3376

1866 Nickel 3C PCGS PF66 DCAM

Currency:USD Category:Coins & Paper Money / US Coins Start Price:3,000.00 USD Estimated At:6,000.00 - 9,000.00 USD
1866 Nickel 3C PCGS PF66 DCAM
A lightly frosted Gem with brilliant reflective surfaces and a powerful strike. Sharp-edged devices and lettering include all of the wreath leaves as well as the vertical stripes in the Roman numeral III. Pop: 6/0 (8/05).

Chief Engraver James B. Longacre was assigned the task of developing the new three-cent piece, and he wasted little time in doing so once congress passed the authorizing legislation in 1865. Liberty's profile was taken from an unadopted cent design of 1857; it also had been used on a quarter eagle pattern of 1860. Longacre was partial to this head of Liberty and persuaded Mint Director Pollock to support it as well. The final decision was made by Treasury Secretary Hugh McCulloch and the president.

The new coin was an instant hit with the citizenry, and circulation mintage was relatively large during the rest of 1865 and well into 1866; during 1867 and 1868 there still was a substantial coinage, but after that the public lost interest and striking declined. Proofs in these early years were consistent at just below 1,000 pieces, with now and then a pop above. The major reason for the later lack of interest in this denomination was the introduction of another new coin: the shield five-cent piece or "nickel" in 1866. Although the coinage of three cent pieces was reasonably heavy, production fell off dramatically in later years, although Proof production increased three-fold with new collectors. (#93762)