10 lesser-known U.S. coins

Coins President Obama recently suggested the retirement of the penny as a direction of reducing the union budget, since it costs about two and a half times its face respect to mint. While that may not happen any time soon, it ‘s even matter to to look at some other coins in U.S. history that were retired, were exceptionally rare, or never even made it off the drawing board …Skip advert

1. BULLION COINS While most of America ‘s neologism is made up of a diverseness of materials, bullion coins are made up wholly of valued metals. presently, there are four kinds : Silver Eagles, Gold Eagles, Platinum Eagles, and Gold Buffalos. Each are legal offer and have their own face value : eloquent Eagles are $ 1, Gold Eagles are $ 5, $ 10, $ 25, or $ 50 ( depending on weight unit ), Platinum Eagles are $ 100, and Gold Buffalos are $ 50. however, it would be a in truth atrocious theme to spend them — the coins are intended to be bought and sold at the current grocery store respect of the metal from which they were created ( which is far, far higher than the face rate ). bullion coins are n’t circulated and ca n’t be purchased from the U.S. Mint directly. rather, a network of authoritative sellers can hook you up … to the tune of the grocery store value of the metal, plus a little extra for the public toilet of having it in coin form. 2. UNIONS After the amber first-come-first-serve of 1849, Californians had a snatch of a money problem. previously, the region had entirely used its own specially-minted coins for currentness. Once California reached statehood, however, this became troublesome, because the U.S. Mint did n’t issue higher-value coins and newspaper currency was still very slow to circulate out west. To combat this, Congress considered creating two new coins : the $ 100 Union and $ 50 Half-Union. The proposal failed, however, and neither coin saw circulation. But in 1910, a private collector came forward with two gold Half-Unions, both marked with an 1877 go steady ( closely twenty years after they were rejected ) .Skip advert The coins are kind of a mystery. No one knows precisely why they were created ( or when, since the 1877 date is possibly faulty ), but respective other collectors have since found copper Half-Unions made using the same die. The two original Half-Unions are now in the Smithsonian. 3. EAGLE COINS From 1792 to 1933, America issued gold coins known as eagles ( not to be confused with the bullion coins mentioned previously ). The longest-lived disused coin in U.S. history, eagles were actually a series of relate denominations. The eagle itself was deserving $ 10, but the Mint besides produced the double-eagle ( $ 20 ), half-eagle ( $ 5 ), and quarter-eagle ( $ 2.50 ). In 1933, however, President Franklin D. Roosevelt, who believed that people hoarding gold might prolong the Great Depression, signed Executive Order 6102, which made it illegal for individuals to possess more than $ 100 deserving of gold. Any amounts in surfeit were turned over to the government for a cash equivalent. This efficaciously ended production of the eagle coins, as the Mint started melting down its own supplies to assist. 4. STELLA In the 1860s, several european countries banded together to create a universal joint currentness, sort of like an early attempt at the Euro. This group called itself the Latin Monetary Union ( or LMU ) and created standards for gold and silver coins that could be minted by the individual countries but were besides easily exchanged on a one-for-one basis. The U.S. concisely considered joining the LMU and produced a concept coin called the Stella. Valued at $ 4 US, the Stella would have been America ‘s adaptation of the LMU gold coin. however, Congress rejected both the Stella and the LMU ( which disbanded after World War I ), so the coin went unused .Skip advert 5. THREE-DOLLAR PIECE   From 1854 to 1889, the U.S. Mint produced a aureate coin deserving $ 3, which is a piece surprise, since they already had the aforementioned quarter-eagle worth $ 2.50. Why did they feel the need to create a offprint mint for the extra 50 cents ? The answer is stamps. More specifically, for buying a whole distribute of stamps. In the mid-1800s, the U.S. Postal Service actually lowered the price of stamps from five cents to three. frankincense, it was widely assumed ( though never immediately stated ) that, basically, the sole purpose of $ 3 coins was for businesses to conveniently buy 100 stamps in a single transaction. obviously, they were n’t much consumption for anything else. Since stamps could n’t stay the like price constantly, the coin was retired within a few decades. ( For the read, a three-dollar musical composition would buy six and a half postage today. ) 6. TWENTY-CENT PIECE

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The shortest-lived circle mint in U.S. history, the twenty-cent while alone lasted from 1875 to 1878. once again, this was America attempting to keep parity with Europe — France, in particular. Their twenty-franc firearm was approximately the same size and material as the twenty-cent piece, and then the two could, in hypothesis, be exchanged evenly. In reality, this was about never done. Though francs were a democratic modesty currency at the clock, the average citizen did n’t have much of a need for a twenty penny coin, particularly since quarters were already well-established. 7. HALF-DIME long earlier nickels were always a thing, the U.S. Mint produced an wholly different five cent mint known as the half-dime. They were, in fact, about half the size of a dime bag american samoa well as being half the rate. From 1792 to 1873, silver half-dimes were produced to fill the gap between pennies and dimes, because no one likes a pocket full of pennies .Skip advert disturb for the half-dime started in 1866, though, when nickel lobbyists convinced the government to authorize the universe of newly five-cent pieces made out of, of course, nickel admixture. The half-dime lasted less than a ten subsequently. The new alleged “ nickel ” quickly edged it out. 8. THREE-CENT PIECE Tying spinal column into the previously-mentioned three-dollar assemble and the half-dime, the three-cent man was a ephemeral ( but reasonably democratic ) coin that was minted between 1851 and 1889. The original three-cent coin was made of silver and was introduced in response to the cheap stamps that besides led to the creation of the three-dollar piece. One coin was equal to one tender, which was simple and convenient. ( You would need sixteen of them to buy a single postage today. ) But ash grey billboard became park during the Civil War, which caused circulation problems. fortunately, the lapp nickel lobbyists who pressured for the half-dime substitute had besides gotten Congress to introduce an option : the three-cent nickel. For the first few years of its life, the “ nickel ” actually came in both three-cent and five-cent varieties. however, since the three-cent nickel was about the lapp size as a dime bag, the two often got confused. In accession, the price of stamps changed once again, leading to the three-cent coin becoming largely unnecessary, and so it was phased out in 1889. 9. TWO-CENT PIECE Another experimental mint, the two-cent piece was largely just a makeshift while to be used to combat coin shortages until the Civil War ended. When the war did end, the U.S. Mint precisely decided to keep making them and see if anyone used them. They did n’t, and between the initial 1864 run and the final 1873 series, production dropped from 20 million coins to just 600. As in 600 total .Skip advert ironically, they might have been very popular in 1883, when the Postal Service once again performed a now-unthinkable act and dropped the cost of stamps down to two cents ( where they stayed, except for a short clock during WWI, until 1932 ). 10. HALF-CENT Although Americans immediately only see fractions of a penny at gasoline stations, they used to be much more coarse. From 1793 to 1857, the U.S. Mint produced a half-cent — the smallest value mint in american english history. Fractions of a cent, which are technically called mills, were actually very utilitarian when minor denominations of currentness actually had some value to them. In fact, some states even produced one mill tokens, worth 1/10 of a cent, at respective points in history. These tokens, which were not official U.S. neologism ( hence the word token rather of coin ), were most much used for paying sales tax on purchases. More from Mental Floss… 7 geeky-cool translations of Hamlet 5 spiritual world parts of NYC ‘s metro organization 9 historical methods for determining the sex of an unborn baby

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