Back then, three cents could actually buy you . . . a postage stamp. Yaaayyy! But eventually the price of a stamp dropped to two cents and the three cent nickel was doomed.
It's said that Abraham Lincoln was late for his swearing-in ceremony in 1865 because he first signed the legislation authorizing the 3 Cent Nickel. There was also a paper banknote issued for three cents, which I guess was a Three Cent Paper Nickel.
Anyway, that's my Three Cents on the matter.
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