unique die cracks on the reverse and a raised mound near the first Roman numeral due to die deterioration. These distinctive marks make certain specimens more appealing to collectors.
Market Value and Noteworthy Specimens
The value of an 1866 Three-Cent Nickel largely depends on its condition, and high-grade examples can command significant prices at auctions. Here are some noteworthy sales and details:
- NGC MS68: A coin from the “Western Hills Collection” sold for $11,270 in 2005, showing streaky toning and a distinctive die crack on the reverse.
- PCGS MS67+ CAC: This coin has been sold at several auctions, with prices ranging from $4,560 to $14,400, depending on the auction and condition at the time of sale.
- NGC MS68: Sold for $6,900 in 1999, this coin is notable for its pristine condition and late die state features, including die cracks and a distorted reverse die image.
Coin Specifications Table
Here is a detailed look at the specifications for the 1866 Three-Cent Nickel:
| Specification | Details |
|---|---|
| Country | United States of America |
| Year of Issue | 1866 |
| Denomination | Three Cents (USD) |
| Mintmark | None (Philadelphia Mint) |
| Mintage | 4,801,000 |
| Alloy Composition | 75% Copper, 25% Nickel |
| Weight | 1.94 grams |
| Diameter | 17.90 mm |
| Edge | Plain |
| Obverse Designer | James Barton Longacre |
| Reverse Designer | James Barton Longacre |
| Quality | Business Strike |
Conclusion
The 1866 Three-Cent Nickel may seem like a small coin, but its historical significance and rarity in high-grade conditions make it a valuable asset for any coin collection. Whether you’re interested in its unique die cracks, its place in U.S. monetary history, or its potential market value, this coin continues to intrigue both beginner and experienced collectors. As auction prices for top-grade specimens have shown, this coin’s worth can vary greatly, but it remains a prized piece of American numismatic history.
FAQ’s
Why is the 1866 Three-Cent Nickel valuable to collectors?
The 1866 Three-Cent Nickel is valuable due to its rarity in high-grade conditions and unique die features, such as cracks and raised mounds caused by die wear. These characteristics, along with its historical significance, make it highly sought after by collectors.
How much can a high-grade 1866 Three-Cent Nickel sell for?
High-grade examples, especially in MS67 and MS68 conditions, can sell for thousands of dollars at auction. Prices have ranged from $6,900 to over $14,000, depending on the coin’s condition and rarity.
What are the unique features of the 1866 Three-Cent Nickel?
In late die states, the 1866 Three-Cent Nickel often shows die cracks on the reverse and a raised area near the Roman numeral “III.” These imperfections make certain specimens more collectible and valuable.