The Weird Denominations: Putting Russ in Context — A Numismatic Tribute to Fractional Currency, Odd Denominations, and a Forum Legend

The history of money is littered with failed experiments and weird denominations. I’ve spent years digging through dealer boxes, auction catalogs, and forum archives, and I can tell you—these oddball coins are where the real stories hide. When we picture the coins that shaped American commerce, our minds drift toward the familiar: the penny, the nickel, the dime, the quarter, the half dollar. But there was a time when the United States Mint churned out denominations that baffled the public, confused merchants, and ultimately vanished from circulation. The 2-cent piece. The 3-cent silver. The half dime. These are relics of an era when our monetary system was a living experiment—constantly revised, hotly debated, and occasionally abandoned altogether.

As a monetary historian, I’ve spent decades studying these odd denominations, and their stories are far more fascinating than most collectors realize. They speak to economic crises, wartime shortages, public resistance to change, and the slow evolution of a currency system we now take for granted. In this article, I’ll walk you through the rise and fall of these unusual coins, explain why certain denominations failed, and pay tribute to one of the most memorable figures in online numismatic communities—a man known simply as “Russ”—whose passion for oddities like the 1967 “Birthmark” Kennedy half dollar and his “No Certification, No Education” philosophy left an indelible mark on collectors worldwide.

The 2-Cent Piece: America’s First Failed Experiment

The 2-cent piece holds a special place in American numismatic history. It was the very first coin to bear the motto “In God We Trust,” and yet it was also one of the shortest-lived denominations the United States Mint ever produced. Struck from 1864 to 1873, the 2-cent piece was born out of sheer necessity during the Civil War, when hoarding of all coinage created a severe shortage of small change in circulation.

Why the 2-Cent Piece Was Created

During the Civil War, Americans began hoarding gold, silver, and even copper-nickel coins, fearing the conflict would render federal currency worthless. The resulting void in small-denomination coinage was so severe that merchants issued their own tokens, encased postage stamps circulated as makeshift currency, and the government scrambled for solutions. The 2-cent piece—authorized by the Coinage Act of April 22, 1864—was one of those solutions. Struck from a bronze alloy (95% copper, 5% tin and zinc) and designed by James B. Longacre, it was a practical answer to an urgent problem.

I’ve examined hundreds of 2-cent pieces over the years, and what always strikes me is how well-designed they are for such a short-lived denomination. The obverse features a bold shield, and the reverse displays the denomination within a wheat wreath. The coin was initially popular—the Mint produced over 13 million in the first year alone—but that popularity was fleeting.

Why It Failed

After the war ended, the need for the 2-cent piece diminished rapidly. The public had little use for a denomination that didn’t fit neatly into the decimal system already well-established in American commerce. Making change with 2-cent pieces was awkward, and both merchants and consumers preferred the familiar 1-cent and 5-cent coins. By 1870, production had dropped dramatically, and the denomination was officially discontinued by the Coinage Act of 1873—the same sweeping legislation that demonetized silver and became known as the “Crime of ’73” among silver advocates.

Key dates for collectors:

• 1864 – First year of issue; available in both Small Motto and Large Motto varieties. The Small Motto is significantly rarer and commands a substantial premium, even in lower grades. For serious collectors, this is the variety to chase.
• 1873 – Last year of issue; only proof specimens were struck, making it a key date with genuine scarcity.
• 1864–1870 – Circulation strikes in high grades (MS-63 and above) are scarce and increasingly sought after as collectors recognize their rarity.

If you’re in the market for 2-cent pieces, I’d recommend focusing on the 1864 Small Motto variety in AU or better condition. The premium over the Large Motto is significant, and the coin’s historical importance—as the first to bear “In God We Trust”—makes it a cornerstone of any collection focused on odd denominations. Look for original, problem-free pieces with strong luster and minimal marks. A clean example with good eye appeal will always outperform a cleaned or damaged coin, even at the same technical grade.

