1873 was the single year in U.S. history where the U.S. Mint was producing the most number of coins at the same time. 17 different coins marks a record for the mint, and complete sets also include three arrow/no-arrow variations to bring it to 20.
- One cent
- Two cents
- Three cents silver
- Three cents nickel
- Half dime
- Five cents
- Ten cents (+1 counting arrows/no arrows near the date)
- Quarter (+1 counting arrows/no arrows)
- Half dollar (+1 counting arrows/no arrows)
- Dollar
- Trade Dollar
- Gold Dollar
- Quarter Eagle ($2.50 gold)
- Three Dollar Gold
- Half Eagle ($5 gold)
- Eagle ($10 gold)
- Double Eagle ($20 gold)
1873 marks a coin production record that will never be broken
Why?
1. The mint currently only produces 5 denominations for circulation, and if/when that number moves, it will only go down
2. During that year, there were a few duplicate coin denominations (two three-cent coins, two five-cent coins, and three dollar coins)
2. 1873 uniquely marked the last year of the three cents silver and half dime, and the first year of the trade dollar
The year 1873 stands as a pivotal moment in the history of U.S. coinage, marking both the end of an era and the dawn of new beginnings. This remarkable year witnessed the cessation of several long-standing coin denominations and the introduction of the Trade Dollar, which symbolized America’s growing economic ambitions and international trade aspirations. The cessation of the Two-Cent piece, a coin that had been in circulation since 1864, marked the end of an era. Similarly, the end of the Silver Three-Cent piece and the Half Dime, both of which had seen extensive use in everyday transactions, reflected a shift in the nation’s monetary needs and priorities.
In addition to these significant conclusions, 1873 also heralded the birth of the Trade Dollar. This new coin was created specifically for trade with Asia, particularly China, where American merchants sought to compete with other foreign currencies in the bustling markets of the Far East. The Trade Dollar was larger and heavier than the standard Silver Dollar, designed to be more acceptable and competitive in international trade. This innovation underscored America’s increasing engagement with global commerce and its desire to establish a stronger presence in the world economy.
The Coinage Act of 1873, often referred to as the “Crime of ’73” by its detractors, played a crucial role in these changes. This comprehensive legislation not only discontinued several existing coins but also redefined the standards for silver coinage in the United States. The Act effectively ended the bimetallic standard of using both gold and silver as the basis for U.S. currency, moving the nation towards a de facto gold standard. This shift had profound implications for the economy, particularly for silver miners and debtors who had relied on the previous system, sparking significant political and economic debate.
Moreover, 1873 is notable for the sheer diversity of coinage that was simultaneously in production. With denominations ranging from the humble One Cent to the majestic Double Eagle ($20 Gold piece), this year showcased the full spectrum of America’s coinage capabilities. Collectors and historians alike find 1873 to be a treasure trove of numismatic interest, offering a unique snapshot of the country’s monetary history. The coexistence of so many different denominations in a single year provides a fascinating glimpse into the economic conditions and cultural values of post-Civil War America.