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THE U.S. TWO-CENT COIN: FACTS AND VALUES
The two-cent coin was produced by the U.S. Mint beginning during the Civil War in 1864. The two-cent coin was designed by Chief Engraver of the U.S. Mint, Mr. James B. Longacre. The two-cent coin is made out of 95% copper and 5% tin and zinc. The two-cent coin was produced until 1873.
The two-cent coin was the first U.S. coin to bear "IN GOD WE TRUST". The front of the coin has a shield centered in the middle. The ribbon above the shield reads "IN GOD WE TRUST". There are also two arrows and an olive branch on the front behind the shield. The date is seen centered at the bottom of the obverse. The reverse side of the coin has "2 CENTS" centered and it is surrounded by a wreath. "UNITED STATES OF AMERICA" is centered along the top rim on the back of the coin.
On April 22, 1864, the U.S. Congress authorized the two-cent coin due to the Coinage Act. The law eliminated the silver three-cent coin and the half dime. The silver three-cent piece was later replaced with copper-nickel and it was discontinued in 1889. Minting errors and double-dies are not that rare for the two-cent coins.
As far as values go, the 1872 and the 1873 two-cent coins have the highest value. There were only 65,000 two-cent coins produced in 1872. In good grade, this coin is worth nearly $300. In great condition, it can reach $1,000 or more. In 1873, only proofs were made. Only 1,100 were produced and they are considered very rare. Even in good grade, they are worth $500. A high grade 1873 two-cent coin can reach values in the thousands.
In 1864, 19,847,500 two-cent coins were made. Despite the high production of coins produced, the coin is considered a key date if you find the right type. Pay close attention to the ribbon on the front of the coin above the shield. "IN GOD WE TRUST" should be smaller then the regular coin. This coin is valued around $200 in good grade. You can clearly see the difference in the "T" in "TRUST" or possibly the "E" in "WE". The other coin is considered the "Large Motto Type" two-cent coin and it is worth around $10.
This coin series produced less coins for each passing year. In 1864, there were 20 million coins produced and in 1873, there were only 1,100 proofs produced. The value of your coin is based on rarity and condition. The prices above are valued at a low good grade. This is the average condition of most coins. If they are in great shape, the value will be more then listed. If you have any questions, feel free to leave us a comment.
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