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1 1 (February 20, 2024)

handle is hein.crs/goveojh0001 and id is 1 raw text is: $ Congressional Research Service S February 20, 2024 Nickels and Dimes: History and Current Status The Secretary of the Treasury, through the U.S. Mint, is statutorily authorized to issue specific circulating coin denominations (31 U.S.C. §5112). Currently, the United States has six circulating coin denominations-dollar, half dollar, quarter dollar, dime, nickel, and penny. Unlike today's circulating coins, initial coin designs did not feature images of U.S. Presidents; rather, they often featured allegorical images of Liberty and other symbols of the United States. Congress legislatively prescribes the design of circulating coins. Congress could provide future authority to redesign either the nickel or the dime, although no legislation to that effect has been recently introduced. Nickel Designs The Coinage Act of 1792 authorized the first 5-cent coin. They were called half-dimes and were made of silver. The first half-dime was issued in 1794, and until 1913 half- dimes featured an image of Liberty on the obverse. Figure 1 shows several historical half-dimes, including obverses of Liberty with flowing hair (1794) and Liberty with a draped bust (1796). On the reverse, early half-dimes often featured a wreath around the coin's denomination. Figure 1. Selected Early American Half-Dimes 1794 Obverse (Flowing Hair) 1796 Obverse (Draped Bust) Mid-1800s Reverse Source: U.S. Mint, The History of U.S. Circulating Coins, https://www.usmint.gov/learn/history/us-circulating-coins. In 1866, Congress authorized the nickel, composed of copper and nickel. Between 1866 and 1873, the U.S. Mint issued both half-dimes and nickels. In 1913, the nickel's obverse changed to the image of a Native American and the reverse featured the buffalo. Buffalo nickels were issued until 1938, when President Thomas Jefferson was placed on the nickel's obverse and an image of Monticello, President Jefferson's home in Virginia, was put on the reverse. Figure 2 shows examples of the Buffalo and Jefferson/Monticello nickels issued between 1913 and 2003. Figure 2. Selected Images of Buffalo and Jefferson/Monticello Nickels Source: U.S. Mint, The History of U.S. Circulating Coins. For 2004 and 2005, Congress authorized the redesign of the nickel to commemorate the bicentennials of the Louisiana Purchase and the Lewis and Clark expedition. The Westward Journey nickels featured President Jefferson on the obverse and four different images on the reverse. The four designs (shown in Figure 3) featured a depiction of the 1801 Jefferson Peace Medal, which is alternatively known as the Jefferson Indian Peace Medal; a keelboat; the American bison; and a view of the ocean from the Oregon coast. Figure 3. Westward Journey Nickle Reverse Louisiana Louis & Clark American Ocean Purchase Keelboat Bison in View Source: U.S. Mint. Westward Journey Nickel Series, at https://www.usmint.gov/learn/coin-and-medal-programs/westward- journey-nickel-series. 1913 Obverse Early 1900s Reverse Jefferson Obverse Monticello Reverse 1g r

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