The 3-Cent Silver: A Tiny Coin with a Big Story

If the 2-cent piece was a failed experiment, the 3-cent silver was a coin that was born, died, and was reborn—only to die again. First authorized in 1851, the 3-cent silver (affectionately called the “trime”) was one of the smallest and lightest coins ever produced by the United States Mint. It was made of 75% silver and 25% copper—a deliberately debased alloy designed to ensure the coin’s face value exceeded its bullion value, preventing hoarding and melting.

The Original Purpose: Facilitating Postage Payments

The 3-cent silver was created in direct response to a reduction in the postal rate from 5 cents to 3 cents in 1851. Congress recognized there was no convenient coin for paying the new rate, and the trime was the solution. I find this fascinating because it represents one of the clearest examples of the U.S. Mint producing a coin specifically to serve a government function rather than a general commercial need. It’s a reminder that not every denomination was born from market demand—some were legislative creations.

The coin went through three distinct design phases, each with its own character:

1. Type 1 (1851–1853): A star on the obverse with a “C” shield and the Roman numeral “III” on the reverse. This version was tiny—just 14 millimeters in diameter—and weighed only 0.8 grams. Finding a Type 1 with full details is a genuine challenge.
2. Type 2 (1854–1858): An olive sprig was added above the “III” and a bundle of arrows below, with triple outlines on the star. The silver content was increased to 90%, giving these coins a noticeably whiter appearance.
3. Type 3 (1859–1873): A single outline replaced the triple outline on the star, and the design was simplified. This is the most commonly encountered type, but don’t let that fool you—high-grade examples are still scarce.

Why the 3-Cent Silver Ultimately Disappeared

The 3-cent silver survived the Civil War—unlike the gold dollar and the gold $3 piece, which were hoarded out of existence—but it never truly thrived. Its minuscule size made it easy to lose, and the public never fully embraced it. When the Coinage Act of 1873 was passed, the trime was discontinued along with the half dime and the standard silver dollar (temporarily). A nickel 3-cent piece had been introduced in 1865, and it gradually replaced the silver version in circulation.

Key dates and varieties for collectors:

• 1851 – First year of issue; the only year the 75% silver composition was used. Highly collectible and historically significant as the birth of the denomination.
• 1855 – A scarce date in all grades; often weakly struck, so finding one with full detail and strong luster is a real challenge.
• 1862/1 – A notable overdate that commands a strong premium. This is a must-have for variety collectors.
• 1873 – Last year; proof-only issue, making it a must-have for type set builders and series completists.

In my experience grading these tiny coins, the biggest challenge is finding specimens without damage. Because of their minuscule size, 3-cent silvers were easily bent, holed, or worn smooth. A gem example (MS-65 or better) of any date is a genuine rarity and will command prices that surprise collectors unfamiliar with the series. When you do find a clean, well-struck trime with original surfaces and attractive toning, you’re holding something truly special.

The Half Dime: The Smallest Silver Workhorse

Of all the odd denominations in American history, the half dime holds a unique distinction—it was one of the first denominations authorized by the Mint Act of 1792, predating the dime itself by several years. Struck from 1794 to 1873, the half dime served the nation for nearly eight decades before being rendered obsolete by the 5-cent nickel piece. That’s a remarkable run for a coin most people today have never even heard of.

A Coin That Spanned Eras

The half dime went through an extraordinary number of design changes over its lifetime, making it one of the most varied series in all of American numismatics. The major design types include:

1. Flowing Hair (1794–1795) – Among the first silver coins struck by the U.S. Mint; extremely rare and valuable. A piece of the nation’s founding monetary heritage.
2. Draped Bust (1796–1805) – Available with both small eagle and heraldic eagle reverses. The heraldic eagle variety is particularly scarce and commands strong premiums.
3. Capped Bust (1829–1837) – A handsome design that is more readily available to collectors, offering excellent value for the money.
4. Seated Liberty (1837–1873) – The longest-running design, with numerous sub-varieties including arrows at the date, legends versus no legends on the obverse, and different mint marks. This is where the series really comes alive for variety collectors.

I’ve examined half dimes from every era of production, and I can tell you that the Seated Liberty issues from the 1850s and 1860s are among the most undervalued coins in American numismatics. They offer incredible historical significance at prices that are often a fraction of what comparable coins in other series command. If you’re looking for a series where your collecting budget can still go a long way, this is it.

