USA: interesting facts about coins

Until 1857, the United States issued a half-cent coin...

N#24585 

In the United States, in 1942-45, due to the high demand for nickel (which was used in the military industry), the use of this strategic metal in the minting of five-cent coins was discontinued, and it was replaced with 350-karat silver. This significantly increased the cost of producing five-cent coins, but nickel was too valuable a resource to be discarded. After the war, the situation returned to normal, and nickel was replaced with silver.

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N#45 

In 1943, zinc-plated steel one-cent coins were minted in the United States. In 1944, unused blanks were used to produce Belgian two-franc coins that circulated in the kingdom's territory liberated from the Germans.

 N#3173 

N#3103 

In the first half of 1883, new five-cent coins were introduced in the United States, which only displayed the denomination and lacked the word "cents." Taking advantage of the illiteracy of a significant portion of the population, enterprising fraudsters covered the coins with gold plating and presented them as gold five-dollar coins. To combat these frauds, the financial authorities decided to add the word "cents" to the coins, which they did. Starting in the second half of 1883, five-cent coins were issued with the appropriate inscription.

N#18294 

N#3683 

In the first half of the 19th century, the exchange rate between the Prussian thaler and the US dollar was 69 cents per thaler.

N#47415 

Five-cent U.S. coins are almost officially referred to as "nickels." The term originated in 1866, when the first copper-nickel coin of this value was issued (prior to that, silver half-dime coins were minted, equivalent to 5 cents).

N#14852 

In the United States, there is a National Cent Day (a one-cent coin) that is celebrated annually on April 1.

N#982 

In 1865-1889, nickel three-cent coins were minted in the United States. There were several reasons for their creation. In fact, the denomination was not unique, as silver trimes had been circulating in the United States since 1851, initially in the 750-grade and later in the 900-grade. However, they were not particularly popular due to their small size (the coins of 1851-53 weighed 0.8 grams, and from 1854, they weighed 0.75 grams). They were easily lost, which caused discontent among the population. The second reason for introducing a larger coin was the name of Joseph Wharton, a nickel magnate who controlled almost all of the nickel mining industry. Mr. Wharton hoped to profit from the sale of nickel to the federal government, and he actively lobbied for the introduction of the nickel three-cent coin.

The third reason was that the cost of mailing a letter was 3 cents (of course, the further away the recipient was, the more expensive it was to deliver the letter, but the standard postage fee for mailing a letter over a short distance was 3 cents, so the coin was a hit). However, it was the postal service that ultimately led to the demise of the three-cent coin. By 1889, the cost of mailing a letter had dropped to 2 cents, eliminating the need for the three-cent coin. In addition, the 3-cent piece resembled a dime in size, which often caused confusion among the illiterate population. This was also the reason for the discontinuation of these attractive coins.

N#5336 

In the 1990s, an enterprising American pulled off an extremely profitable, but not illegal, scam. A large food company announced a promotion, under which a person who provided 10 barcodes from the packaging of this company's products received 500 miles of free air travel on any US airlines at the expense of this company. A cunning American discovered that a manufacturer of processed foods sold chocolate puddings for 25 cents, and that the packages were marked with barcodes. Over the course of a week, he bought up all of the cheap puddings and exchanged the barcodes for 1,280,000 miles of air travel...

N#54 

It is estimated that US one-cent coins circulate for an average of 40 years before becoming unusable. Coins with higher denominations wear out faster, with an average lifespan of around 30 years. This is due to their increased usage in everyday transactions.

N#42 

The obverse of the US silver dime features an olive branch, a torch, and an oak branch. The first symbolizes peace, the second symbolizes freedom, and the third symbolizes strength and independence.

N#53 

The five-cent "Buffalo" coin features Iron Tail (1842-1916), a chief of the Oglala Lakota tribe. He was a friend of the famous Buffalo Bill and performed in his shows during his European tours, which earned him fame and made him a model for the sculptor James Earl Fraser, who designed the famous coin.

