On This Day
·

US Congress authorizes the nickel 5 cent piece (replaces silver half-dime)

The copper-nickel three-cent piece, often called a three-cent nickel piece or three-cent nickel, was designed by US Mint Chief Engraver James B.

The copper-nickel three-cent piece, often called a three-cent nickel piece or three-cent nickel, was designed by US Mint Chief Engraver James B. Longacre and struck by the United States Bureau of the Mint from 1865 to 1889. It was initially popular, but its place in commerce was supplanted by the five-cent piece, or nickel.

With precious metal federal coinage hoarded during the economic turmoil of the American Civil War, including the silver three-cent piece, and even the copper-nickel cent commanding a premium, Congress issued paper money in denominations as small as three cents to replace the hoarded coins in commerce. These small slips of paper became ragged and dirty, and the public came to hate "shinplasters".

Historical Significance

The copper-nickel three-cent piece, often called a three-cent nickel piece or three-cent nickel, was designed by US Mint Chief Engraver James B.

Events Before

  1. New York Stock Exchange opens its first permanent headquarters at 10-12 Broad Street, near Wall Street, in New York City

    The New York Stock Exchange Building (also NYSE Building) is the headquarters of the New York Stock Exchange (NYSE), located in the Financial District of Lower Manhattan in New York City.

  2. Confederate Brigadier-General John Pegram marries Hetty Cary (US Civil War)

    Confederate Brigadier-General John Pegram marries Hetty Cary (US Civil War)

  3. Congress passes, by a vote of 121-24, the 13th Amendment to the US Constitution, abolishing slavery in the United States

    Congress passes, by a vote of 121-24, the 13th Amendment to the US Constitution, abolishing slavery in the United States except as punishment for a crime [1] [2]

  4. Robert E. Lee is named general-in-chief of Confederate forces

    Robert Edward Lee (January 19, 1807 – October 12, 1870) was a Confederate general whose early actions in the American Civil War led to his appointment as the overall commander of the Confederate…

  5. General Robert E. Lee is appointed General-in-Chief of the Confederate Armies during the US Civil War

    Robert Edward Lee (January 19, 1807 – October 12, 1870) was a Confederate general whose early actions in the American Civil War led to his appointment as the overall commander of the Confederate…

Events After

  1. Labor union leader Samuel Gompers (17) weds co-worker Sophia Julian (16) in Brooklyn, New York

    Labor union leader Samuel Gompers (17) weds co-worker Sophia Julian (16) in Brooklyn, New York

  2. Russian novelist Fyodor Dostoevsky (45) weds Anna Snitkina at Trinity Cathedral in Saint Petersburg, Russia

    Russian novelist Fyodor Dostoevsky (45) weds Anna Snitkina at Trinity Cathedral in Saint Petersburg, Russia

  3. British North America Act is passed in the House of Commons, serves as Canada's constitution for more than 100 years

    Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the second-largest...

  4. Joseph Lister first outlines the discovery of antiseptic surgery in an article in "The Lancet"

    Joseph Lister first outlines the discovery of antiseptic surgery in an article in "The Lancet"

  5. The United States buys Alaska from Russia for $7,200,000 (109 million in 2018 dollars), roughly 2 cents an acre

    The United States buys Alaska from Russia for $7,200,000 (109 million in 2018 dollars), roughly 2 cents an acre

More from the 1860s

Abraham Lincoln issues the Emancipation Proclamation to free enslaved people in Confederate states

Abraham Lincoln (February 12, 1809 – April 15, 1865) was the 16th president of the United States, serving from 1861 until his assassination in 1865.

Slavery is abolished in the Dutch East Indies for areas under direct rule

The Dutch East Indies, also known as the Netherlands East Indies, was a Dutch colony with territory mostly comprising the modern state of Indonesia, which declared independence on 17 August 1945.

birth

Alfred Stieglitz is born

Alfred Stieglitz, American photographer, known for american photographer, was born on 1864-01-01.

birth

Qi Baishi is born

Qi Baishi, Chinese painter, known for chinese painter, was born on 1864-01-01. Qi Baishi (1 January 1864 – 16 September 1957) was a Chinese painter, noted for the whimsical, often playful style of…

Frequently Asked Questions

What happened on May 16, 1866?
The copper-nickel three-cent piece, often called a three-cent nickel piece or three-cent nickel, was designed by US Mint Chief Engraver James B. Longacre and struck by the United States Bureau of the Mint from 1865 to 1889. It was initially popular, but its place in commerce was supplanted by the five-cent piece, or nickel.
Why is US Congress authorizes the nickel 5 cent piece (replaces silver half-dime) significant?
The copper-nickel three-cent piece, often called a three-cent nickel piece or three-cent nickel, was designed by US Mint Chief Engraver James B.

Explore More

May 16 in HistoryYear 1866