The U.S. Two-Cent Piece is a historic coin with a unique place in American numismatic history. It is a copper coin issued by the U.S. Mint from 1864 to 1873, with a face value of two cents. The Two Cent Piece has the distinction of being the first coin to bear the inscription “In God We Trust.” The addition of this phrase is rooted in the Civil War era, reflecting the desire to acknowledge faith during a turbulent time in American history. Its design includes a shield and arrows on the obverse and a simple wreath on the reverse.
The Two-Cent Piece was created as part of a broader response to the coin shortage during the Civil War. Copper coins, including the two-cent denomination, were introduced to address the scarcity of small change, as precious metals like silver were being hoarded. Congress authorized the coin in 1864 to help alleviate this shortage. The U.S. Two-Cent Piece was designed by James B. Longacre, the Chief Engraver of the United States Mint at the time. Longacre is also known for designing other significant coins like the Indian Head Cent and the Shield Nickel.
In 1873, the denomination was discontinued as economic conditions stabilized, making the coin a brief but meaningful chapter in the history of American currency. Today, the Two-Cent Piece is cherished by collectors for its rarity, historic motto, and its connection to a pivotal time in U.S. history.
1864 Small and Large Motto Two-Cent Piece
One of the most interesting coins in this series is the 1864 issue. There are both Small and Large Motto varieties of the 1864 Two-Cent Piece. The Small Motto was the first to be minted in 1864. However, it was quickly replaced by the Large Motto version later in the same year. The change was likely made to improve the coin’s aesthetic and readability by enlarging the motto for a more balanced look. The Small Motto is significantly rarer than the Large Motto variety, being worth more than 10 times the price of the Large Motto. The Small Motto was minted in limited quantities before the switch, making it a prized variety for collectors. Its value can vary depending on the coin’s condition, with high-grade Small Motto examples commanding a steep premium.
The Large Motto became the model for the remaining years of the Two-Cent type.
Two Key Dates of the Two-Cent Piece
Considered to be highly collectible among numismatists, Two-Cent Pieces have, appropriately enough, two key dates. The first is the 1864 Small Motto design, one of two obverses minted during the first year of the series. 1872 is also a key date for Two-Cent Pieces, as it was the last edition of the series to be produced for circulation. While initially popular among Americans, Two-Cent Pieces fell out of favor with the public as the years passed following the Civil War. However, this series continues to be recommended for coin collectors to this day, due to their limited mintage and historical relevance.
Discontinuation and Popularity Today
The discontinuation of the Two-Cent Piece was formalized under the Coinage Act of 1873, also known as the “Crime of 1873” because it removed silver from the standard coinage, impacting the silver mining industry. The act discontinued several denominations, including the Two-Cent Piece, and moved U.S. currency toward a gold standard. This made the Two-Cent Piece part of a pivotal moment in U.S. monetary history.
While it was a practical coin at the time, the Two-Cent Piece is now a sought-after collector’s item. Its relatively short lifespan, combined with its historical and symbolic significance, makes it an intriguing piece for collectors, especially those interested in Civil War-era coins and unique denominations. The 1864 Small Motto variety, in particular, is highly prized.
In sum, the Two-Cent Piece is not only a reminder of the U.S. response to economic and societal challenges during the Civil War but also a landmark in the evolution of American coinage, setting precedents in design and motto that continue to influence U.S. currency to this day.
