Nickel (United States coin)

http://www.all-keyboard.com/,http://www.laptopfan-shop.com/,http://www.laptop-fan-shop.com/ The nickel, in American usage, is a five-cent coin issued by the United States Mint. Composed of 75% copper and 25% nickel, the piece has been struck since 1866. The silver half dime, also equal to five cents, had been issued since the 1790s. Sony VAIO PCG-3B1M Battery The economic upset of the American Civil War drove gold and silver from circulation, and the government at first issued paper currency in place of low-value coins. In 1865, Congress abolished the five-cent fractional currency note after Spencer M. Clark, head of the Currency Bureau (today the Bureau of Engraving and Printing), placed himself on the denomination. Sony VAIO PCG-3C1T Battery As two-cent and three-cent pieces without precious metal content had been successfully introduced, Congress also authorized a five-cent piece of base metal; the Mint began striking this in 1866. The Shield nickel, the initial design, was struck until 1883, when it was replaced by the Liberty Head nickel. Sony VAIO PCG-3D1M Battery As part of a drive to increase the beauty of American coinage, the Buffalo nickel was introduced in 1913; it was followed by theJefferson nickel in 1938. In 2004 and 2005, special designs in honor of the bicentennial of the Lewis and Clark Expedition were issued. Sony VAIO PCG-3G2M Battery The Mint in 2006 reverted to using Jefferson nickel designer Felix Schlag's original reverse (or "tails" side), although substituting a new obverse by Jamie Franki. As of 2013, it costs more than eleven cents to produce a nickel; the Mint is exploring the possibility of bringing down the cost by using less expensive metals. Sony VAIO PCG-5R1M Battery The silver half disme (as the half dime, pronounced the same, was first called) was one of the denominations prescribed by the Mint Act of 1792, its weight and fineness set by law.^[1] The first pieces under federal authority were half dismes, struck in 1792 in the cellar of John Harper, Sony VAIO PCG-7141M Battery saw maker, at Sixth and Cherry Streets in Philadelphia as the first federal mint was still under construction in that city. The dies were engraved by Adam Eckfeldt; he recalled a half-century later that the silver for the half dismes had been supplied by President George Washington, and that the 1,500 coins struck from the bullion were given to Washington's Secretary of State, Sony VAIO PCG-7143M Battery Thomas Jefferson, for distribution to important people both in the US and overseas.^[2][3] By legend, President Washington supplied silverware from his home,Mount Vernon, to provide bullion for the coins.^[4] In his annual message to Congress in late 1792, Washington noted the ongoing construction of a mint building and stated, Sony VAIO PCG-7151M Battery "There has also been a small beginning in the coinage of half dismes, the want of small coins in circulation calling the first attention to them."^[5] In 1793, the newly established United States Mint began striking cents and half cents.^[6] Sony VAIO PCG-7154M Battery Coinage of precious metal pieces was delayed; Congress had required that the assayer and chief coiner each post a security bond of $10,000, a huge sum in 1793. In 1794, Congress lowered the chief coiner's bond to $5,000 and the assayer's to $1,000, and President Washington's appointees to those positions were able to qualify and take office. Silver coinage began that year.^[7] Sony VAIO PCG-7162M Battery The half dime was struck to various designs by Mint Engraver Robert Scot from 1794 until 1805, though none were dated 1798, 1799, or 1804.^[8] By 1804, silver US coins were being heavily exported, as they could be exchanged at par in the West Indies with heavier Spanish coins, which were then imported as bullion and deposited at the Mint for melting and restriking. Sony VAIO PCG-7181M Battery In response, the US stopped striking silver dollars in 1804 and the half dime was not issued from 1805 until 1829. Mint Director Robert Patterson explained, in 1807, in a letter to Jefferson (by then president) that "nearly the whole of our Silver Bullion (chiefly Spanish dollars) come through the Banks, and it is very seldom that they will consent to take any coin less than half dollars."