Moneta
Registered: August 2005
Location: Arizona USA
Posts: 2,364
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Part of my type collection of USA 1853 - different for this one year type, it has arrows at the date. Probably should grade AU50.
Around the middle of the 19th century, there was a pressing lack of small change in the USA. Of course, different small coins were minted: In addition to the cent and the half cent, there were half dollars and quarter dollars made of silver, and dismes and half dismes. The name “dime” is a simplification of the original name “disme” and originates from the French “décime”, meaning “tenth part”. Therefore, the lack of small change was not the result of the fact that not enough coins were minted – the American coins had a different problem: they were too precious! They contained a lot of precious metals and therefore they immediately disappeared abroad, where they were melted down in order to sell the silver at a higher price. [CoinsWkly]
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