For many centuries, people have been making coins. The origins of US coins trace back to the late 1700s. In 1792, the first Coinage Act was passed, creating the US Mint. This organization was responsible for making all US coins. These early coins were made from materials like gold, silver, or copper. In this article, we will discuss the types Of US coins after a brief overview of their history.
History of US Coinage
The first official coin of the United States was the half disme. Legend has it that the initial coins were made from Martha Washington’s silverware. The US Mint later diversified its collection by introducing various coins with special designs and denominations. The integration of US coins into circulation marked the onset of a transitional period that persisted for several years before foreign coins lost their legal tender status. Spanish coins, known as the Spanish milled dollar because of the milling technique used, were widely used during this period.
The mid-1800s California Gold Rush provided ample gold reserves to produce US coins. This marked the end of the era of Spanish coins. Let’s explore some notable historic American coins:
- Half Cent (1793 – 1857)
- Large Cent (1793 – 1857)
- Half Dime (1794 – 1873)
- Gold Coins (1795 – 1933)
- Double Eagle (1849 – 1907)
- Silver Three-Cent Piece (1851 – 1873)
- Two-Cent Piece (1864 – 1873)
- Twenty-Cent Piece (1875 – 1878)
- State Quarters (1999 – 2008)
Other US coins with rich history but still being minted are-
- Half Dollar (Since 1974)
- Dollar (Since 1794)
- Quarter (Since 1796)
- Dime (Since 1796)
- Small Cent (Since 1856)
- Nickel (Since 1866)
In 1933, Executive Order 6102 banned hoarding gold during the Great Depression. From 1933, pure gold or silver coins were absent until the 1980s. Modern US coinage, initiated by the Lincoln Cent in 1909, continued the tradition with coins featuring past presidents and Founding Fathers. Recent coins favor commemorative designs, like the state quarter program from 1999 and special designs in 2004.
Types of US Coins
The four main types of US Coins minted for general circulation are:
One Cent (Penny)
The US Cent, commonly called the Penny, was first made in 1793. The first design called the Flowing Hair design, was shared across all coins. The first one-cent coin, unofficially known as the Fugio Cent, was designed by Benjamin Franklin and released in 1787. The current Penny features a side profile of President Abraham Lincoln on the front.
Nickel
The US Nickel originated in 1792 and was called a half disme (pronounced “deem”). The term “Nickel” was adopted in 1866 when President Andrew Johnson approved a bill. The first Nickel, the Shield nickel, was minted in 1866. The current design features a depiction of Thomas Jefferson facing the viewer. The reverse side of the Nickel displays Monticello, Thomas Jefferson’s home.
Dime
The inception of the US Dime dates back to 1792 when it was initially named “dismes”; however, these coins never entered circulation. The inaugural circulation of Dimes occurred in 1796, as authorized by the Coinage Act of 1792. The Draped Bust dime, designed by the first Chief Engraver, Robert Scot, made its debut that year. The Dime design showcases President Franklin D. Roosevelt’s profile on the obverse.
Quarter
First produced in 1796 with the “Draped Bust” design. The Mint Act of 1792 granted authorization for the production of the quarter dollar. As of 2021, the contemporary design showcases President George Washington on the obverse. The reverse side features a depiction of Washington crossing the Delaware River.
Conclusion
Other types of US coins, like half dollars and dollar coins, were once minted for general circulation but were discontinued due to lack of popularity. All of these US Coins have similar features like “In God, We Trust” and “Liberty” inscriptions. The designs also carry phrases like “E Pluribus Unum” and 13 stripes along with “United States of America.” People like to collect these coins while seriously seeing them as an investment option. You can easily find them at Pawn shops or at online precious metal dealers such as JM Bullion, SD Bullion, BOLD Precious Metals, etc.