^[9] Sony VAIO PCG-41112M Battery The silver five-cent piece was struck again beginning in 1829; its fineness was increased from .8924 to .900 beginning in 1837. Also in 1837, the half dime's obverse design changed from one by William Kneass depicting a bust of Liberty to one featuring a seated Liberty by Christian Gobrecht; Sony VAIO PCG-7153M Battery the half dime would bear modifications of this design until its abolition in 1873. In 1851, it ceased to be the smallest US silver coin as a three cent piece was issued by the Mint. The half dime, or half disme, was a silver coin, valued at five cents, formerly minted in the United States. Sony VAIO PCG-71312M Battery Some numismatists consider the denomination to be the first coin minted by the United States Mint under the Coinage Act of 1792, with production beginning on or about July 1792. However, others consider the 1792 half disme to be nothing more than a pattern coin, or 'test piece', and this matter continues to be subject to debate. ^[1] [2] Sony VAIO PCG-7144M Battery These coins were much smaller than dimes in diameter and thickness, appearing to be "half dimes". In the 1860s, powerful nickel interests successfully lobbied for the creation of new coins, which would be made of a copper-nickel alloy; production of such coins began in 1865, and were struck in two denominations —three and five cents (the latter introduced in 1866). Sony VAIO PCG-7191L Battery The introduction of the copper-nickel five-cent pieces made the silver coins of the same denomination redundant, and they were discontinued in 1873. The following types of half dimes were produced by the United States Mint or under the authority of the Coinage Act of 1792: Sony VAIO PCG-3C1M Battery The flowing hair half dime was designed by Robert Scot and this same design was also used for half dollar and dollar silver coins minted during the same period. The obverse bears a Liberty portrait similar to that appearing on the 1794 half cent and cent but without the liberty cap and pole. Sony VAIO PCG-3F1M Battery Mintage of the 1794 version was 7,765 while 78,660 of the 1795 version were produced. The obverse of the draped bust half dime was based on a sketch by artist Gilbert Stuart, with the dies engraved by Robert Scot and John Eckstein. The primary 1796 variety bears fifteen stars representing the then number of states in the union. Sony VAIO PCG-3H1M Battery In 1797, fifteen and sixteen star varieties were produced - the sixteenth star representing newly admitted Tennessee - as well as a thirteen star variety after the mint realized that it could not continue to add more stars as additional states joined the union. The reverse bears an open wreath surrounding a small eagle perched on a cloud. Sony VAIO PCG-3J1M Battery 54,757 half dimes of this design were minted. Following a two year hiatus, mintage of half dimes resumed in 1800. The obverse remained essentially the same as the prior version, but the reverse was revised substantially. The eagle on the reverse now had outstretched wings, heraldic style. Sony VAIO PCG-8141M Battery This reverse design first appeared on gold quarter and half eagles and then dimes and dollars in the 1790s. Mintage of the series never surpassed 40,000, with none produced in 1804. No denomination or mintmark appears on the coins; all were minted in Philadelphia. Production of half dimes resumed in 1829 based on a new design by Chief Engraver William Kneass, Sony VAIO PCG-8161M Battery who is believed to have adapted an earlier John Reich design. All coins were minted at Philadelphia and display no mintmark. The high circulating mintage in the series was in 1835, when 2,760,000 were struck, and the low of 871,000 was in 1837. Both Capped Bust and Liberty Seated half dimes were minted in 1837. Sony VAIO PCG-3C2M Battery These were the last silver half dimes produced. The design features Liberty seated on a rock and holding a shield and was first conceived in 1835 used first on the silver dollar patterns of 1836. The series is divided into several subtypes. The first was struck at Philadelphia in 1837 and New Orleans in 1838 and lacks stars on the obverse. Sony VAIO PCG-5N2M Battery In 1838 a semicircle of 13 stars was added around the obverse border, and this basic design was used through 1859. In 1853, small arrows were added to each side of the date to reflect a reduction in weight due to rising silver prices, and the arrows remained in place through 1855. The arrows were dropped in 1856, with the earlier design resumed through 1859. Sony VAIO PCG-5P1M Battery In 1860, the obverse stars were replaced with the inscription UNITED STATES OF AMERICA and the reverse wreath was enlarged. This design stayed in place through the end of the series. In 1978 a unique 1870-S Seated Liberty half dime became known. The Seated Liberty half dime was produced at the Philadelphia, Sony VAIO PCG-5S1M Battery San Francisco and New Orleans mints in an aggregate amount of 84,828,478 coins struck for circulation. In 1978 a coin collector surprised the coin collecting community with an 1870-S (San Francisco) half dime, believed to have been found in a dealer's box of cheap coins at a coin show. Sony