Home U.S. Coin Forum

Copper coins not legal tender until 1864(?)

I just finished reading an article in NN that discussed various counterfeiting efforts throughout the mid 1800’s of paper money and coinage. At one point, the author of the article it states:

“ Because minor coins, such as cents, were not legal tender until 1864, it was necessary for merchants in major cities, who handled large numbers of copper coins, to sell them at a discount to brokers”

It’s been my understanding that all minor coins of that era (Half Cents and Cents) were authorized to be minted for public and private use.
From 1793 to 1863 would include several versions of the Half Cents and multiple versions of the Large Cents and 2 versions of the Small Cents.

Prior to 1793 there were Colonial issues and Post-Colonial Issues, and for good measure, several Patterns. The article wasn’t directed to Pre-Federal coinage.

So my question is, why wasn’t copper coinage legal tender, and why did it change in 1864?

Wall of HONOR transaction list:WonderCoin, CoinFlip, Masscrew, Travintiques, lordmarcovan, Jinx86, Gerard, ElKevvo

Comments

  • oldabeintxoldabeintx Posts: 1,991 ✭✭✭✭✭

    The 1864 Coinage Act made copper coins legal tender for up to 10 one cent coins or 10 two cent coins. The Act also provided penalties for those who minted copper coins intended to be passed as currency, discouraging Civil War tokens. One might suppose that legal tender status was given to copper US mint currency in order to differentiate and de-legitimize private copper currency. Also, copper coins were being hoarded, so the overriding intent may have been to return more coins to circulation.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file