Miami Valley Coin Club

The Value of My 1853 Three-Cent Silver… Then

The 3-Cent Silver coin, or Trime, was produced beginning in 1851 and minting of these coins continued through the year 1873. The Type I coins, 1851-1853, were coined in the millions of pieces. After 1853 mintage numbers never again attained that kind of volume.

In 1850 the public began hoarding silver coins. With small-value coins needed for commerce, the three-cent silver was born. The Type I coins were only 75% silver and 25% copper, an attempt to discourage melting coins for their silver content. They cost the mint less than 3 cents to produce and are the smallest U.S. coin ever minted. In 1854 the silver content was raised to 90% in an attempt to encourage circulation, but the coin was thinned down to keep it at the same value. My 1853 coin was one of 11.4 million struck that year.

3- Cent Prices in the 1850’s… what could I buy?
Postage stamps had been recently been reduced from 5 cents to 3 cents.
1/3^rdpound of cheese
2 eggs – raw
1/3^rdpound of bacon
½ yd. of calico fabric

I wonder how many times my coin was spent to mail a letter? Apparently it was spent a lot because my coin only grades out as Very Good or Fine.

In the 1850’s a common laborer only made $1.00 per day; that comes to about $0.125 per hour. So on the bright side, someone would give you around 4 trimes for every hour you worked. What a deal!

The 1853, once I added it to my collection, completes my Type I set; an 1851, 1851-O, and an 1852. Now I have an 1853.