VAIO PCG-9Z1M Battery According to mint records for 1870, no half dimes had been minted in San Francisco; yet it was a genuine 1870-S half dime. At an auction later that same year, the 1870-S half dime sold for $425,000. It is believed that another example may exist—along with other denominations minted that year in San Francisco—in the cornerstone of the old San Francisco Mint. Sony VAIO PCG-7171M Battery Later in July, 2004, one sold for $661,250 in MS-63 in a Stack`s-Bowers auction. Canada also once used silver coins of five-cent denomination; they were colloquially referred to as "fish scales" because they were very thin (the term "half dime" never having been used in Canada), and were produced until Canada also switched to nickel five-cent pieces in 1922. Sony VAIO PCG-7186M Battery The Civil War caused most American coins to vanish from circulation, with the gap filled by such means as merchant tokens, encased postage stamps, and United States fractional currency, issued in denominations as low as three cents. Although specie (gold or silver coins) was hoarded or exported, Sony VAIO PCG-81112M Battery the copper-nickel cent, then the only base metal denomination being struck, also vanished.^[12] In 1864, Congress began the process of restoring coins to circulation by abolishing the three-cent note and authorizing bronze cents and two-cent pieces, with low intrinsic values, to be struck.^[13] Sony VAIO PCG-31311M Battery These new coins initially proved popular, though the two-cent piece soon faded from circulation. On March 3, 1865, Congress passed legislation authorizing the Mint to strike three-cent pieces of 75% copper and 25% nickel. In 1864, Congress authorized a third series of fractional currency notes. Sony VAIO PCG-8152M Battery The five-cent note was to bear a depiction of "Clark", but Congress was appalled when the issue came out not with a portrait of William Clark, the explorer, but Spencer M. Clark, head of the Currency Bureau. According to numismatic historian Walter Breen, Congress's "immediate infuriated response was to pass a law retiring the five-cent denomination, Sony VAIO PCG-31111M Battery and another to forbid portrayal of any living person on federal coins or currency."^[14] Clark kept his job only because of the personal intervention of Treasury Secretary Salmon P. Chase.^[14] Mint Director James Pollock had been opposed to striking coins containing nickel, but in view of the initial success of the copper-nickel three-cent piece, Sony VAIO PCG-61111M Battery he became an advocate of striking five-cent pieces in the same metals. In his 1865 report, Pollock wrote, "From this nickel alloy, a coin for the denomination of five cents, and which would be a popular substitute for the five cent note, could easily be made ... [The five-cent coin should be struck in base metal] only until theresumption of specie paymentsSony VAIO PCG-51112M Battery ... in time of peace ... coins of inferior alloy should not be permitted to take the place permanently of silver in the coinage of pieces above the denomination of three cents."^[15] Industrialist Joseph Wharton had a near-monopoly on the mining of nickel in the United States, and sought to promote its use in coinage.^[16] Sony VAIO PCG-51211M Battery He was also highly influential in Congress. His friends there, though they had failed to obtain the metal's use for the two-cent piece, had been more successful with the base-metal three-cent coin.^[17] Pollock prepared a bill authorizing a five-cent coin of the same alloy as the three-cent piece, with a total weight not to exceed 60 grains (3.9 g). Sony VAIO PCG-51212M Battery At the committee stage in the House of Representatives, the weight was amended to 77.19 grains (5.00 g), ostensibly to make the weight equal to five grams in the metric system but more likely so that Wharton could sell more nickel.^[15] This made the new coin heavy, in terms of weight per $.01 of face value, compared to the three-cent copper-nickel coin. Sony VAIO PCG-41111M Battery The bill passed without debate on May 16, 1866.^[15] The new copper-nickel coin was legal tender for up to one dollar, and would be paid out by the Treasury in exchange for coin of the United States, excluding the half cent, cent and two-cent. It was redeemable in lots of $100 for banknotes. Fractional currency in denominations of less than ten cents was withdrawn. Sony VAIO PCG-41111V Battery In anticipation of the approval of the new five-cent coin, the Mint's chief engraver, James B. Longacre, had begun preparing designs and pattern coins in 1865.