1864 Two-Cent Piece. FS-401. Small Motto. MS-66 RD (PCGS).

This coin offers amazing quality and eye appeal for this key hub type from the first year of two-cent coinage. The surfaces are exceptionally vivid deep rose-red and lighter golden-apricot, with tinges of pale salmon-pink. Richly frosted and razor sharp, the strike is ideally centered and well executed. Were it not for a couple of extremely faint and minor carbon flecks, this coin would be a strong contender for a Superb Gem grade. The two-cent piece made its debut in 1864 at a time when gold and silver coinage had long since been absent from circulation in the Eastern and Midwestern states due to the economic turmoil and uncertainty of the Civil War. Struck in bronze, the new denomination was not subject to hoarding and, as such, initially proved popular in commerce. After the War, however, production rapidly dropped off until the two-cent piece was ultimately consigned to the history books in 1873. While plans for the new denomination were being finalized, Secretary of the Treasury Salmon P. Chase had heard the appeals of Reverend Mark R. Watkinson of Pennsylvania and decided that the new two-cent coin would include a statement of faith, ultimately settling on IN GOD WE TRUST. The new coin was ready by 1864 and the first versions introduced bore the motto on the obverse in small letters on a ribbon above the shield, flanked by laurel sprays. Not long after its debut, the obverse hub was modified to render the letters somewhat larger, and this hub became the standard for the rest of the series. The Small Motto variety is an important rarity. Scarce in circulated grades, the 1864 Small Motto is very scarce in Mint State with either a BN or RB color designation. Full Red coins are very rare, particularly in the finest Mint State grades, as here.

PCGS# 3581.

PCGS Population: 8; 0 finer.

Estimate: $ 35000