In 1864, during a time of significant change for the United States amidst the Civil War, the 1864 Two Cents Coin was introduced into the currency system. This piece of coinage holds the distinction of being the first to bear the now-familiar motto “In God We Trust,” reflecting a nation in tumult seeking unity and faith. Minted in Philadelphia, the coin featured designs by James Barton Longacre, with a shield on the obverse and a wreath on the reverse. The introduction of the two-cent piece was a part of larger monetary reforms during the war, including the authorization of bronze cents.
The two-cent coin’s unique attributes, including its size, weight, and metallic composition, were a departure from previous coinage. With a diameter of 23 millimeters and a weight of 6.22 grams, the coin’s makeup of 95% copper with a complement of tin and zinc set a new standard. While it circulated for a brief period, the two-cent piece played an integral role in the evolution of American coinage during a pivotal period in the nation’s history.
Table of Contents
1864 Two Cents Coin Facts
- The 1864 two-cent coin marked the introduction of the motto “In God We Trust.”
- It was the product of monetary reforms during the Civil War era.
- Despite its short circulation period, the two-cent piece is a significant artifact of American numismatic history.
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Historical Context
In this section, we explore the backdrop of the 1864 Two Cents coin, encompassing its inception during the tumultuous Civil War period and the legislative actions that paved the way for its creation.
Origins and Civil War Era
The Two Cent piece emerged in a time when the United States of America was deeply entrenched in the Civil War. The years 1864 and 1865 were characterized by socio-economic challenges, creating a coinage shortfall. This scarcity of currency led to the conception of the two-cent piece, as it addressed the need for additional coinage. Mint Director James Pollock played a pivotal role in advocating for the new denomination, aiming to facilitate commercial transactions during these trying times.
The coin notably featured the motto “In God We Trust,” a phrase suggested by Pollock in his earlier proposals. While the initial phrase Pollock suggested was “God Our Trust,” the final motto evolved to become a symbol of hope for a nation riven by conflict. The Two Cent coin’s introduction was a significant event, marking the first appearance of this motto on U.S. currency.
Congressional Legislation
The legislative groundwork for the coin was laid with the passage of the Coinage Act of 1864. Our Congress authorized the production of the two-cent piece, ensuring the coin was legally sanctioned for circulation. It is this Act that formalized the inclusion of the inscription “In God We Trust” on United States coins, a phrase that has continued to appear on U.S. currency to this day.
Following the initial release in 1864, production of the coin remained relatively high into 1865, but then began to decline in subsequent years such as 1866 and 1867. The decreasing mintages each year reflected the coin’s waning popularity as other minor coins like the nickel gained favor.
Design and Features
The 1864 Two Cent piece is distinguished by its unique design elements, which include contrasting details on its obverse and reverse, as well as variations in the motto inscribed on it.
Obverse Details
On the obverse, we observe a shield design that signifies strength and resilience. The shield is adorned with a banner containing the words “IN GOD WE TRUST,” marking its historical significance as the first U.S. coinage to include this motto. This expression of national sentiment was particularly poignant during the Civil War era.
Reverse Details
The reverse showcases a simple yet elegant wreath, which encircles the denomination “2 CENTS.” We find that the wreath is meticulously designed, symmetrical, and showcases the coin’s denomination clearly—demonstrating the coin’s functionality as well as its craftsmanship.
Motto Variations
Within the series of the 1864 Two Cent pieces, there are distinct variations known as the Large Motto and Small Motto types. These terms refer to the size of the lettering used for the motto on the obverse side of the coin. Collectors will note that:
- Large Motto: Generally more common and is characterized by its bold, prominent lettering.
- Small Motto: Rarer and thus more sought after by collectors, the Small Motto variety features more diminutive, fine lettering.
In examining these variations, we gain insight into the nuances of minting practices of the time and the evolution of the coin’s design in a single year.
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Minting and Production
In our examination of the 1864 Two Cent coin, we recognize its significance as both a historic numismatic item and a piece reflecting the technological capabilities of its time.
Mint Mark and Location
The 1864 Two Cent coin was produced without a mint mark, signaling its creation at the Philadelphia Mint, the primary facility of the United States Mint and the sole producer of this denomination during its entire production run.
Production Years and Mintage
The United States Mint struck the Two Cent coins for circulation from 1864 to 1872 with a final collectors’ run in 1873. The inaugural year of 1864 enjoyed the highest production numbers across all the years it was minted. Here’s a concise breakdown of the mintages:
- 1864: 19,847,500
- 1865: Gradual decline
- 1872: 65,000 (final year of general circulation mintage)
Metal Composition
Our Two Cent coin of 1864 features a unique metal composition known as French bronze. This specific alloy consists of:
- Bronze: 95% Copper
- Other: 5% Tin and Zinc
This blend was integral in helping the United States navigate the metal shortages during the Civil War era.
The Two Cent Piece
In our examination of the United States two-cent piece, we focus on this coin’s historical context and the different types that are considered significant both for collectors and for their numismatic value.
Introduction to Two-Cent Pieces
The two-cent piece holds a distinct place in American numismatic history. Minted between 1864 and 1873, this coin was the first to bear the motto “In God We Trust.” We produced it during the Civil War, which brought about changes in coinage and metal composition. Our design for the two-cent piece showcased a robust Shield on the obverse and a wreath on the reverse.
Types and Varieties
Major Varieties:
There are two major varieties of the two-cent piece that were minted in 1864:
- 1864 Small Motto
- This variety is characterized by smaller lettering in the motto and it is more scarce.
- 1864 Large Motto
- More common, with distinctly larger lettering.
| Year | Variety | Notable Feature |
|---|---|---|
| 1864 | Small Motto | Smaller “In God We Trust” motto |
| 1864 | Large Motto | Larger “In God We Trust” motto |
Interesting Varieties:
Within these two types, there exist several die varieties that are of interest to collectors:
- Double Die: Some two-cent pieces exhibit doubling on elements of the coin like the date or lettering.