N#1109 

By the early 2000s, due to inflation in the United States, the value of the metal contained in coins began to significantly exceed their face value (particularly for copper-nickel five-cent coins), leading to the illegal practice of hoarding and melting them down for subsequent sale of the resulting metal. To prevent such actions that reduced the availability of circulating coins, the United States Mint established penalties for coin melting on December 14, 2006. From now on, such actions are subject to a fine of $10,000 and up to 5 years in prison (or without imprisonment). However, there is an exception to this rule: for educational, research, or other non-profit purposes, the melting of a small number of coins is still allowed.

N#44 

In the United States, collecting defective coins is a very popular area of numismatics. Instead of destroying damaged coins, mints sell them at a significantly higher price than their face value.

In 1930, the Peruvian sol had a fixed exchange rate of 40 cents per sol against the US dollar.

N#4639 

Between 1906 and 1939, the Brazilian real was devalued 9 times against the US dollar, from 2,500 (1906) to 22,500 (1939) reais per dollar.

N#14153 

The production of a modern U.S. one-cent coin costs the mints 2.1 cents. This is unprofitable, but the issue is lobbied by zinc producers (the coin is based on a zinc blank), who make large profits by supplying the metal to the mints.

N#7580 

From 1881 to 1959, the Cuban peso was pegged to the US dollar at a 1:1 ratio.

N#9263 

It is estimated that there are currently at least $10 billion worth of coins in real circulation in the United States (we are talking specifically about really circulating coins.

N#4455 

The U.S. dime, known as the "Mercury dime," has an interesting history. The statue of the Winged Liberty, which is part of the "Monument to the Soldiers and Sailors of the Union" (referring to the United States during the Civil War of 1861-1865), was used as a prototype. The statue was created by the sculptor Adolph Alexander Weinman. The prototype of the Winged Liberty was Elsie Kachel Moll Stevens, the wife of lawyer Wallace Stevens, who was a friend of Weinman and lived in Weinman's apartment in New York for a while. When Elsie Stevens posed for the sculptor, she wore an old stocking over her head as the Phrygian cap.

N#51 

In the early 1890s, the first slot machines appeared in the United States, which used a combination of three playing cards (in fact, they were inserted into the machine). When the desired combination, for example, a pair (the principle of playing poker was used), the winner was given a glass of whiskey or a cigar. The cost of one game (one press on the lever that drives the deck of cards ) was 5 cents.

N#4411 

When designing the famous "Peace" dollar, sculptor Anthony de Francisci used his own wife, Teresa Cafarelli de Francisci, as a model. Anthony, along with seven other sculptors, participated in a competition to design a new dollar coin and won the prize of $1,500 (the other contestants received consolation prizes of $100 each).

N#5580 

The appearance of Franklin Delano Roosevelt's profile on a dime in 1946 was far from accidental. Of course, first of all, it was a tribute to the outstanding president, who had already passed away. But the choice of denomination had a clear logical rationale. The fact is that Roosevelt suffered from polio and was confined to a wheelchair. He personally initiated a fundraising campaign to help people suffering from this disease, as well as to develop methods of its treatment. This campaign was called "March of dimes". Therefore, the choice of this denomination for placing Roosevelt's portrait was quite understandable.

N#52 

In 1926, the United States issued a fifty-cent coin commemorating the “Sesquicentennial of American Independence ”. The coin featured images of Presidents Washington and Coolidge (1923-1929). This was the first time a current president was depicted on a U.S. coin.

N#37692 

According to the Act of April 10, 1806, the "Spanish dollar" (a silver Spanish colonial coin worth 8 reais) was officially recognized as a legal tender in the United States, and it was accepted for tax purposes. By 1830, Spanish coins accounted for up to 25% of the total cash circulation in the United States. This practice continued until 1857, when the Coinage Act was passed, recognizing the U.S. dollar as the sole legal tender.

