1865 US Coins: Values & Mintages

US coinage in 1865

The three-cent nickel piece was introduced to replace paper three-cent notes and the motto "In God We Trust" was authorized for all coins large enough to carry it.

How many coins were made in 1865

Counting the circulation issues on this page, US mints struck 50,685,686 coins dated 1865 across 12 issues. That is 32% fewer than in 1864 (74,344,284). In 1866 the figure fell to 29,892,525.

By mint: Philadelphia 49,674,686 (98%, down from 73,346,284) and San Francisco 1,011,000 (2%, up from 998,000).

Those coins held about 463,473 troy ounces of pure silver and 179 troy ounces of gold.

1865 coins by denomination

Cents: 35,429,286 struck in 1 circulation issue of the Indian Head Cent, down 33% on 1864.

Dimes: 185,000 struck in 2 circulation issues of the Seated Liberty Dime, down 23% on 1864. The scarcest is the 1865 (10,000) and the most plentiful the 1865-S (175,000).

Quarters: 99,800 struck in 2 circulation issues of the Seated Liberty Quarter, down 12% on 1864. The scarcest is the 1865-S (41,000) and the most plentiful the 1865 (58,800).

Half Dollars: 1,186,900 struck in 2 circulation issues of the Seated Liberty Half Dollar, up 14% on 1864. The scarcest is the 1865 (511,900) and the most plentiful the 1865-S (675,000).

Gold Coins: 3,700 struck in 1 circulation issue of the Gold Dollar, down 37% on 1864.

Odd Denominations: 13,781,000 struck in 4 circulation issues of the Two-Cent Piece, Three-Cent Silver and Seated Liberty Half Dime, down 31% on 1864. The scarcest is the 1865 (8,000) and the most plentiful the 1865 (13,640,000).

Every 1865 circulation issue at a glance

• 1865 Gold Dollar: 3,700 struck, 14th lowest of 75 in the series, down from 5,900 in 1864.
• 1865 Three-Cent Silver: 8,000 struck, 7th lowest of 23 in the series, down from 12,000 in 1864.
• 1865 Seated Liberty Dime: 10,000 struck, 3rd lowest of 116 in the series, similar to 1864.
• 1865 Seated Liberty Half Dime: 13,000 struck, 3rd lowest of 70 in the series, down from 48,000 in 1864.
• 1865-S Seated Liberty Quarter: 41,000 struck, 24th lowest of 108 in the series, up from 20,000 in 1864.
• 1865 Seated Liberty Quarter: 58,800 struck, 29th lowest of 108 in the series, down from 93,600 in 1864.
• 1865-S Seated Liberty Half Dime: 120,000 struck, 11th lowest of 70 in the series, up from 90,000 in 1864.
• 1865-S Seated Liberty Dime: 175,000 struck, 30th lowest of 116 in the series, down from 230,000 in 1864.
• 1865 Seated Liberty Half Dollar: 511,900 struck, 48th lowest of 116 in the series, up from 379,570 in 1864.
• 1865-S Seated Liberty Half Dollar: 675,000 struck, 57th lowest of 116 in the series, similar to 1864.
• 1865 Two-Cent Piece: 13,640,000 struck, more than 88% of the series' 9 issues, down from 19,822,500 in 1864.
• 1865 Indian Head Cent: 35,429,286 struck, 27th lowest of 54 in the series, up from 13,740,000 in 1864.

Indian Head Cent: Bronze cents and the L on the ribbon

The popularity of thin bronze Civil War tokens showed that people would accept a lighter cent. The Act of April 22, 1864 changed the cent to bronze, cutting the weight from 4.67 to 3.11 grams. The Mint struck both copper-nickel and bronze cents that year. Later in 1864 Longacre added his initial L to the ribbon behind the neck. The 1864 bronze with L is a scarce variety.

Once the war ended, minor coins flooded back into circulation. An 1871 law let banks redeem surplus cents. Production fell from about 10 million in 1868 to just over 5 million in 1870 and about 4 million in 1871 and 1872, which makes those three dates scarce today. Bronze coins of this era tone from red to brown. Survivors with full diamonds and a complete LIBERTY are prized.

See every Indian Head Cent →

Seated Liberty Quarter: Heavy output and Civil War hoarding

With the lighter standard in place, quarters circulated freely. Philadelphia struck about 7.3 million in 1856, 9.6 million in 1857 and 7.4 million in 1858. The 1856-S includes a large S over small S variety. New Orleans made its last quarters of the period in 1860 and did not strike them again until 1891.

Once banks suspended specie payments at the end of 1861, silver vanished from circulation in the East. Philadelphia output fell to 191,600 in 1863, 93,600 in 1864 and 58,800 in 1865, while San Francisco, where silver still passed at par, kept striking small runs. The 1864-S, at 20,000, is the key of the decade. From 1858 proofs were made each year in the hundreds. Several of the Civil War dates are easier to find as proofs than as business strikes.

See every Seated Liberty Quarter →

Seated Liberty Half Dollar: Peak branch output and the 1861-O

With the arrows gone, halves were struck in large numbers. New Orleans reached 7,294,000 in 1858. San Francisco's early halves, such as the 1856-S and 1857-S, are scarce in better grades. In 1861 New Orleans struck 2,532,633 halves under three authorities: the United States, the State of Louisiana and the Confederacy. Specialists use die markers to tell which authority struck a given coin. Four halves were also made with a Confederate reverse design.

