Not So Funny Money – The Three Cent Coin
The Trime was a three cent coin. There is a great article here at clevelandfed.org explaining how it came into being as a direct result of postage rates in 1851 dropping from 5 cents to 3 cents due to competitive pressure from private delivery companies. It also does a fair job of explaining the monetary crisis the U.S. faced as a result of the Gold Rush and minting coins out of precious metals. According to 1847USA.com, On May 1, 1861 the letter rate was 3¢ if it stayed East of the Rockies, and 10¢ if it crossed the Rockies, both regardless of distance, effectively…