N#3767 [1818 JJ] 

It has been established that when garden slugs come into contact with modern U.S. one-cent coins (made of zinc coated with copper), an electric shock occurs. Therefore, it is strongly recommended that gardeners scatter one-cent coins in the areas where these unpleasant creatures reside. It is believed that this method can help eliminate them (possibly to the neighbor's property, where they can be saved on coins).

N#6731 

The name of the US ten-cent coin, "DIME", comes from the French word "DISME" ("tithe", "tenth"). Americans have a saying: "ten cents for a dozen". This is used to describe something insignificant or unimportant.

N#5830 

In the United States, a 1-dollar coin known as the "Eisenhower Dollar" was issued in 1971. Due to its size (38.1 mm in diameter and 22.68 grams in weight), it was inconvenient and therefore unpopular among the general public. The only place where it was readily accepted was in Nevada casinos, where these coins were used as gaming tokens at face value.

N#1346 

In 2022, the U.S. Mints incurred a combined loss of $72 million due to the cost of minting one-cent coins, which is completely unprofitable.

N#7214 

The eagle depicted on the Morgan Dollar actually existed and even had a name: Peter.

N#1492 

All of these coins are from my collection.🙂

It has been established that zinc US one-cent coins issued after 1982 pose a significant risk to dogs and parrots. When a dog ingests a coin, exposure to gastric juices can lead to severe hemolytic anemia, while parrots may even die.

N#7579 

On the obverse of the 1964 U.S. half-dollar coin (Kennedy type), there are the initials of Gilroy Roberts (GR) at the base of the bust (on the neck). In the first days after the coin's release, the Denver Mint received numerous complaints about the "image of a hammer and sickle on the coin," which was how the public mistakenly interpreted the designer's initials.

N#943 

Large silver US dollars have slang names among Americans: "Ferris wheel" and "cart wheel".

N#20286 

In the 19th century, silver and nickel three-cent coins were minted in the United States. Silver coins were primarily circulated in the western states and territories, while nickel coins were more popular in the eastern regions. This was due to the fact that the population of the western states had a negative perception of coins made from base metals, while the eastern regions were less conservative in this regard.

N#1129 

In 1993, the West Point and San Francisco Mints issued a commemorative fifty-cent coin dedicated to the fourth President of the United States, James Madison (1809-1817), who authored the Bill of Rights that laid the foundation for the U.S. Constitution. The coin was designed by engravers Thomas James Ferrell (obverse, featuring a portrait of the President) and Dean McMullen (reverse). The coin was made of 900-grade silver, weighed 12.5 grams, and had a diameter of 30.6 mm. Most of the coins were minted in San Francisco (586,315 pieces in proof grade), while a smaller number (193,364 pieces in unc grade) were minted in West Point. An interesting fact: the American Numismatic Association later placed the initials of the Madison Foundation and special serial numbers on the edge of 9656 coins, making them interesting artifacts.

N#21202 

As is known, the author of the design of the famous "Wheat" cent with the profile of Abraham Lincoln, the minting of which was started in 1909, is the American designer Victor David Brenner. Less known is that he is never a Native American, never a Brenner, and not even a Victor. At birth, the master was named Avigdor ben Gershon, and he was born in Šiauliai in 1871. He was a subject of the Russian Empire until 1890, when he emigrated to the United States.

N#908 

The bald eagle, which has long been a symbol of the United States and appears on the country's coins, did not immediately gain its status. One of the "Founding Fathers," Benjamin Franklin, disliked the eagle, considering it a "cheating bird." This was due to the eagle's habit of stealing fish from other birds. The fishermen also disliked the eagle, as it competed with them by not only stealing their catch but also actively hunting salmon, a valuable and expensive fish. Despite this, the bald eagle was officially recognized as the national bird of the United States in 1782 and has remained so ever since.