Why the Half Dime Was Eliminated

The half dime’s demise was driven by the same forces that killed the 2-cent piece and the 3-cent silver: the rise of the nickel 5-cent piece. The copper-nickel 5-cent piece, first struck in 1866, was more durable, easier to handle, and more popular with the public. By the early 1870s, the half dime was redundant, and the Coinage Act of 1873 formally ended its production. It was the end of an era for one of America’s oldest denominations.

Key dates for half dime collectors:

• 1794 – The first year of half dime production; one of the most valuable coins in the series and a prize for any early American collector.
• 1802 – An extremely rare date; fewer than a dozen specimens are known to exist. If you encounter one, you’re looking at a six-figure coin.
• 1870-S – A famous rarity that was essentially unknown until the 1970s. The story of its discovery is numismatic legend. If you find one, you’ve struck numismatic gold.
• 1872-S (No Mint Mark, but struck at San Francisco) – A fascinating variety that confuses many collectors and offers a great attribution challenge.

For buyers, I’d recommend focusing on the Seated Liberty half dimes from the 1850s and 1860s in EF-AU condition. They’re historically significant, visually beautiful, and still reasonably priced. The Capped Bust issues are also excellent values, particularly the 1833 and 1835 dates in Mint State. Always examine the surfaces carefully—look for original patina, natural luster, and honest wear. Be wary of altered dates and counterfeit mint marks on the Seated Liberty issues, as these are common pitfalls in this series.

Why Certain Denominations Failed: A Monetary Historian’s Perspective

Having studied the rise and fall of odd denominations for decades, I’ve identified several common factors that contributed to their failure. Understanding these factors is essential for collectors who want to appreciate the historical context—and the numismatic value—of the coins they’re acquiring.

1. Public Resistance to Change

The American public has historically been resistant to new coin denominations. When the 2-cent piece was introduced, people were confused by its non-standard value. When the 3-cent silver appeared, merchants complained about making change. Even the Susan B. Anthony dollar, introduced in 1979, failed largely because the public refused to use a coin that was too similar in size to the quarter. Human habit is a powerful force in commerce.

2. Redundancy with Existing Denominations

Many odd denominations failed simply because they duplicated the function of existing coins. The half dime and the nickel 5-cent piece served the same purpose; the 3-cent silver and the 3-cent nickel were functionally identical. When redundancy exists, the public naturally gravitates toward the more convenient option. The survivor usually isn’t the better coin—it’s the more practical one.

3. Inconvenient Size or Weight

The 3-cent silver was so small that it was easily lost. The Trade dollar—which Russ was so fond of collecting—was too large and heavy for convenient circulation. Coins that are too big, too small, too heavy, or too light tend to fail in the marketplace, regardless of their legal tender status. Physical practicality matters more than most people realize.

4. Economic Shifts and Wartime Disruption

The Civil War was a catalyst for many of the oddest denominations in American history. The 2-cent piece, the 3-cent nickel, and the fractional currency notes were all direct responses to wartime coin shortages. When the war ended and normal economic activity resumed, many of these emergency measures became unnecessary. Coins born from crisis often die with it.

5. Legislative Action

Sometimes, denominations failed simply because Congress decided to eliminate them. The Coinage Act of 1873 was a sweeping revision of the nation’s coinage laws that eliminated the 2-cent piece, the 3-cent silver, the half dime, and the standard silver dollar. These decisions were driven by a combination of economic theory, political pressure, and bureaucratic efficiency. A single piece of legislation can reshape an entire monetary system overnight.

Russ: A Numismatic Legend and His Legacy

No discussion of odd denominations and numismatic culture would be complete without mentioning Russ—one of the most beloved and memorable figures in the online coin collecting community. For those who never had the privilege of interacting with him, Russ (whose username was simply “Russ” on the Collector’s Universe forums) was a fixture on the boards for years, known for his sharp wit, encyclopedic knowledge, and unwavering generosity.

