The two-cent piece was produced by the Mint of the United States for circulation from 1864 to 1872 and for collectors in 1873. Designed by James B. Longacre, there were decreasing mintages each year, as other minor coins such as the nickel proved more popular. All federal coinage vanished from circulation in 1861 and 1862, during the economic turmoil of the American Civil War.
About Two-cent piece (United States) in brief
The two-cent piece was produced by the Mint of the United States for circulation from 1864 to 1872 and for collectors in 1873. Designed by James B. Longacre, there were decreasing mintages each year, as other minor coins such as the nickel proved more popular. It was abolished by the mint Act of 1873, but remains inexpensive by the standards of 19th-century American coinage. All federal coinage vanished from circulation in 1861 and 1862, during the economic turmoil of the American Civil War. The gap was filled by, among other things, private token issues, sometimes in copper-nickel approximating the size of the cent, but often thinner pieces in bronze. In 1863, Mint Director James Pollock noted that people expect a full value in their gold and silver coins, they merely want the inferior money for convenience in making exact payments. Pollock also proposed a bronze piece of the same size as a nickel, but wanted to eliminate all metal as a coinage metal; all dies and machinery were destroyed. On December 8, 1863, Treasury Secretary P. Salmon P. Chase wrote to Treasury Secretary Salmon P Chase, proposing a bronze cent and two- cent piece, enclosing the pattern of the two-Cent piece. On March 2, 1864, a two- Cent piece was most likely proposed in order to get as much small change into circulation in as short a time as possible, as the Mint could strike as many as possible. According to numismatist Neil Caratting, the most likely design was that he had prepared for the Mint and enclosing it in a pattern of two-others as easily as a two cent piece.
The piece was to be again of billon, and provision for the coin was included in early drafts of the Mint Act of1837, but the proposal was dropped when Peale was able to show that the coin could be easily counterfeited. A two-CENT piece had been proposed in 1806 by Connecticut Senator Uriah Tracy, along with a twenty-cent pieces or \”double dime\”. The piece’s place in circulation was usurped by other non-precious metal coins which Congress subsequently authorized, the three-cent Piece and the nickel. The two- cents were abolished in 1872; large quantities were redeemed by the government and melted. The coins were used until 1859, when they were replaced by the Indian Head cent. These coins were unpopular, and in 1857, after receiving congressional approval, the Mint began issuing the Flying Eagle cent, of the diameter of the later Lincoln cent, but somewhat thicker and made of copper-Nickel alloy. These pieces readily circulated, and although the design did not strike well, and were commonly used until the coins were replaced in 1859. Although the design didn’t strike well and was replaced with the Indian head cent in 1858, the coins are still commonly used today. Although initially popular in the absence of other federal Coinage, the pieces were popular with collectors.
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This page is based on the article Two-cent piece (United States) published in Wikipedia (as of Nov. 10, 2020) and was automatically summarized using artificial intelligence.