N#1493 

In 1979, the United States introduced a coin that would become, if not the most, then one of the most unpopular coins in the country. This was the "Susan B. Anthony" dollar, designed by Frank Gasparro, the chief engraver of the United States Mint from 1965 to 1981. The reverse side of the coin featured a rare image of a female feminist, Susan B. Anthony, who was one of the founding mothers of the feminist movement in the United States. But the unpopularity of this dollar was not due to the odiousness of the lady depicted on it, unpleasant in all respects, but in the tactical and technical characteristics of the coin, which weighed only 8.1 grams and had a diameter of 26.5 mm, which brought it closer to the standards of a twenty-five-cent coin, with which it was often confused, especially by people with poor eyesight. It even received the nickname "Carter's quarter", since it was minted during the presidency of Jimmy Carter.

The second complaint was the lack of a logical connection between the obverse and the reverse. It was rightly pointed out that borrowing the theme of the moon landing from the famous "Eisenhower" dollar was illogical, since Susan B. Anthony lived in a different era and had nothing to do with space exploration. According to surveys, 66% of Americans did not like the design of the "Susan B. Anthony" dollar. It got to the point where the coin was refused by many retail chains. In 1981, the last issue was minted, after which the coin was discontinued. The remaining 520 million coins were left in storage until better times. However, in 1984, these coins found an unexpected use when they were used as tokens for passing through turnstiles in the Baltimore Metro.

The coin's second life began in the early 1990s, when vending machines that accepted it were introduced in the United States. As a result, a significant portion of the minted coins was put into circulation. Finally, in 1999, an additional issue of just over 41 million coins was released. However, the "Sacagawea" dollar type was soon introduced, and the Susan B. Anthony coin was ultimately discontinued.

N#3548 

After 2001, the popularity of fifty-cent coins in the United States quickly waned. There were two reasons for this: firstly, not all payment machines accept them (as a rule, they are designed for smaller diameter coins) and, secondly, given inflation, they no longer represent a significant amount, but they take up a lot of space in your pocket due to their size. As a result, by now, despite the rather significant circulations, fifty-cent coins are quite rare in circulation (they are usually used by elderly people).

N#24510 

It is well known that the US five-cent coin has long been firmly referred to as "nickel" ("nickel") - the name has become almost official. What is less well known is that this jargon has given rise to another jargon among Americans - American criminals call "nickel" a punishment in the form of imprisonment for a period of 5 years.

N#49 

The small silver three-cent U.S. coins, which were minted from 1851 to 1873 and initially weighed 0.8 grams and later 0.75 grams, were nicknamed "fish scales" by Americans.

N#4727 

AND THAT IS ALL.

Uncle Eugene

In the United States, in 1942-45, due to the high demand for nickel (which was used in the military industry), the use of this strategic metal in the minting of five-cent coins was discontinued, and it was replaced with 350-karat silver. This significantly increased the cost of producing five-cent coins, but nickel was too valuable a resource to be discarded. After the war, the situation returned to normal, and nickel was replaced with silver.

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Also the amount of copper was reduced for the war effort, from 3.75g to 2.8g. That doesn't sould like much be it freed up 830,000 kg of copper.

The primary purpose of the military's sudden need for nickel was that it proved to be a superior armour for U.S. tank protection against enemy fire than earlier versions of armour produced for U.S. tanks at the beginning of the war.

Uncle Eugene

In the first half of 1883, new five-cent coins were introduced in the United States, which only displayed the denomination and lacked the word "cents." Taking advantage of the illiteracy of a significant portion of the population, enterprising fraudsters covered the coins with gold plating and presented them as gold five-dollar coins. To combat these frauds, the financial authorities decided to add the word "cents" to the coins, which they did. Starting in the second half of 1883, five-cent coins were issued with the appropriate inscription.

Taking advantage of the illiteracy of a significant portion of the population… If they were illiterate adding the word CENTS wouldn't help. Other than that what you said is true.

… a link the the respective coin page so this thread will be listed on the bottom of them.

All done / 06:57 to 08:18 time. :) 

ZacUK

… a link the the respective coin page so this thread will be listed on the bottom of them.

All done / 06:57 to 08:18 time. :) 

👍🙏

 Thanks  :) 

This thread is very interesting.

Thank you.

Very interesting, thanks for sharing.