Vital Stats.

Year/ Mint Mark	Circulation Strikes
1863	Pattern
1864	19,847,500
1865	13,640,000
1866	3,177,000
1867	2,938,750
1868	2,803,750
1869	1,546,500
1870	861,250
1871	721,250
1872	65,000
1873	Proofs 600

U.S. Two Cent Coin 1864 - 1873

The two cent piece was authorized by Congress on April 22, 1864 by the Coinage Act. Starved for coinage of any kind during the Civil War, Americans readily embraced the two cent piece when it first appearanced in 1864. Hoarders and speculators joined by millions of frightened Americans had set aside every coin they could get causing a shortage. Mint officials reasoned that a two cent coin might help releave the shortage. Acceptance and mintage levels both fell off dramatically after the war as coins that had been hoarded during the war began to reappear in circulation.

Typical Two Cent Coin

The two cent coin hold two destinctions, it was the first U.S. coin to have the motto IN GOD WE TRUST on it. The second destinction was: It was and is the least successful coin in U.S. history. Production of the coin started out with nearly 20 million coins and over a ten year period, dropped to 600 proofs. This was a gage of its popularity. While all two-cent coins are of the same basic type, several die varieties exist. The most important variation is the "Small Motto" and "Large Motto" varieties of 1864 as seen it the example above.

The same law that eliminated the two cent coin in 1873 also did away with the half dime and the silver three-cent piece. During the late 1970s discussion of reviving the two cent coin was heard, but nothing came of it.