The US Mint produced standard circulated Two cent coins from 1864 to 1872 and two proof variations in 1873. It was the first denomination with the motto IN GOD WE TRUST.
Since 19,847,500 pieces were minted the first year, it is the most common date you can find. However, the 2 cent coin value is pretty low, and even the rarest specimens are not particularly worthy, probably because they are not popular like other American coins.
2 Cent Coin History
The US Mint struck Two cents from 1864 to 1873. The engraver of that time, James B. Longacre, came up with the design.
2 cent coin |
|
| Compound | Bronze (95% copper and 5% tin and zinc) |
| Face value | $0.02 (2 cents) |
| Coin weight | 0.21940 ounces (6.22 g) |
| Coin diameter | 0.90551Â inches (23 mm) |
| Coin thickness | 0.07087 (1.8 mm) |
| Shape | Round |
| Edge | Plain |
These coins came into circulation to compensate for the severe one-cent coins shortage. All dates were produced for everyday use, but those minted in 1873 were primarily collectible pieces.
All Two coins’ dates were produced in the Philadelphia mint, but the mintage was decreasing each year. Finally, the Mint Act of 1873 abolished it. Even though the government redeemed and melted large quantities of two-cent pieces, they are still affordable for most collectors.
2 Cent Coin Type
With 19,847,500 produced pieces, the first year was the most represented date in this coin history. There were two different varieties minted that year, with the small and large motto.
It is pretty challenging for collectors to notice the difference between a rare small motto type and a more common large motto variety. The best option is to check how bold letters are and the spacing between them.
If you see considerably bolder lettering with tighter spacing, you can be sure that the coin you have is the one with the large motto. These tiny details will make a difference between a few tens and several hundred dollars.
2 cent coin value* |
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| Year | Quality | ||||||||
| Good | Very good | Fine | Very fine | Extra fine | AU | MS 60 | MS 63 | PR | |
| 1864 large motto | $20 | $25 | $30 | $35 | $55 | $90 | $120 | $200 | $600 |
| 1864 small motto | $240 | $345 | $430 | $560 | $850 | $1,080 | $1,655 | $1,925 | $20,895 |
| 1865 | $20 | $25 | $30 | $35 | $55 | $90 | $120 | $200 | $510 |
| 1866 | $20 | $25 | $30 | $35 | $55 | $90 | $135 | $205 | $510 |
| 1867 | $20 | $25 | $30 | $40 | $55 | $90 | $150 | $220 | $510 |
| 1867 DDO | $110 | $170 | $230 | $345 | $660 | $970 | $1,595 | $3,125 | / |
| 1868 | $25 | $35 | $40 | $55 | $85 | $120 | $170 | $255 | $510 |
| 1869 | $25 | $35 | $40 | $65 | $90 | $140 | $180 | $255 | $510 |
| 1870 | $35 | $50 | $65 | $90 | $150 | $230 | $315 | $370 | $510 |
| 1871 | $45 | $70 | $95 | $120 | $170 | $255 | $345 | $430 | $510 |
| 1872 | $430 | $540 | $660 | $910 | $1,180 | $1,855 | $3,165 | $3,985 | $1,030 |
| 1873 open 3 proof | $1,180 | $1,530 | $1,810 | $1,890 | $1,980 | $2,280 | / | / | $3,490 |
| 1873 closed 3 proof | $1,180 | $1,530 | $1,810 | $1,890 | $1,980 | $2,280 | / | / | $3,650 |
*USA Coin Book
This bronze coin was minted of 95% copper with added 5% tin and zinc. You can see a national shield with stripes at the obverse with two crossed arrows behind, representing war. Olive branches symbolizing peace make the necessary balance.
The Treasury secretary Salmon P. Chase approved the variation with a ribbon above the shield and the motto. The 2-cent coin was the first piece bearing the inscription IN GOD WE TRUST in US history.
The legend says that he modified the Latin saying In Deo Speramus, meaning In God We Hope, the motto of Brown University, where he had graduated.
On the other hand, Baptist minister Mark R. Watkinson suggested to Mr. Chase that US coins need to honor God. In his opinion, only such an act would relieve Americans from barbarism.
2 cent coin value* |
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| Year | Quality | |||
| Good | Fine | Extra fine | Mint state | |
| 1864 large motto | $15 | $25 | $50 | $80 |
| 1864 small motto | $225 | $400 | $850 | $1,000 |
| 1865 | $15 | $25 | $50 | $80 |
| 1866 | $20 | $27 | $50 | $80 |
| 1867 | $20 | $30 | $50 | $80 |
| 1868 | $20 | $36 | $75 | $110 |
| 1869 | $25 | $40 | $80 | $125 |
| 1870 | $35 | $55 | $135 | $200 |
| 1871 | $40 | $85 | $150 | $225 |
| 1872 | $400 | $600 | $1,050 | $1,650 |
*JM Bullion
The simple reverse included the 2 CENTS denomination surrounded by a wheat wreath. You can also see the inscription UNITED STATES OF AMERICA placed along the top coin rim.
2 Cent Coin Value
Even though the Philadelphia mint produced Two cents for only a limited period, you won’t have any trouble finding almost all pieces in the series.