“In Pursuit of the Almighty Dollar” (IPOTAD)

Russ’s avatar and signature often featured the acronym “IPOTAD,” which stood for “In Pursuit of the Almighty Dollar.” For those of us who knew him, this wasn’t a statement about greed—it was a tongue-in-cheek acknowledgment of the collector’s eternal quest for the next great find. Russ was always on the hunt, whether it was for a 1967 “Birthmark” Kennedy half dollar or a gem Morgan dollar picked up raw at a flea market for a song. That relentless curiosity is what separates a true collector from someone who merely accumulates coins.

“No Certification, No Education” (NCNE)

Perhaps Russ’s most famous mantra was “NCNE”—”No Certification, No Education.” This was Russ’s way of saying that a coin’s grade meant nothing without the knowledge to understand what you were looking at. He was a fierce advocate for collector education, and he spent countless hours helping fellow collectors learn about die varieties, authentication, and the nuances of grading. His posts on “AH Kennedys”—a reference to certain Kennedy half dollar varieties—were legendary, and multiple forum members have credited him with putting “a lot of money in my pocket” through his generous sharing of knowledge. That’s a legacy worth more than any coin.

The Slab Caddy and Other Memorabilia

Russ was also known for his “Slab Caddy”—a carrying case for slabbed coins that he apparently distributed to friends and fellow collectors. Several forum members still have theirs, tucked away in drawers and storage boxes, as mementos of a man who went out of his way to make the hobby more enjoyable for everyone around him. The fact that people are still asking “Who still has/uses their ‘Slab Caddy’?” years after his passing speaks volumes about the impact he had. It’s a small object, but it carries enormous sentimental value.

A Character and a Gentleman

By all accounts, Russ was “definitely a character.” He had a way of writing “more with less than just about anyone,” according to one forum member. He was an excellent coin photographer, a savvy eBay seller who could “get top prices,” and a genuinely kind person who came to people’s defense in heated forum debates. He ran a computer shop that was a bit out of the way, and several members expressed regret that they never stopped in to meet him in person. I share that regret.

Russ passed away in late October 2016, and his friend helped finalize his eBay auctions and handle shipping for the remaining items. For those of us who collect odd denominations and unusual varieties, Russ’s legacy is a reminder that the hobby is ultimately about the people—the knowledge they share, the friendships they build, and the passion they bring to every coin they examine.

Russ’s Favorite Coins: What They Tell Us

Russ had a particular fondness for coins that embodied the spirit of the hunt—pieces with interesting stories, unusual varieties, or unexpected beauty. His collection included:

• Trade Dollars: Russ was an avid Trade dollar collector, and his eBay offerings included these large, controversial coins that were originally designed for export to China but ended up circulating domestically. Trade dollars are themselves a kind of “odd denomination”—they were demonetized in 1876, then remonetized in 1887, creating a fascinating legal and numismatic history. Their size, their story, and their collectibility make them a perfect fit for the odd-denomination enthusiast.
• 1967 “Birthmark” Kennedy Half Dollars: Russ and at least one other forum member were “always on the lookout” for these varieties, which feature a distinctive die mark that resembles a birthmark on Kennedy’s portrait. These pieces are a perfect example of the kind of die variety that makes collecting exciting. They’re not expensive rarities—they’re accessible treasures that reward a sharp eye and a curious mind.
• The 1882-O “Flea Market” Morgan Dollar: Perhaps Russ’s most famous coin was an 1882-O Morgan dollar that he claimed to have picked up raw at a flea market for a song, only to have it grade MS-65 at PCGS. The story of this coin became part of forum legend, and it perfectly encapsulated Russ’s philosophy of finding value where others couldn’t see it. That’s the magic of this hobby—sometimes the best coins are hiding in plain sight.
• AH Kennedy Half Dollars: Russ was considered one of the foremost authorities on “AH” (die variety) Kennedy half dollars, and his posts on the subject helped countless collectors identify and attribute these varieties correctly. His contributions to the CONECA community and Kennedy variety collecting remain relevant and valuable to this day.