During the Civil War silver disappeared from eastern circulation. Philadelphia mintages fell to between about 250,000 and 512,000 a year from 1862 to 1865. San Francisco, where coins still passed at face, struck more halves than Philadelphia in most of those years. Worn wartime Philadelphia halves are harder to find than their mintages suggest because many were melted later.

See every Seated Liberty Half Dollar →

Gold Dollar: Wartime suspension and tiny mintages

Banks stopped paying out gold at the end of 1861 and gold coins disappeared from eastern circulation. After a large 1862 mintage of 1,361,355, Philadelphia struck only a few thousand gold dollars a year through most of the 1860s and 1870s. Gold remained at a premium over paper money until specie payments resumed at the start of 1879.

Exceptions were 1873 and 1874, when production rose to 125,100 and 198,800. The 1873 comes with closed 3 and open 3 dates. The 1875, with only 400 business strikes and 20 proofs, is the lowest mintage of the type. The 1870-S, 3,000 struck, is the only San Francisco gold dollar of the period. Survivors from these years are scarce in any grade.

See every Gold Dollar →

Two-Cent Piece: Civil War coins with a new motto

The Coinage Act of April 22, 1864 created the bronze two-cent piece during the Civil War coin shortage, when silver and even cents had vanished from circulation. James B. Longacre, chief engraver of the Mint, created the shield design. It was the first United States coin to carry IN GOD WE TRUST, placed on a scroll above the shield. The same law changed the cent from copper-nickel to bronze.

Philadelphia struck 19,822,500 in 1864 and 13,640,000 in 1865. The 1864 comes with a small motto and a large motto. The small motto is much the scarcer of the two. The 1866 mintage fell to 3,177,000 as copper-nickel three-cent pieces arrived. Survivors are usually brown. Many show spots, verdigris or cleaning, while fully red coins are rare.

The two-cent piece appeared at the height of the Civil War, when cents were hoarded and the Treasury wanted a small coin that would circulate. Nearly 20 million were struck in 1864, the largest output of the series, in Small Motto and Large Motto varieties. The Small Motto is much scarcer and is the variety collectors look for first.

See every Two-Cent Piece →

Three-Cent Silver: Hoarding and the proof-only years

When silver was hoarded during the Civil War, the three-cent silver stopped circulating. Philadelphia struck only 21,000 in 1863 and no more than 22,000 a year after that, falling to 1,000 in 1872. The copper-nickel three-cent piece of 1865 took over its role in commerce. Proof sets of these years included the coin.

Proofs were struck each year, often in numbers close to or above the business strikes, so proofs of these dates are easier to find than circulation strikes. The 1873 was made only as a proof with a closed 3, after which the Coinage Act of 1873 ended the denomination. Many business strikes of these years were later melted. Worn examples of the late dates are rare and are sometimes mistaken for impaired proofs.

See every Three-Cent Silver →

Seated Liberty Dime: Civil War rarities from Philadelphia

These five years hold the lowest Philadelphia mintages of the series. With silver hoarded in the East, Philadelphia struck only 14,000 dimes in 1863, 11,000 in 1864, 10,000 in 1865, 8,000 in 1866 and 6,000 in 1867. Silver was not circulating in the East, so there was little call for new dimes there. Every one of those dates is a key and even a worn example is a significant rarity. The 1867, at 6,000, has the smallest business strike mintage of any Seated dime.

In California gold and silver kept circulating through the war, so San Francisco carried the load. It struck between 135,000 and 230,000 dimes each year, with the 1864-S the largest at 230,000. The S coins are scarce but far more available than the Philadelphia issues of the same years. Many have heavy wear from years of use in the West.

Proofs were struck at Philadelphia throughout the war, with 460 in 1863 and 725 in 1866. For 1863 to 1867 the proof is sometimes easier to find than a business strike of the same date. That makes careful attribution important. A proof has mirror fields, sharp squared rims and crisp stars and letters, while a business strike has satiny luster or ordinary wear. Altered dates and removed mint marks are a known risk, so have any Philadelphia dime of these years authenticated.

See every Seated Liberty Dime →

Seated Liberty Half Dime: Civil War scarcity and the first San Francisco half dimes

With silver hoarded in the East, Philadelphia struck very few half dimes for circulation. The totals were 18,000 in 1863, 48,000 in 1864, 13,000 in 1865, 10,000 in 1866 and 8,000 in 1867. Every one of these dates is a key and a significant rarity in any grade. The 1867, at 8,000, has the lowest business strike mintage of any regular Seated half dime. Fractional currency notes in denominations as low as three cents did the work these coins would normally have done. Philadelphia also struck proofs each year, from 460 to 725, so a proof is sometimes easier to find than a business strike.

San Francisco struck its first half dimes in 1863, a total of 100,000. Gold and silver still circulated in California during the war, so S coins went straight into use. San Francisco made 90,000 in 1864 and 120,000 a year from 1865 to 1867. These S dates are scarce but much more available than the Philadelphia coins, though most survivors are well worn.

Because the Philadelphia dates are so rare, check any of them carefully. Confirm the date has not been altered and that no mint mark has been removed. Proofs have deep mirror fields and sharp rims. Business strikes have frosty luster or normal wear. For the S coins, look near the bow of the wreath for the small S.

See every Seated Liberty Half Dime →