Trime - The only Three Cent Coin. Trime Values and History.

Trime is a former silver three-cent coin of the U.S., issued from 1851 to 1873. It had a face value of three cents and was primarily created to facilitate the purchase of postage stamps, which at the time cost three cents each. The trime was the smallest silver coin ever minted in the U.S., both in terms of size (14 mm in diameter) and weight (0.8 grams). Today, the trime is a valuable collector's item, with certain dates and conditions fetching high prices at auctions.

The Forgotten Coin: How the Trime Came to Be, Thrived, and Disappeared

In the mid-19th century, America’s economy was bustling, but day-to-day transactions had a small problem: making exact change for basic items like postage stamps was a hassle. Imagine trying to buy a three-cent stamp when the smallest silver coin was worth five cents. Frustration grew, and in 1851, the U.S. government had an idea: create a coin worth exactly three cents.

Thus, the  silver three-cent coin, known as the trime, was born. It was a solution for small transactions and became the smallest silver coin ever minted in the U.S., both in size and value. But its story, like its size, is tiny and full of twists.

The Birth of the Trime

The trime was introduced at a time when America was expanding, and the need for practical currency was more pressing than ever. Stamps were a key part of communication, costing three cents each, and people needed an easier way to pay for them. Congress answered this call by approving the trime as part of the Act of March 3, 1851.

But the trime was more than just about stamps. It was also part of a bigger plan to boost silver coin circulation. At the time, there were concerns about silver disappearing from everyday commerce because many coins were being melted down for their intrinsic value. So, the first version of the trime was minted with 75% silver and 25% copper—less silver than other coins, which discouraged melting it down for profit.

Trime Design, Types and Production

The three-cent silver coin, or trime, was first introduced by the U.S. Mint in 1851, with a design aimed at both practicality and ease of minting. Over its relatively short lifespan, the trime went through three distinct design types, each reflecting changes in silver content and public demand. The coin was minted during a unique period in U.S. history, including the California Gold Rush, and was influenced by the economic challenges of the time.

Type 1 (1851–1853): The Original Design

The first trime was designed by James B. Longacre, the U.S. Mint’s Chief Engraver, and debuted in 1851. Its design was simple but unique:

• Obverse (front): Featured a six-pointed star with a federal shield at its center.
• Reverse (back): Displayed a large C-shaped wreath around the Roman numeral III, symbolizing the coin's three-cent denomination.

The initial composition of the trime was 75% silver and 25% copper, with a focus on reducing the coin's intrinsic value. This lower silver content helped prevent hoarding or melting of the coin for its metal.

Image source: PCGS.

Type 2 (1854–1858): Higher Silver Content and Design Adjustments

In 1854, rising silver prices prompted a change in the trime’s composition. The U.S. Mint increased its silver content to 90% silver and 10% copper, aligning it with other silver coins like dimes and quarters. With this shift in alloy came subtle changes in design:

• Obverse: The star was enlarged and surrounded by double outlines.
• Reverse: The Roman numeral III and the "C" were more pronounced, with an added olive branch and arrows to the design.

The Type 2 version was produced during the years following the California Gold Rush, a period that saw fluctuations in the value of silver relative to gold.

Image source: PCGS.

Type 3 (1859–1873): Final Design and Decline

The final version of the trime was introduced in 1859, with minor changes to the design:

• The outlines around the star were removed, leaving a cleaner look.
• The reverse remained largely unchanged, continuing to feature the C-shaped wreath and Roman numeral III.

The trime's production steadily declined during this period, especially as the country faced the Civil War and silver coins were hoarded. In 1865, the U.S. Mint introduced the nickel three-cent piece, made of a copper-nickel alloy, which became more practical and durable in circulation. This coin gradually replaced the silver trime.

Image source: PCGS

Silver Shortages and Changing Times

In 1854, just three years after the trime's creation, its composition was changed to 90% silver, aligning it with other U.S. coins. Why? Because silver price had started to stabilize, and there was less concern about people melting the coins for their metal value.

However, the trime's fate was soon caught up in a much bigger crisis: the  Civil War. Silver coins were hoarded during the war, and many simply disappeared from circulation, including the trime. Paper currency became more common during this period, and the tiny trime faded into the background.

By 1865, the government introduced the nickel three-cent coin, which coexisted with the trime for a few years. It was larger, easier to handle, and more durable. This new coin sealed the trime’s slow demise. As silver continued to fall out of favor for small coins, the writing was on the wall.

The End of an Era: The Crime of 1873

The final blow to the trime came with the Coinage Act of 1873, a sweeping law that ended the production of several silver coins and essentially put the U.S. on the path to a gold standard. This legislation, controversially referred to as the "Crime of 1873," stopped the production of silver dollars and the trime. The government wanted to modernize the nation’s currency, and the tiny silver three-cent piece was no longer necessary.

Collecting the Trime: A Piece of Forgotten History

Although it faded from circulation long ago, the trime remains a beloved coin among collectors. Its story, unique design, and scarcity make it highly desirable. For those who seek the thrill of owning a piece of history, the trime offers both a challenge and a reward.

Some dates are especially rare and sought after, such as the 1851-O trime, which was minted in New Orleans. Another standout is the 1863 trime, minted during the height of the Civil War, with fewer than 22,000 pieces produced. These coins are treasures for collectors today, with some fetching high prices at auction.

For example, in a 2019 auction, an 1866 silver three-cent piece in Proof 67 condition sold for an impressive $45,600! This shows the trime’s enduring value, not just as currency but as a rare collector's item.

