Many collectors and enthusiasts often overlook the smaller denomination coins, unaware of their potential value. One noteworthy example is the 1864 2 Cent Small Motto coin, an exceptional piece of American numismatic history that commands impressive auction prices.
A Remarkable Auction
This Article Includes
The 1864 2 Cent Small Motto coin, graded MS66 Red by Professional Coin Grading Services (PCGS), achieved a staggering auction price of $78,000 on August 16, 2018. This auction highlighted the coin’s rarity and the high demand among collectors for well-preserved examples.
Legislative Background
The issuance of the 2 Cent coin was authorized by legislation in April 1864. Mint Director James Pollock designed the coin, which received the necessary approvals from the Treasury Secretary of the time. This legislative move aimed to provide a convenient currency option during a period of economic transition.
Why Is This Coin So Valuable?
Several factors contribute to the remarkable value of the 1864 2 Cent coin. Most notably, it is one of the first U.S. coins to feature the motto “In GOD WE TRUST,” making it historically significant. This motto not only added a layer of cultural importance but also resonated with the American public at the time, contributing to its popularity.
Specifications of the Coin
The 2 Cent piece has a weight of 6.22 grams and a diameter of 23.00 millimeters, providing a perfect size for everyday transactions. The coin is composed of 95% copper and 5% tin and zinc, reflecting the materials commonly used in U.S. coinage during that era.
Variants of the 2 Cent Coin
Interestingly, there are two distinct variants of the 1864 2 Cent piece: the Small Motto and the Large Motto. The difference lies in the size of the letters used in the motto “IN GOD WE TRUST.”
Small Motto vs. Large Motto
The original version, known as the Small Motto, features smaller lettering, while the later Large Motto version presents the phrase in a larger font. The Small Motto is considerably rarer, making it more sought after by collectors. The Philadelphia Mint produced both variants, with the Large Motto becoming the standard for subsequent two-cent coins.
Conclusion: A Treasure in Your Pocket?
The 1864 2 Cent Small Motto coin is more than just a piece of currency; it is a representation of American history and culture. Its unique features and historical significance make it a prized possession for numismatists and collectors alike. If you happen to come across one of these coins, you may just be holding a small fortune in your hands!