1864 2C Small Motto, RD MS(PCGS#3581)

December 2020 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

1206

等级

MS65RD

价格

51,123

详细说明

Gem Mint State 1864 Small Motto Two-Cent Piece Full Red Impressive Condition Rarity 1864 Two-Cent Piece. FS-401. Small Motto. MS-65 RD (PCGS). OGH. 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-orange, with tinges of pale salmon-pink. Richly frosted and razor sharp, the reverse impression is ideally centered, although that on the obverse is drawn trivially to 2 o'clock, affecting only the border. A few faint carbon spots on the obverse are all that seem to preclude an even higher Gem Mint State 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 short-lived series. The 1864 is the most plentiful date in this series, and as a first year issue it is popular for type purposes. The Small Motto variety, however, 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. Provenance: From the Larry H. Miller Collection. PCGS Population: 21; 8 finer in this category (MS-66 RD finest). PCGS# 3581. NGC ID: 22N8. Click here for certification details from PCGS.