Sayings
sometimes reflect bygone eras that are now just distant and foreign
to today's society. The phrases, “two cents”, “your two cents
worth”, or “put your two cents in” are used in some of our
lingo today, but most have never even seen a two cent coin.
Our
two cent coin was introduced in 1864. As the civil war marched on a
lack of coinage in the country spurred the minting of a two cent
piece. During the war people hoarded coins of copper, silver and
gold. With uncertainty in the air most were trying not to have their
value tied up in paper currency, especially since there was no way of
predicting which currency would end up being worth even the paper it
was printed on. Postage was either two or three cents at the time and
with the lack of cents circulating our government was looking for
solutions to these short comings, and so a natural coin to introduce
was the two cent coin.
The
two cent coin carried a motto that had never been used in our coinage
before but is now on all of our coins, “In God We Trust”.
Increased religious sentiments during our country's civil war spurred
this new motto. Since the motto's inception it has appeared on nearly
every U.S. coin designed. Two cent pieces were struck in copper at
twice the weight of a copper cent minted in the same year.
The
need for two cent coins abated after the civil war and so they were
no longer minted after 1873, and in 1873 only proofs were minted for
collectors. One of the shortest lived coins ever produced in America,
today it is increasingly popular with coin collectors. Ironically
since the need for small coinage was so great, today a two cent coin
can be found for under $20. With a mintage of nearly 20 million in
1864 and another 13+ million in 1865 the two cent piece is part of
many collections today.
Overall
the denomination was only struck for ten years making it a relatively
easy set to collect today. According to price guides a complete set
(including the large and small motto varieties of 1864) can be
obtained for under $3,000. Just like any collectable the price can
vary by demand, and condition can also be a factor. In 2008 an 1872
in MS-65 Red sold for over $37,000 at public auction. And one of the
rarest was sold in October of 2000, an 1864 Small motto in Proof 66
Red realized over $74,000 and has an estimated value of more than
$100,000 today.
Whether
you just want to own one as an example or if you want to challenge
yourself to a world class registry set, the two cent series can be a
fun way to collect part of our history. And if you are ever asked to
give someone your “two cents worth” you will now be able to
relate this saying to its origin.
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