Two Cent Piece: More Than a Penny for Your Thoughts

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More Than a Penny for Your Thoughts--I'll Give You Two Cents!

The Two Cent Piece is one of the most fascinating pieces of American coinage for several reasons. Not only was the two cent piece among the coins with the shortest production runs in U.S. History, it is also notable because it had several interesting design elements and introduced what became a US Mint tradition (and eventually a legal requirement).

 

 

In 1864 the Civil War was raging in the United States, and had been since 1861. Production of guns, bullets and equipment to fight the war had caused certain metals to become scarce, and the U.S. Congress began to look at ways to conserve resources and cut costs.

April 22, 1864 the Congress passed the Coinage Act of 1864. Not only did it change the composition of the One Cent Coin, it authorized the production of a new coin . . . the Two Cent Piece, which it hoped would reduce the reliance on the one cent piece and cause fewer coins overall to be needed.

The Two Cent Piece 


Weight: 6.221 grams
Diameter: 23.00 millimeters
Edge: Plain
Composition: 95% Copper, 5% Zinc and Tin

 

James Barton Longacre 

The Two Cent Piece's designer was James Barton Longacre. Longacre was appointed chief engraver of the United States Mint on September 16, 1844, after the death of Christian Gobrecht. He served in the post until his death on January 1, 1869.

Longacre's most popular design today is probably the Indian Head Cent Although Longacre's dies were used on many different pattern coins and trial coins, among his better known works are the Liberty Head used on the 1848 gold $1 and $20, the Indian Princess gold $1 and $3 of 1854, and the Shield nickel.

James Barton Longacre's Double Eagle Gold Piece 

A Look at the Design . . . And A Question for You


James Barton Longacre also designed the $20 Gold Piece. This coin was affectionately called the "Double Eagle." But there is only one eagle depicted on the coin. Can you guess why the coin was called the "double" eagle? You'll find the answer further down the page.

A Recent Acquisition 

Another Coin for my 1865 Set


I like collecting groups of coins from specific years. 1865 was a pivotal year in United States History. The end of the Civil War. The assassination of a President. The beginning of the Reconstruction. I am putting together a set of coins from 1865 which would be representative in condition of typical coins from that period. I found this Two Cent Piece interesting because of coloration and interesting wear patterns. I think it will fit right in!

 

Two Cent Pieces on eBay 

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The Tale of the Two Cent Piece Continues 

The Two Cent Piece went into production in 1864. That year 19,847,500 were produced. It would prove to be the year more of the coins were produced than any other. In 1865, production dropped to 13,640,000, and 3,177,000 were produced in 1866. Production continued to decline through 1872, when only 65,000 were produced. In 1873, no Two Cent Pieces were produced for general circulation...only approximately 1,100 proof coins. 1873 was the last year of production. So in all, about 45,600,000 Two Cent Pieces were produced, about 73% of the total production in the first two years.

There have been discussions concerning beginning production of the Two Cent Piece again due to what some people see as the high cost of continuing One Cent Coin production, but nothing has ever come of it.

The Telltale We ... Grading 


While grading coins is always quite subjective, there is a location on the Two Cent Piece that serves as a great starting place to determine the grade of your coin. On the obverse of the coin is a ribbon bearing the words "In God We Trust." This is about the highest point on that side of the coin, and it is extremely subject to wear. A "Full We" in which the word "We" is clear and relatively unworn is a good sign that you have a high quality coin!

Due to the Two Cent Piece's limited run, there are not many references available on the coin. Several have been produced, but they are often listed as unavailable on Amazon. Click Here to See What Reference Books are Available on Amazon right now. Even if there are no Two Cent Piece references available right now, The Official American Numismatic Association Grading Standards of United States Coins is a great reference book concerning the grading of the coin.

 

More Two Cent Pieces on eBay 

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"My Two Cents" 

Where Did the Expression Come From?

My two cents" and its longer version "put my two cents in" is an American expression, taken from the original British expression: to put in "my two pennies worth" or "my tuppence worth." It is usually used to lessen the impact of a contious statement or to show politeness and humility. The intent is to suggest that what you are about to say may be of limited value, but should be taken as worthwhile nonetheless. It is also used to indicate irony in expressing a strongly held opinion which may not be popular.

How did the saying come about? Various origins are suggested. Some say that the phrase originated in betting card games, such as poker in which you must make a small bet to begin play. So an analogy is made between entering the game with a small amount and giving an opinion in a conversation. A second possibility is that during the Nineteenth Century it cost two pence (two pennies or two cents) to mail a letter in the British postal system. The "two cents" was the lowest amount of postage that you could purchase to send your thoughts through the mail. Some also believe that the saying was derived from the even older British expression, "a penny for your thoughts."

The Value of "My Two Cents" on CafePress 

12-10-05 Greeting Card

Some folks' two cents are worth more than others. This cute greeting card is especially made for those who have (or think they have) opinions that are a little more worthy than those of the rest of us!

Price: 5.99 Buy Now

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Why the "Double" Eagle -- (Answer) 


It's a logical answer, really. The Ten Dollar Gold Piece was nicknamed the "Eagle" by the public. The Twenty Dollar Gold Piece was worth twice as much as an Eagle, so it became known as the "Double Eagle."

by ViolinStudent

Member American Numismatic AssociationAs Featured On EzineArticles
Arthur Haule began to collect coins on in 1963. He was thrilled to get two folders with the common dates of a Lincoln Penny collection for Christmas... (more)

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