Trime Values

Here's a table showing approximate current pricing for the U.S. Trime based on its type and condition. These values are typical for auction prices and coin dealers, but individual coin values can vary depending on rarity, demand, and specific coin features (like mint marks).

Current Pricing for U.S. Trime by Type and Condition

The Trime, a fascinating three-cent coin minted from 1851 to 1873, is a coveted piece for collectors. This table outlines the current pricing for various types of Trimes based on their condition, providing valuable insights for both new and seasoned numismatists.

Trime Type	Good (G4)	Fine (F12)	Very Fine (VF20)	Extremely Fine (EF40)	About Uncirculated (AU50)	Mint State (MS60+)
Type 1 (1851-1853)	$20 - $40	$40 - $80	$80 - $150	$150 - $300	$300 - $600	$600 - $1,200
Type 2 (1854-1858)	$30 - $50	$50 - $100	$100 - $180	$180 - $350	$350 - $700	$700 - $1,500
Type 3 (1859-1873)	$25 - $45	$45 - $90	$90 - $160	$160 - $320	$320 - $650	$650 - $1,300

*information is sourced from NGC and PCGS records

Notes:

• Type 1 Trime (1851-1853): Lower silver content and large production make Type 1 more affordable in lower grades but valuable in Mint State.
• Type 2 Trime (1854-1858): With a higher silver content, these tend to be more sought after, especially in VF and higher grades.
• Type 3 Trime (1859-1873): Though not as rare as Type 2, Type 3 coins still command significant prices in MScondition.

Higher auction prices are seen for rare dates, mint marks (like 1851-O), or proof coins, which can fetch $5,000+depending on rarity and grade. Always consult with a professional grader for accurate valuation.

What Is a Trime Worth Today?

Depending on its condition and rarity, a trime can be worth anywhere from $30 to thousands of dollars. Lower-grade coins might not demand high prices, but pristine examples or rare dates can skyrocket in value. Proof coins, which were specially made for collectors, can also command high prices, especially if they are well-preserved.

The silver trime’s journey from a practical everyday coin to a forgotten relic of the past is a fascinating chapter in U.S. history. It was created to meet a specific need, thrived during a brief moment in time, and then quietly slipped into history. Today, it lives on as a coveted collectible, reminding us of the ever-changing nature of money and the unexpected ways it can capture the imagination of collectors worldwide.

FAQ

1. What is a Trime?

The Trime is a three-cent coin minted by the United States from 1851 to 1873. It was produced in three types, each with distinct designs and specifications. The coin was primarily made of silver and was created to provide a small denomination for everyday transactions, such as buying postage stamps.

2. Why was the Trime created?

The Trime was introduced to address the need for a small-denomination coin in a growing economy. At the time, the U.S. was experiencing a shortage of silver coins due to hoarding, particularly during the California Gold Rush. The Trime facilitated smaller transactions and helped stabilize the currency by providing a practical solution for everyday purchases.

3. What are the different types of Trimes?

There are three main types of Trimes:

• Type 1 (1851-1853): Features a large numeral "3" and a design with a wreath.
• Type 2 (1854-1858): Introduces a Liberty head design, with a coronet and the word "Liberty" on the headband.
• Type 3 (1859-1873): Similar to Type 2 but features a modified design with a different placement of the "3" and more detailed features.

4. What is the composition of the Trime?

The Trime is composed of 75% silver and 25% copper. This alloy allowed for a lower denomination of silver coinage, making it economical for the U.S. Mint to produce while still providing a coin of intrinsic value.

5. When did the Trime stop being minted?

The U.S. Mint stopped producing the Trime in 1873 as part of the Coinage Act of 1873, which effectively demonetized silver coins. This shift was influenced by economic factors, including the transition toward a gold standard and the public's increasing preference for paper currency.

6. How much is a Trime worth today?

The value of a Trime can vary significantly based on its type and condition. Generally, they can range from $20 for lower-grade examples to over $1,500 for well-preserved Mint State coins. Rarity, demand, and specific characteristics such as mint marks also influence current market prices.

7. Where can I buy a Trime?

Trimes can be purchased from various sources, including Bullion Shark!

8. Are Trimes collectible?

Yes, Trimes are popular among collectors, especially those focused on U.S. silver coins or 19th-century currency. Their unique history, design variations, and the relatively small number produced make them an attractive addition to many collections.

9. How do you grade a Trime?

Grading a Trime involves evaluating its condition based on factors such as wear, luster, and overall appearance. Common grading scales include:

• Good (G): Heavy wear with identifiable features.
• Fine (F): Moderate wear, with details visible.
• Very Fine (VF): Light wear, with clear details.
• Extremely Fine (EF): Minimal wear, with almost all details visible.
• About Uncirculated (AU): Very light wear, almost as minted.
• Mint State (MS): Uncirculated, with no signs of wear.

10. What is the historical significance of the Trime?

The Trime reflects the economic and monetary challenges of its time, including the transition from a bimetallic to a more paper-based currency system. Its production and eventual discontinuation illustrate the evolution of U.S. monetary policy and the historical context of the 19th century, making it a significant piece of American numismatic history.

Continue reading:

The History of the 1883 Racketeer Nickel

A Nickel Worth 25 Lamborghinis: Nickel sells for $4.5 mln at auction

The History of the Sacagawea Coin

2024 Star Privy Eagle - American Eagle Silver Coin – A Rare Privy Mark Edition

*This information is for educational purposes only. Bullion Shark is not responsible for any factual errors that may be contained in this post. This information is not intended for investment purposes. Please consult and investment advisor before investing.