US Coins

Changing times within the hobby as numismatic landscape morphs

Face of 25-cent postal currency note of 1862 printed by National Bank Note Co. presents facsimiles of five, 5-cent stamps depicting Thomas Jefferson.

Image courtesy of Denly's of Boston.

Numismatics had been the hobby of relatively few until the discontinuation of the copper cent and the advent of the Flying Eagle cent in 1857 spawned nationwide interest.

The Philadelphia Mint provided Proof coins each year. These were usually sold as minor sets, with the cent, 2-cent piece (starting in 1864), copper-nickel 3-cent piece (1865 onward), and copper-nickel 5-cent piece (beginning in 1866). Silver coins from the 3-cent “trime” to the dollar were sold in separate sets, and gold coins from the dollar to the $20 double eagle were available as single coins.

Although records have been found of the quantities of silver and gold Proof coins made, the earliest documentation of minor coins is that of 1878 when 2,350 sets were produced. A Guide Book of United States Coins helpfully suggests, for example, that the mintage for minor sets in 1868 was “600+,” the 600 figure being that for silver sets.

Likely the + was a lot more — two or three times the production of silver Proof coins. Not many people know this, and the Guide Book silver mintages are often given for minor coins as well, including by well-intentioned auction catalogers.

Mint-marked coins were not collected at all, and few numismatists took notice of them. Collecting by date was popular and was the practice followed by the keepers of the Mint Cabinet.

Among current items, postal currency notes of 1862 and fractional currency notes of 1863 and later were very popular. Equally or more popular were bronze Civil War tokens with patriotic themes and, separately, advertising messages.

Historical Magazine, launched in 1857, had many numismatic entries, but no coin periodicals were published yet. That changed in July 1866 when the American Numismatic and Archaeological Society began publishing the American Journal of Numismatics. Its first several issues were dominated by listings and information on Civil War tokens.

Dealer lists and auction catalogs often contained useful information. There were no price lists nor were there grading standards. To be a successful numismatist, you needed to learn a lot on your own.

This made the hobby all the more interesting as it became a way of life.

More from

What you need to know before collecting 'classic' U.S. coins

Social media reacts to release of U.S. Mint's silver Kennedy set

Mint unveils 2015 March Of Dimes silver dollar designs

United States, India leading worldwide silver investment over past two months

Higher gold prices are inevitable, although not immediately imminent, says precious metals expert

Keep up with all news and insights by signing up for our free eNewslettersliking us on Facebook, and following us on Twitter. We're also on Instagram!

Community Comments