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Three Cent Silver Research Paper

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The three-cent silver was struck by the Mint of the United States for circulation from 1851 to 1872, and as a proof coin for collectors in 1873. A reduction of postage rates to three cents prompted Congress in 1851 to authorize the coin. At the time, profiteers were exporting and melting U.S. silver coins for their metal to trade for increasing amounts of gold in the wake of the California Gold Rush. The three-cent silver thwarted this scheme, as the first American coin with metal valued significantly less than its face value, and the first silver coin not usable as legal tender in unlimited amounts. Designed by the Mint's Chief Engraver, James B. Longacre, the coin saw heavy use until Congress protected other silver coins from profiteers in
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