The silver 3-cent piece, commonly known as the trime, was a short series minted between 1851 and 1873. The trime, which is sometimes confused with the nickel 3-cent piece, was designed by James B. Longacre and got its nickname from the director of the United States Mint, James Ross Snowden. The trime’s diameter is 14mm, making it the smallest coin ever minted in the United States. (For comparison, the diameter of today’s dime, the smallest circulating coin, is around 18mm.)
who was in office from 1853 to 1861. (Photos: Professional Coin Grading Service )
The Trime’s Creation
In 1850 an influx of gold came from California, and silver prices increased, making silver coins too expensive to produce. At the same time, people were hoarding and melting silver and gold coins. With a coin shortage on the horizon, the mint needed to create a cheap issue to fill the gap. The trime was created with .750-fine instead of .900-fine silver. Because of the coin’s size, it contained less than 3 cents of silver, making it pointless to hoard or melt. The trime was very popular when it was first released. Postage stamps at the time cost 3 cents, and it was easier to pay for postage with a trime instead of lugging around large cents.
Variety 1
The trime was made in three varieties. Variety 1, struck from 1851 to 1853, was popular and circulated widely. This design can be distinguished from the later two designs by the obverse star, which has no outline. Variety 1 is also the only coin of this series with a mintmark: the 1851-O (denoting the now-defunct New Orleans Mint). The mintmark appears on the reverse to the right of the “C” ornament.
Variety 2
The mint introduced Variety 2 in 1854, and it was made through 1858. A border was added around the star, and an olive branch and a bundle of arrows were also placed on the reverse on the top and bottom of the Roman numeral III. These new additions led to poorly struck coins. Nicely struck Variety 2 coins are rare in mint-state condition. The trime eventually lost favor with the public, and Variety 2 and 3 mintages are lower than Variety 1.
Variety 3
The mint again modified the trime in 1859. Minor design changes appear on the obverse, where one of the borders around the star was removed. In an attempt to stop coin hoarding, Congress decreased the weight of all silver coins, except for the dollar coin, in February and March 1853. The trime’s weight decreased, but its purity was increased to .900-fine silver. Demand—and the trime’s popularity—kept dropping. By 1862, the mint made very few trimes for circulation. Under the Coinage Act of 1873, the coining facility discontinued the denomination. Only proofs were struck later that year.
A Rare Commodity
Collectors should have no trouble finding circulated and mint-state examples of Variety 1 trimes. The only rare Variety 1 coin is the 1851-O. The 1851 issue from New Orleans is rare in high mint-state grades and can be worth around $2,000 today. Variety 2 trimes are harder to find in better conditions and are considered rarities in high Mint State because of the variety’s weak strike. Variety 3 trimes are common in higher mint-state conditions. But because of low mintages, all high mint-state coins struck after 1865 are scarce and valuable. Proof mintages are often low and sometimes unknown, making it challenging to find proof-graded trimes with cameo surfaces.
Grading
Knowing the grading standards for a series like the trime is important. If you think a rare trime has a good grade, submit it for grading. A rare trime in good condition can be worth a lot more if it is slabbed by a reputable service like Numismatic Guaranty Company or Professional Coin Grading Service. Knowing basic grading can also help you determine your coin’s rarity.
Here are the grading standards for Extremely Fine to Mint State trimes: Extremely Fine examples have obvious wear on the star arms and frame and little to no luster. Wear is also noticeable on the “C” ornament, but the shapes are still visible in the “C.” The arrows and olive branches are worn but have some detail. About Uncirculated pieces are lightly worn on the star arms, the border, and/or the shield in the middle of the star. The reverse has good detail on the “C” ornament and the Roman numeral III. Light wear appears on the arrows and olive branch. Lower-grade About Uncirculated trimes have little to no luster, and high-grade About Uncirculated trimes have most or all the original luster. Mint State trimes have little to no wear but may have minor contact marks in lower mint-state grades. All the luster is present, and the coin should have great eye appeal to be graded Mint State.
The short-lived trime filled a need for small change in the mid-1800s. They are often overlooked by collectors today, but can be easily acquired and remain relatively inexpensive.