- Overdate: Varieties where one year is stamped over a previous one.
Among the types, it is the 1864 Large Motto that is more accessible to collectors, while the Small Motto is rarer and subsequently can be more valuable. Our collectors often pursue both types for their historical value and their significance in the evolution of American coinage. The introduction of the two-cent piece during the Civil War makes it an interesting collection piece that marks an era of significant change.
Collectibility and Value
In the realm of numismatics, the 1864 Two Cent piece stands out due to its historical significance and the introduction of the “In God We Trust” motto. Our focus here is on the key factors that influence its collectability and value: condition grading, value determination, and notable varieties.
Condition Grading Scale
The condition of an 1864 Two Cent piece is pivotal to its value. We often refer to the Sheldon Coin Grading Scale to assess a coin’s state. A coin in “Good” (G) condition exhibits heavy wear, where major designs are visible but flattened. A “Very Good” (VG) coin retains more detail, though wear is still quite apparent. As the condition improves to “Fine” (F) and “Very Fine” (VF-20),” design elements become sharper and more distinct. In “About Uncirculated” (AU) grades, only slight wear is detectable. To give context:
- G (Good): Major designs visible, heavy wear
- VG (Very Good): Clearer designs, less wear
- F (Fine): More details, moderate to light wear
- VF-20 (Very Fine): Sharp details, slight wear on high points
- AU (About Uncirculated): Almost no wear, high details
Value Determination
An 1864 Two Cent piece’s value is typically gauged by its grade, rarity, and demand. Values can range broadly from about $25 USD for pieces in average circulated condition to over $200 USD for coins in uncirculated (MS+) condition. Proof coins, specially struck with a mirror finish, command higher premiums. Prices for raw, circulated pieces and those in BN (Brown) condition represent more typical coin prices, whereas examples with RB (Red-Brown) or full red coloration are more valuable. Therefore, a concise value determination table could look like this:
| Grade | Color | Typical Value USD |
|---|---|---|
| G to VG | BN | $25 – $50 |
| F to VF-20 | BN | $50 – $100 |
| AU | BN | $100 – $150 |
| MS+ | RB | $134 – $200+ |
Key Varieties and Interest
Among 1864 Two Cent pieces, variety is key, specifically the Large Motto versus Small Motto types. The Large Motto variety is more common and therefore often less expensive. Whereas, the Small Motto type is scarcer and sought after. Additionally, error coins, such as those with a doubled die obverse, also pique the interest of collectors and carry a significant premium. We also distinguish between fancy 5 and plain 5 in the date, indicating small variations in style that can affect a coin’s appeal and worth. Collectors should be on the lookout for these nuances as they can greatly affect the piece’s desirability and market value.
Cultural and Numismatic Significance
In exploring the 1864 Two-Cent piece, we uncover its profound influence on American coinage and monetary history, particularly through its motto and cultural resonance during the Civil War era.
Historical Impact
The 1864 Two-Cent piece holds a special place in the history of United States money. It is significant for being the first coin to bear the motto “In God We Trust.” This inscription reflected the heightened religious sentiment in the USA during the tumultuous times of the Civil War. The passage of legislation, amid the conflict, that allowed for this motto to be added highlights the nation’s desire to express faith on its coinage. Moreover, the coin was produced at the Philadelphia Mint, a detail that we, as numismatists, recognize as a historic norm since many American coins were struck there.
Contemporary Numismatics
The Two Cent coin, particularly the 1864 Two-Cent piece, is a collector’s treasure in today’s numismatic circles. Its face value belies its historical worth, with specimens in uncirculated condition or those graded as extremely fine commanding high interest. According to sources like the USA Coin Book, the 1864-P (Philadelphia) variety of the Two-Cent piece is especially sought after. This is due to its novelty and the relatively high mintage of nearly 20 million coins in its first year, although this number sharply declined in subsequent years. The coin predates the popular Indian Head cent, yet it carved its own niche among currency enthusiasts who appreciate its distinctiveness and its place in the broader story of American money.
Care and Preservation
When it comes to caring for the 1864 Two Cent pieces, we as collectors must emphasize the preservation of the coin’s integrity and appearance. The primary composition of these coins is copper, a metal prone to oxidation and corrosion which can lead to rust-like spots or tarnishing.
Handling and Storage:
- Handling: We recommend always holding the coin by its edges, wearing gloves to prevent oils from our skin transferring to the copper surface.
- Storage: Use inert materials such as Mylar holders or acid-free paper for storage. Environmental control is crucial—maintain a stable humidity and temperature.
Cleaning:
We do not advise cleaning coins, as this can reduce their numismatic value. If professional conservation is necessary, it should be performed by experts.
Grading Considerations:
Understanding the grading scale is important for us to assess the condition of our 1864 Two Cents:
- G-4 (Good): Major designs visible but worn, copper may have significant tarnishing.
- VG-8 (Very Good): Designs clearer, though flat areas are smoothed.
- F-12 (Fine): All major elements are clear, but copper may show signs of wear and minor discoloration.
- VF-20 (Very Fine): Light wear on the high points, finer details like leaves and letters are sharp.
- EF-40 (Extremely Fine): Only slight wear, much of the mint luster may still be present.
- AU-50 (About Uncirculated): Traces of wear on only the highest points; retains much of its original luster.
- MS-63 (Uncirculated): No wear, with original luster and no significant contact marks; usually a brown color from natural toning.
Documentation:
We keep detailed records of our coins, noting storage conditions and any unique identifiers. Partnering with academic institutions like Brown University can also offer opportunities for further understanding and conservation methods.
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