<P> The silver half dime , equal to five cents , had been issued since the 1790s . The American Civil War caused economic hardship , driving gold and silver from circulation ; in response , in place of low - value coins , the government at first issued paper currency . In 1865 , Congress abolished the five - cent fractional currency note after Spencer M. Clark , head of the Currency Bureau ( today the Bureau of Engraving and Printing ) , placed his own portrait on the denomination . After the successful introduction of two - cent and three - cent pieces without precious metal , Congress also authorized a five - cent piece consisting of base metal ; the Mint began striking this version in 1866 . </P>
<P> The silver half dime , equal to five cents , had been issued since the 1790s . The American Civil War caused economic hardship , driving gold and silver from circulation ; in response , in place of low - value coins , the government at first issued paper currency . In 1865 , Congress abolished the five - cent fractional currency note after Spencer M. Clark , head of the Currency Bureau ( today the Bureau of Engraving and Printing ) , placed his own portrait on the denomination . After the successful introduction of two - cent and three - cent pieces without precious metal , Congress also authorized a five - cent piece consisting of base metal ; the Mint began striking this version in 1866 . </P>
who 's face appeared on the five cent bill in 1866
who 's face appeared on the five cent bill in 1866
Spencer M. Clark , head of the Currency Bureau
Spencer M. Clark , head of the Currency Bureau