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Key Date United States Two Cent Coins

By Edited Aug 11, 2016 3 2

1870 United States Two Cent Coin

Key date United States two cent coins are a great investment for the savvy coin collector. These guys know what's going to go up in value. They're not trying to fill a set because the two cent run is a ten year coin with two very rare issues.

These coins are usually bought to complete a type set, or year set. Individual specimens in high grade are a great investment, as they are disappearing quickly, from the numismatic market.

Smart investors have entered the scene and bought up a bunch of high grade examples and the market is drying up. Auction sites spring up almost daily on line and the collector base as a whole has expanded due to these variables.

When there is a shortage of a product with a limited quantity, there will always be a demand. The demand for these coins is growing and the available product is all but gone.

Getting in now could be the last chance a lot of us may have to ever own some of the United States varieties that are disappearing so fast.

The chance here lies in the fact that this series is unknown to many people. There are not a lot of people that collect two cent coins.

Demand for these coins in high grade will come directly from the people building type sets. This coin was a type issued by the US mint between 1864 and 1873 and any year sets built for that decade will need a two cent piece to be complete.

Motto Comparison

Getting to the key dates for this series, we'll be starting with the first year 1864. Several dies were employed for the year.

Two distinct varieties exist for this year. One with a small motto and one with a large motto on the obverse of the coin. The small motto is the one we want. That's the first key in this series.

Choosing which one you have, will come down to the word "WE" within "In God We Trust" and the distance the T in trust is from the ribbon edge.

On the small motto example the letter T just about touches the ribbon and the large motto shows a small space between the letter and the ribbons fold.

After 1864 the amount of coins struck for the next five years was very large and no rarities were produced.

In 1870, however, the amount of coins produced shrunk to only 861,250 examples and it's here that a slow price increase starts to occur.

In 1871 it dropped again to 721,250 and then in 1872 again to 65,000. These diminishing numbers add to the value of surviving examples.

Until this year however all varieties can still be found in all grades on eBay and in coin stores. Paying the price will be the issue.

A final key date was produced when 1873 rolled around. There were two types struck again and this time they were both rarities, as 500 of the open three and 600 of the closed three ( in the date) is what mint records show.

The open three example is said to be a re-strike, but actually carries a higher price then the original. Both types, however, will cost a pretty penny or two - no pun intended.

Two Cent date comparison
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Comments

Nov 28, 2010 11:20pm
aguy
Wow - neat - I didn't even know these existed. Thumbs up from me!
Nov 28, 2010 11:36pm
dreamaker
Thanks for the visit and the Thumbs up. They are an unknown commodity within the market.
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