^[20][21] After rejecting pieces showing deceased presidents George Washington and Abraham Lincoln, Treasury Secretary Hugh McCulloch decided on a design similar to Longacre's two-cent piece, Sony VAIO PCG-61412V Battery with a shield on the obverse and a numeral 5 surrounded by stars and rays on the reverse. This has come to be known as the Shield nickel.^[18] The new coins proved difficult to produce; owing to the hardness of the planchet, the coins were not of high quality and the life of the striking dies was brief. Sony VAIO PCG-71112M Battery The design was widely criticized; Wharton described the obverse as suggesting "a tombstone surmounted by a cross and overhung by weeping willows."^[22] The American Journal of Numismatics described the Shield nickel as "the ugliest of all known coins".^[22] The rays were eliminated from the reverse design in 1867, in the hope of eliminating some of the production problems.^[23] Sony VAIO PCG-81111V Battery The design change created confusion among the population—many people assumed that one design or the other was a counterfeit—and the Mint briefly considered abandoning the shield design entirely.^[20] After heavy production in its first years, by late 1869, enough nickels had been struck to meet the needs of commerce; fewer were coined in the following years.^[24] Sony VAIO PCG-81111V Battery The new coins tended to accumulate in the hands of merchants beyond the legal tender limit, but banks refused to accept them beyond the one-dollar maximum. Storeowners were forced to discount the coins to brokers.^[19] Postmasters, compelled by law to accept the coins, found that the Treasury would not accept them as deposits except in lots of $100, Sony VAIO PCG-81212M Battery in accordance with the authorizing statute.^[25] In 1871, Congress alleviated the problem by passing legislation allowing the Treasury to redeem unlimited quantities of nickels and other low-denomination coins when presented in lots of not less than $20.^[19] It was not until 1933, long after the shield design passed from the scene, that the nickel was made legal tender without limit.^[24] Sony VAIO PCG-81212V Battery Half dimes continued to be struck, at both the Philadelphia and the San Francisco Mint, until the series was ended by the Coinage Act of 1873.^[26][27] Despite the abolition, the silver pieces continued to circulate in the West, where silver or gold coins were preferred, throughout the remainder of the 19th century.^[19] Sony VAIO PCG-51111M Battery Improved economic conditions, combined with low silver prices, brought large quantities of hoarded silver coinage, including half dimes, into circulation beginning in April 1876.^[28] In late 1876, production of the Shield nickel was halted.^[29] No Shield nickels were struck in 1877 or 1878, excepting proofspecimens for collectors.^[19] Sony VAIO VPCS13X9E/B battery As the Treasury had a large stock of nickels in storage, only small numbers were struck over the next few years; full-scale production did not resume until December 1881. The Shield nickel was the first United States five-cent piece to be made out of copper-nickel, the same alloy of which American nickels are struck today. Sony VAIO VPCS12V9E/B battery Designed by James B. Longacre, the coin was issued from 1866 until 1883, when it was replaced by the Liberty Head nickel. The coin takes its name from the motif on its obverse, and was the first coin referred to as a "nickel"—silver five-cent pieces had been known as half dimes. Sony VAIO VPCS12V9E/B battery Silver half dimes had been struck from the early days of the United States Mint in the late 18th century. Those disappeared from circulation, along with most other coins, in the economic turmoil of the Civil War. In 1864, the Mint successfully introduced low-denomination coins, whose intrinsic worth did not approach their face value. Sony VAIO VPCF13M8E/B battery IndustrialistJoseph Wharton advocated coins containing nickel—a metal in which he had significant financial interests. When the Mint proposed a copper-nickel five-cent piece, Congress required that the coin be heavier than the Mint had suggested, allowing Wharton to sell more of the metal to the government. Sony VAIO VPCF13Z0E/B battery Longacre's design was based on his two-cent pieces, and symbolizes the strength of a unified America. The nickel proved difficult to strike, and the reverse, or tails, design was modified in 1867. Even so, production difficulties continued, causing many minor varieties which are collected today. Sony VAIO VPCM13M1E/L battery Minting of the Shield nickel for circulation was suspended in 1876 for a period of over two years due to a glut of low-denomination coinage, and it was struck in only small quantities until 1882. The following year, the coin was replaced by Charles E. Barber's Liberty head design. Sony VAIO VPCM13M1E/W battery Five-cent pieces had been struck by the United States Mint since 1792; they were the first coins struck by Mint authorities.