May 16

On May 16, 1832, Chilean miner Juan Godoy uncovered extensive silver veins in the remote desert region of Chañarcillo, approximately 350 miles north of Santiago. His discovery triggered one of the largest silver rushes of the 19th century, attracting thousands of prospectors and transforming the economy of northern Chile. Boomtowns quickly emerged around the mining sites, bringing rapid growth, wealth, and social change to the previously sparsely inhabited Atacama Desert. The influx of labor and capital financed Chile's infrastructure development, including railways and ports. Chañarcillo's output made Chile one of the world's leading silver producers by the mid-1800s. The rush also spurred technological innovations in mining and ore processing. However, the mining boom led to environmental impacts and labor disputes that resonated throughout the region.

On May 16, 1866, the United States Congress passed legislation creating the nickel as a five-cent coin composed primarily of copper and nickel. This new coin replaced the half-dime, a small silver piece, providing greater durability and lower production costs. Minting began in 1866 at the Philadelphia Mint, and the design featured a shield on the obverse and Roman numeral denomination on the reverse. The introduction of the nickel reflected post–Civil War economic reforms and standardized U.S. coinage. The new five-cent piece quickly became a popular currency for everyday transactions. Over time, the nickel’s composition and design have evolved, but it remains a staple of U.S. coinage. The decision underscored Congress’s role in shaping the nation’s monetary system.