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Week # 28 - Who knows their silver three-cent pieces?

Started by Danielle C.,

10 posts in this topic

  • Member
Danielle C.

Danielle C.

Posted
  • Member
Posted

QUESTION:

 

Why did the mintage of silver three-cent pieces drop so dramatically beginning in 1854?

 

Good Luck!!

 

Our first place winner will receive the 2005 Red Book. We will also give a prize to a randomly selected player.

 

REMINDER: The Numisma-Quest ends/ended on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia Info post for more details.

 

 

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Post Extras:

gmarguli

gmarguli

Posted
Posted

The design change resulted in striking difficulties.

Narmuriel

Narmuriel

Posted
Posted

The price of silver and the fact that type II's were very difficult to produce

topsman

topsman

Posted
Posted

After the shortage of silver was resolved in 1853, the design was slightly modified and the metal content was changed from .750 silver to .900 silver. While this change was suppose to correct earlier problems in the striking of the coins, the changes actually created more problems in the minting process, and made it more difficult to produce the Type 2 coins, then the earlier Type 1 coins.? confused-smiley-013.gif

 

Probably way off, but it sure sounds good! thumbsup2.gif

jtryka

jtryka

Posted
Posted

I will guess it had to do with the devaluation of the dollar which resulted in a lower weight ($1 in 3c silvers had 25 g of 90% silver, while $1 in other subsidiary coins had only 24.88 g of 90% silver), but a greater expense to produce.

ziggy29

ziggy29

Posted
Posted

I guessed last week and got it, so I'll guess again: huge mintages were no longer needed because major silver coinage wasn't being hoarded since the weight on the larger silver coins (with arrows) was reduced in 1853?

  • Member
Danielle C.

Danielle C.

Posted
  • Author
  • Member
Posted

QUESTION:

 

Why did the mintage of silver three-cent pieces drop so dramatically beginning in 1854?

 

ANSWER:

 

Lowering the weights of the other silver coins in 1853 put them back in circulation and reduced the need for three-cent pieces.

 

 

Congratulations Ziggy29!!! You are this weeks numismaquest winner!! Your prize is the 2005 Red Book.

There is no runner up winner this week.

 

Thanks for playing and stop back next week for another question.

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