For some reason, these coins are not particularly popular, so their prices are pretty low for such old pieces. You can find specimens in good grades for a modest $20 to $100, while those in the mint state are typically worth about $200.
Only proofs and key dates are costly, but even their prices are never too high. You can find any of these pieces for approximately $200 to $500. Only almost perfect specimens can reach a few thousand dollars at auctions.
2 Cent Coin Rarities and Key Dates
Interestingly, you can recognize at least one die variety in each minting year. The most popular are:
- Doubled dies
- Doubled mottoes
- Recut dates
- A few numeral styles in the date
Most are worth more than standard coins. For instance, 1864 small motto 2 cents and pieces produced in 1872 are rare key dates. Both are worth more than $1,000, but some specimens in perfect condition are even more expensive.
The 1864 small motto can reach $3,000 at auction, while the extra rare high-graded small motto proof value is over $50,000.
The 1872 Two cents in low grades costs $300 to $400, while pieces in the mint state are worth at least $1,650. Scarce coins in the highest ranges can reach $9,000 at auction.
The US Mint produced only 1,100 proofs in 1873. You can recognize two varieties with open or closed 3. Such coins in uncirculated conditions are typically worth $2,000 to $5,000.
Rare varieties in this series are also coins minted in 1867 with a doubled motto IN GOD WE TRUST and 1867 DDO Two cents valued from $145 to $7,500, depending on the condition. Finally, collectors estimate that less than thirty of scarce 1869/8 specimens still exist, making them highly valuable.
2 Cent Coin Grading
As always, the coin value depends on its condition. Nowadays, you can purchase the entire Two cent set of ten dates and two varieties in the mint state for $5,000 to $7,500.
The same series in the lower grades will cost you only $1,500 to $2,000. Remember that only precise evaluation will make a difference, so you should be careful.
Uncirculated – As you know, such a coin wasn’t in use at all, and you need to check whether your piece is one of them.
Therefore, inspecting a few essential parts that first show signs of wear is crucial. Remember that a brown shade is only natural metal toning and won’t affect the coin grade.
2 cent coin value* |
||||
| Year | Quality | |||
| Good | Fine | Extra fine | Mint state | |
| 1864 large motto | $10 | $15 | $30 | $80 |
| 1864 small motto | $185 | $280 | $610 | $940 |
| 1865 | $10 | $15 | $30 | $90 |
| 1866 | $10 | $17 | $35 | $75 |
| 1867 | $10 | $25 | $40 | $110 |
| 1868 | $10 | $25 | $45 | $135 |
| 1869 | $15 | $30 | $55 | $130 |
| 1870 | $20 | $40 | $85 | $180 |
| 1871 | $30 | $45 | $75 | $180 |
| 1872 | $260 | $280 | $735 | $1,650 |
| 1873 proof | / | / | / | $1,770 |
*CoinStudy
Extra fine – This coin has sharp details over the surface, and you can spot only light wear on the high design points. The shield is intact, but olive leaves on the left side are a bit flat on the ends. A wreath on the reverse is still highly detailed but smooth along the edges.
Fine – Wear is clear on this coin surface, delicate design details are flattened, and it is sometimes challenging to see letters. Leaves are smoothed but still separated from each other.
The wreath on the reverse is visibly smooth, and wheat grains faded, but this coin is still desired specimen for many collectors.
2 cent coin value* |
|||||||
| Year | Quality | Mintage | |||||
| Good | Fine | Very fine | Extra fine | AU | MS 63 | ||
| 1864 large motto | $20 | $30 | $35 | $50 | $85 | $165 | 19,847,500 |
| 1864 small motto | $125 | $335 | $525 | $750 | $995 | $2100 | |
| 1865 | $20 | $30 | $35 | $45 | $95 | $180 | 13,640,000 |
| 1866 | $20 | $30 | $35 | $55 | $120 | $215 | 3,177,000 |
| 1867 | $20 | $30 | $35 | $60 | $90 | $170 | 2,938,750 |
| 1867 DDO | / | / | $165 | $525 | $625 | $2,360 | |
| 1868 | $25 | $40 | $50 | $55 | $150 | $225 | 2,803,750 |
| 1869 | $25 | $45 | $60 | $70 | $175 | $225 | 1,546,000 |
| 1870 | $30 | $50 | $75 | $95 | $220 | $400 | 861,250 |
| 1871 | $35 | $60 | $85 | $135 | $220 | $390 | 721,250 |
| 1872 | $290 | $650 | $790 | $1,020 | $1,870 | $3,070 | 65,000 |
| 1873 open 3 proof | / | / | / | / | / | $2,000 | 500 |
| 1873 closed 3 proof | / | / | / | / | / | / | 600 |
* CoinHelpU
Good – The coin in good grade is still collectible, but its value is low due to wear condition. In most cases, the word WE misses in the motto IN GOD WE TRUST and other letterings are faded.
Most details on the reverse are recognizable, but the wreath and bow are now a smooth area, and central leaves are not well-defined.
Summary
Even though these bronze coins are not so popular, they are still a beautiful addition to any collection. The best option is to have your specimen graded since you will receive the actual value after paying the small fee to the grading service.
