U.S. Coins and Bills That Never Caught On With the Public

While any U.S. currency, regardless of when it was originally issued, is honored as legal tender, some coins and bills periodically change design or are eliminated. Sometimes this is because needs and preferences change.

But in some cases, public opinion impacts production. Some of these coins and bills had a brief period of popularity, but all eventually fell out of favor. A couple never made it into circulation at all.

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The U.S. government issued the first $2 bill in 1862 with a portrait of Alexander Hamilton, the first Treasury Secretary of the United States, on its face. In 1869, it was replaced by Thomas Jefferson’s portrait, which has been used on every $2 United States Note or Federal Reserve Note since. In 1928, an image of Monticello appeared on the reverse and remained on the bill until 1976, when it was replaced by an image of the presentation of the Declaration of Independence. The most recent version depicts a portion of John Trumbull’s painting “Declaration of Independence.”

Though these bills have been produced for over 150 years, they have never been popular. Some people consider them awkward, and they are often mistaken as fakes by those unfamiliar with the currency.

The $3 coin was introduced in 1854. Congress and the Mint falsely assumed the public would welcome the coin, primarily to purchase sheets of three-cent stamps. Over 100,000 were struck in the first year, but the coins were not widely circulated, particularly when the Civil War disrupted the availability of gold in the East and Midwest. Even after the war, there was little demand for the coin outside of being used as gifts or jewelry. 

While the coin was minted from 1854 to 1889, only about a half-million were minted. Congress abolished the $3 coin on September 26, 1890, making it obsolete. Subsequently, 49,087 were melted at the Philadelphia Mint over the next decade. Since only 539,792 $3 coins were produced, total, today these coins are rare.

The stella (Latin for star) was created in response to the 1865 formation of the Latin Monetary Union, an alliance of 20 nations attempting to create a multi-nation currency. In 1879, some members of Congress proposed a $4 dollar coin, which would compete with coins of similar value produced by other nations. Stellas were produced as pattern coins in 1879 and 1880. However, the legislation to authorize the production of coins for circulation failed in Congress.

This coin was produced to commemorate both the death of General Dwight David Eisenhower and the 1969 moon landing. Eisenhower’s profile is featured on the front of the coin, while the insignia of Apollo 11 is seen on the reverse. Coins for circulation were struck using the same copper-nickel composition used for dimes and quarters, and a limited number were struck using 40 percent silver for collectors. A new design on the  1976 coins celebrated the Bicentennial of the signing of the Declaration of Independence.

Though millions were produced for circulation, the coin was considered too large to carry around and became more a novelty than a coin used for commercial purposes. In 1978, Congress held hearings about the size and design of the dollar coin and ceased production of the Eisenhower coin.