^[1] These half dimes (originally spelled "half dismes"), were struck in silver. The alloy used was originally .892 silver with the remainder copper; in 1837 the silver portion was increased to .900.^[2] Sony VAIO VPCF22M1E battery The Civil War caused most American coins to vanish from circulation, with the gap filled by such means as merchant tokens, encased postage stamps, and United Statesfractional currency, issued in denomination as low as three cents. Although specie (gold or silver coins) was hoarded or exported, the copper-nickel cent, Sony VAIO VPCF11M1E/H battery then the only base metal denomination being struck, also vanished.^[3] In 1864, Congress began the process of restoring coins to circulation by abolishing the three-cent note and authorizing bronze cents and two-cent pieces, with low intrinsic values, to be struck.^[4] These new coins initially proved popular, though the two-cent piece soon faded from circulation. Sony VAIO VPCF13M0E/B battery On March 3, 1865, Congress passed legislation authorizing the Mint to strike three-cent pieces of 75% copper and 25% nickel.^[4] In 1864, Congress had authorized a third series of fractional currency notes. The five-cent note was to bear a portrait of "Clark", but Congress was appalled when the issue came out not bearing a portrait of William Clark, Sony VAIO VPCYB2M1E battery the explorer, but Spencer M. Clark, head of the Currency Bureau. According to numismatic historian Walter Breen, Congress's "immediate infuriated response was to pass a law retiring the 5¢ denomination, and another to forbid portrayal of any living person on federal coins or currency."^[5] Clark only kept his job because of the personal intervention of Treasury Secretary Salmon P. Chase.^[5] Sony VAIO VPCYB3V1E battery Mint Director James Pollock had been opposed to striking coins containing nickel, but in view of the initial success of the copper-nickel three-cent piece, he became an advocate of striking five-cent pieces in the same metal. In his 1865 report, Pollock wrote, "From this nickel alloy, a coin for the denomination of five cents, and which would be a popular substitute for the five cent note, Sony VAIO VPCY11M1E battery could easily be made ... [The five cent coin should be struck in base metal] only until the resumption of specie payments ... in time of peace ... coins of inferior alloy should not be permitted to take the place permanently of silver in the coinage of pieces above the denomination of three cents."^[6] Sony VAIO VPCS12L9E/B battery Industrialist Joseph Wharton had a near-monopoly on the mining of nickel in the United States, and sought to promote its use in coinage.^[7] He was also highly influential in Congress. His friends there, though they had failed to obtain the metal's use for the two-cent piece, had been more successful with the three-cent coin.^[8] Sony VAIO VPCF11S1E/B battery Pollock prepared a bill authorizing a five-cent coin of the same alloy as the three-cent piece, and a total weight not to exceed 60 grains (3.9 g). At the committee stage in the House of Representatives, the weight was amended to 77.19 grains (5.00 g), ostensibly to make the weight equal to five grams in the metric system^[a] Sony VAIO VPCYB3V1E/R Battery but more likely so that Wharton could sell more nickel.^[6] This made the new coin heavy in comparison to the three-cent copper-nickel coin. The bill passed without debate on May 16, 1866.^[6] The new copper-nickel coin was legal tender for up to one dollar, and would be paid out by theTreasury in exchange for coin of the United States, Sony VAIO VPCF23P1E Battery excluding the half cent, cent and two-cent. It was redeemable in lots of $100 for banknotes. Fractional currency in denominations of less than ten cents was withdrawn. Since coinage was to begin immediately, it was necessary for the Mint's chief engraver, James B. Longacre to prepare a design as quickly as possible.^[11] Sony VAIO VPCF23N1E Battery With the five cent authorization bill pending in Congress, Longacre had produced patterns as early as late 1865.^[12] Longacre produced pattern coins, one with a shield similar to the design he had prepared for the two-cent piece.^[11] Longacre altered the two-cent design by shifting the location of the two arrows in the design, Sony VAIO VPCY21S1E/L Battery removed the scroll on which "In God We Trust" had been inscribed (the first time that motto had appeared on a U.S. coin), and added a cross, apparently intending a pattee to the top of the shield.^[b] Another pattern depicted Washington, while another showed the recently assassinated president, Abraham Lincoln. Sony VAIO VPCY21S1E/G battery