When it comes to valuable coins, many people overlook the smaller denominations, not realizing that some of them can be worth substantial amounts. One such example is the 1864 2 Cent Small Motto coin, a rare piece of American history that fetched a staggering $78,000 at an auction in 2018. Let’s take a closer look at what makes this coin so valuable and why it holds such historical significance.
The Birth of the 2 Cent Coin
The 2 cent coin was authorized by the U.S. government through legislation passed in April 1864. During this time, the nation was in the midst of the Civil War, and the Treasury Department sought to create a new coin that could be used for everyday transactions. The design of the coin was entrusted to James Pollock, the Director of the Mint at the time, with the approval of the Treasury Secretary.
What made this 2 cent piece so special was its design, which included the first-ever use of the motto “In GOD WE TRUST” on U.S. coinage. This addition reflected the nation’s growing sense of religious faith and patriotism during a period of national turmoil.
The 1864 2 Cent Small Motto: A Rare and Valuable Coin
The 1864 2 Cent coin came in two different varieties: the Small Motto and the Large Motto. The Small Motto, featured on the first coins struck, was later replaced with the Large Motto version. The Small Motto is much rarer and more valuable, making it highly sought after by collectors today.
This particular coin is made of copper (95%) with tin and zinc (5%), and it weighs 6.22 grams with a diameter of 23 millimeters. Its size and weight were perfect for use in commerce during the 1860s, and its design made it a popular currency among the people.
The Significance of the Motto: “In GOD WE TRUST”
One of the key features of the 1864 2 Cent coin is the inclusion of the motto “In GOD WE TRUST,” which marked its debut on U.S. coinage. The phrase was later incorporated into other denominations and became a staple of American currency. It was a symbol of hope and faith, particularly during the Civil War when the country was facing internal strife.
The decision to include this motto was a reflection of the sentiments of the time, and the 1864 2 Cent coin holds a special place in history for being the first to carry this iconic phrase.
The Auction Price: Why the 1864 2 Cent Small Motto is Worth $78,000
On August 16, 2018, the 1864 2 Cent Small Motto FS-401 coin, graded MS66 Red by the Professional Coin Grading Service (PCGS), was sold at auction for an astounding $78,000. This high price was not just due to the rarity of the Small Motto but also because of the exceptional preservation of the coin.
Coins in excellent condition, especially those graded at a high level like MS66, are rare and therefore command higher prices. The combination of historical significance, rarity, and exceptional preservation contributed to the coin’s impressive auction result.
Small Motto vs. Large Motto: What’s the Difference?
The difference between the Small Motto and Large Motto versions of the 1864 2 Cent coin lies in the size of the letters on the motto “In GOD WE TRUST.” The original design featured a Small Motto, which was later replaced by the Large Motto in subsequent mintages.
The Small Motto is considered the more desirable and valuable of the two, as fewer coins were made with this version. Collectors highly prize the Small Motto for its rarity and historical importance, while the Large Motto is more common and thus less valuable.
Conclusion: A Piece of History Worth Its Weight in Gold
The 1864 2 Cent Small Motto coin is a rare and valuable piece of U.S. coinage. Its historical significance, as the first coin to feature the motto “In GOD WE TRUST,” combined with its rarity and excellent preservation, makes it a treasure for collectors. If you’re fortunate enough to own one of these coins, you may be holding a valuable piece of American history that could be worth far more than its face value.