Each of these coins tells a story—not just about the coins themselves, but about the collector who sought them out. Russ understood that the best finds aren’t always the most expensive or the rarest; sometimes they’re the ones with the best stories. That philosophy is what made him such a respected figure in the community, and it’s a lesson every collector should take to heart.

Actionable Takeaways for Buyers and Sellers

Whether you’re a seasoned collector or just starting to explore the world of odd denominations, here are some practical tips based on the history and market dynamics I’ve discussed. These are lessons I’ve learned—and that Russ taught—through years of hands-on experience.

For Buyers:

• 2-Cent Pieces: Focus on the 1864 Small Motto variety in AU or better condition. The 1873 proof is a worthwhile investment for type set builders. Avoid cleaned or damaged examples—these coins are common enough in nice condition that there’s no reason to settle for problem pieces. Original surfaces and honest wear are your friends.
• 3-Cent Silvers: The Type 1 issues (1851–1853) offer the best combination of scarcity and historical significance. Look for well-centered strikes with full star details and original toning. The 1855 date is particularly undervalued in my opinion—it’s a sleeper that deserves more attention.
• Half Dimes: Seated Liberty half dimes from the 1850s in EF-AU are excellent values with strong eye appeal. If you can afford a Capped Bust example, the 1833 and 1835 dates in Mint State are handsome coins that are still reasonably priced. Be wary of altered dates and counterfeit mint marks on the Seated Liberty issues—authentication is essential.
• Kennedy Half Dollar Varieties: Study the die variety references (the CONECA attribution guides are essential) and always examine coins under strong magnification before purchasing. Russ’s contributions to Kennedy variety collecting are still directly relevant today, and his approach—learn first, buy second—remains the best advice.

For Sellers:

• Authentication matters: As Russ would say, “No Certification, No Education.” If you have an unusual variety or a coin in exceptional condition, get it certified by PCGS or NGC. The premium for a properly attributed variety can be substantial, and certification adds credibility and marketability.
• Photography is key: Russ was renowned for his coin photography, and his listings commanded top dollar because buyers could see exactly what they were getting. Invest time in learning proper coin photography techniques—good lighting, accurate color, and sharp focus. It will pay dividends every time you list a coin.
• Tell the story: If you have a coin with an interesting provenance—especially one with a connection to a notable collector like Russ—document it. Provenance adds value, particularly for coins with forum histories or notable auction appearances. A coin with a story is always more desirable than the same coin without one.

The Enduring Appeal of Odd Denominations

As I reflect on the history of the 2-cent piece, the 3-cent silver, the half dime, and all the other odd denominations that have come and gone, I’m struck by a simple truth: these coins are far more than curiosities. They are windows into the economic, political, and social forces that shaped the nation. Every failed denomination tells a story about what Americans valued, what they rejected, and how they adapted to changing circumstances. That’s powerful stuff for something that fits in the palm of your hand.

Collecting these coins is, in a sense, collecting the history of American monetary experimentation. It’s a pursuit that rewards patience, knowledge, and a willingness to look beyond the obvious. And it’s a pursuit that was championed by collectors like Russ, who understood that the most interesting coins are often the ones that don’t fit neatly into the standard categories. The odd denominations, the weird varieties, the coins that baffled contemporaries—these are the pieces that make numismatics endlessly fascinating.

Russ’s passing in 2016 left a void in the numismatic community that hasn’t been filled. His “No Certification, No Education” philosophy, his IPOTAD spirit, and his generosity with his time and knowledge set a standard that all of us should aspire to. The fact that forum members are still sharing stories about him, still treasuring their Slab Caddies, and still hunting for the same varieties he loved is a testament to the kind of person he was. He didn’t just collect coins—he built community.

So the next time you encounter a 2-cent piece in a dealer’s box, or spot a 3-cent silver at a coin show, or find yourself puzzling over a Kennedy half dollar die variety under magnification, take a moment to appreciate the rich history behind these odd denominations—and remember the collectors like Russ who dedicated their lives to understanding and preserving that history. In the end, that’s what this hobby is all about.

In Russ’s words: IPOTAD. And never stop learning.

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