Vic's Picks
2c SHIELD 1864-73


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Set Details
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Item Description:
Grade: NGC PF 66 RB
Owner: EZ_E
 
Winning Set: Vic's Picks
Date Added: 3/6/2006
Research: Currently not available

Owner's Description

An $1850 purchase from michael in 2005.<br /><br />************************************<br />UNITED STATES TWO CENTS<br /> (1864-1873)<br />************************************<br />Proof Mintage: 500<br /><br />Designer: James Barton Longacre<br /><br />Diameter: ±23 millimeters<br /><br />Metal content:<br />Copper - 95%<br />Other - 5%<br /><br />Weight: ±96 grains (±6.2 grams)<br /><br />The United States Two Cents is an unusual denomination that first appeared in 1864, during a period of coin shortages caused by the Civil War. Attempts to introduce the Two Cents denomination occurred in 1806 and 1836, but both efforts failed due to technical considerations. In 1863, Mint officials revived the idea of a Two Cents Coin simultaneous with their plans to reduce the weight and metal content of the bulky, Copper-Nickel Indian Head Cent. Apparently, the Mint noticed the success of the privately issued Civil War tokens of One Cent size (on thinner, pure copper planchets) and realized that the public was now ready to accept what were essentially underweight coppers. In 1864, the Mint effectively destroyed the market for Civil War tokens by issuing almost forty million Indian Cents on copper planchets and nearly twenty million of the new Two Cents (at exactly double the weight of the One Cent coins).<br /><br />The obverse of the Two Cents denomination features a shield with a pair of arrows crossed behind, dangles of leaves and berries on both sides, a scroll with "IN GOD WE TRUST" above, and the date below. The reverse shows the denomination "2 CENTS" within a wreath, all surrounded by the legend "UNITED STATES OF AMERICA".<br /><br />Two Cents were issued from 1864 to 1873 and mintages declined steadily each year. Proof examples are known of all years. <br /><br />~~~~~~~~~~~~~~~~~<br /><br />Proof two cent pieces are usually brown and ugly.<br />The proof 1864 and 1865 coins are usually dull and<br />generally unappealling. To find, lets say, a proof 1865<br />with deep mirrors, minimal dullness and with great color would be very rare! Just take a look at them population reports.<br /><br />Actually the colored coins are rarer and more<br />beautiful than all the so called red graded coins that,<br />for the most part, are not full red at all but called<br />red and are anywhere from 90% to 95% full red.<br /><br />The red designation is slipping and now a coin can be<br />just under 95% full red and get the full red<br />designation. <br /><br />I would say that half of the red graded two cent<br />pieces in proof are close to red coins that have been<br />helped conserved to bring out more red coloration to<br />get into full red graded holders.<br /><br />Usually the proofs are a dirt brown color and have a wood<br />grain look or they have a technically high grade but<br />look like dark walnut coloration. yuk yuk!<br />To find a true gem proof that is wonderfully colored<br />and deep mirrors and cameoed is rare. <br /><br />Also, the most common proofs of the two cent series are<br />the late 1860's. The last date is a proof only date so<br />this puts demand on these proof coins and yet they are<br />the most common coins in proof. But, since they are<br />proof only dates, they command a premium. Yet, the 1864<br />and 65 dates are many times rarer in proof than this<br />1873 date.<br /><br />The key rarity and one of the rarest proofs of<br />the 19th century is the 1864 small motto proof. I think<br />only a handful are known but since the two centers in<br />proof are a forgotten unpopular sleeper series no one<br />knows or cares.<br /><br />Check out the following link for images to see how the light angle affects the appearance of the coin:<br /><br />http://boards.collectors-society.com/showflat.php?Cat=0&Number=1361978&an=0&page=0#Post1361978<br /><br />lovingly submitted,<br /><br />michael

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