1864 Indian Head Cent - Copper Nickel Cent. Federal coinage, at first only gold and silver but soon after also copper coins, had completely been withdrawn from circulation and was hoarded in large numbers. To encourage the circulation of cents, which had been replaced by private tokens and fractional currency, the metal would be altered. However, the first five months of the year saw regular production of the copper-nickel cents. A total of 13,740,000 pieces were minted for circulation.