Two Cent Pieces — The First "In God We Trust" Coin & Key Dates
1864–1873 • America's First Motto Coin • The Small Motto Rarity
Two Cent Piece Value Guide
Key Dates and Typical Values by Grade
| Date / Type | Mintage | Good (G-4) | XF-40 | MS-65 |
|---|---|---|---|---|
| 1864 Large Motto (common) | ~19,822,500 total | $25 | $90 | $500+ |
| 1864 Small Motto — Key Variety | ~10,000 survivors est. | $250+ | $800+ | $4,100+ |
| 1865–1871 (common dates) | Varies | $25 | $100 | $600+ |
| 1872 | Low | $400+ | $1,000+ | $5,000+ |
| 1873 — Proof Only, Final Year | Low | $1,500 – $3,000+ | Rare | |
Origins of the Two Cent Piece
The Two Cent Piece was authorized on April 22, 1864 to address a genuine wartime coin shortage — Civil War-era hoarding had pulled most silver and gold coinage out of everyday circulation, leaving merchants and the public desperately short of small change. Struck in bronze rather than the precious or semi-precious metals used elsewhere in American coinage at the time, the new coin offered a practical, inflation-resistant denomination that could actually stay in circulation. Designed by Chief Engraver James B. Longacre — the same engraver responsible for the Shield Nickel, Three Cent Nickel, and Three Cent Silver piece — the coin features a shield on the obverse, symbolizing national unity and defense, paired with a simple wreath encircling the numeral "2" on the reverse.
The Two Cent Piece wasn't entirely new territory — Congress had actually attempted to introduce a two-cent coin twice before, in 1806 and 1836, but both efforts failed to gain traction. The urgent wartime coin shortage of the 1860s, combined with the new postal rate for local mail set at two cents, finally provided the practical justification needed for the denomination to succeed, if only briefly.
"In God We Trust" — A Historic First
The 1864 Two Cent Piece holds a permanent place in American history as the first United States coin ever struck bearing the motto "IN GOD WE TRUST." The push for a religious motto traced back to a letter written by Reverend M.R. Watkinson of Ridleyville, Pennsylvania, to Treasury Secretary Salmon P. Chase during the anxious early years of the Civil War, urging that God's name be acknowledged on American coinage. Chase was receptive, and after the Mint tested pattern coins with phrasings including "God Our Trust," the final wording — drawn in part from the fourth stanza of "The Star-Spangled Banner" ("And this be our motto: 'In God is our trust'") — was approved and placed on the new Two Cent Piece.
The motto proved enduring far beyond its original coin. By 1866 it had been extended to the five-cent nickel, quarter, half dollar, dollar, and multiple gold denominations. Congress didn't formally declare "In God We Trust" the national motto of the United States until 1956, and it wasn't added to paper currency until 1957 — meaning the humble, short-lived Two Cent Piece predates the motto's appearance on the dollar bill by nearly a century.
Small Motto and Large Motto — The 1864 Varieties
The very first 1864 Two Cent Pieces were struck using prototype dies bearing a smaller, narrower rendering of the motto — what collectors now call the "Small Motto" variety. Mint officials, dissatisfied with the strike quality this smaller lettering produced, had Longacre revise the design partway through 1864, enlarging the motto for a cleaner, more legible result. This "Large Motto" version became the standard for the remainder of the series' run through 1873.
Distinguishing the two varieties requires close examination: on the Small Motto, the "O" in "GOD" appears notably rounder and sits higher than the "D" beside it, the stem of the laurel leaf beneath "GOD" remains visible, and the word "WE" sits further from the ribbon's edge. On the Large Motto, that leaf stem is hidden, and "WE" sits closer to the ribbon. Because the Small Motto dies were used only briefly before being replaced, survivors are dramatically scarcer — PCGS estimates a total surviving population of only about 10,000 across all grades, with just 30 known in MS-65 or better, making it worth roughly ten times the price of a comparable Large Motto example.
Key Dates and Major Rarities
1864 Small Motto
1873 — Proof Only, Final Year
1872
1864 Large Motto
1867 & 1869 Doubled Die Obverse
1864 Large Motto Clashed with Indian Head Cent
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Frequently Asked Questions
Why is the Two Cent Piece historically significant?
The 1864 Two Cent Piece was the first United States coin ever struck bearing the motto "IN GOD WE TRUST." The motto originated from a letter written by Reverend M.R. Watkinson to Treasury Secretary Salmon P. Chase during the Civil War, with the actual phrasing drawn in part from a lyric in "The Star-Spangled Banner." The motto spread to other denominations by 1866, but wasn't officially declared the U.S. national motto until 1956, and didn't appear on paper currency until 1957 — meaning this humble, short-lived coin predates the motto's appearance on dollar bills by nearly a century.
What is the difference between Small Motto and Large Motto?
The very first 1864 Two Cent Pieces used prototype dies with a smaller, narrower rendering of the motto. Dissatisfied with the resulting strike quality, the Mint had the design revised partway through 1864, enlarging the motto for better legibility — creating the "Large Motto" that became the standard for the rest of the series. The Small Motto is distinguished by a rounder, higher "O" in "GOD," a visible laurel leaf stem beneath the word, and the word "WE" positioned further from the ribbon's edge.
Why is the 1864 Small Motto so much more valuable than the Large Motto?
Because the Small Motto dies were only used briefly before being replaced, far fewer examples were struck compared to the Large Motto that followed. PCGS estimates a total surviving population of only about 10,000 Small Motto examples across all grades, with just 30 known in MS-65 or better — making it worth roughly ten times the value of a comparable Large Motto coin from the same year.
Why was the Two Cent Piece discontinued?
By the early 1870s, economic conditions had stabilized considerably from the wartime coin shortage that originally justified the denomination, and public demand for two-cent coins had collapsed accordingly. The Coinage Act of 1873 — the same sweeping law that discontinued the half dime and the Three Cent Silver piece, and created the Trade Dollar — formally ended the Two Cent Piece, with only proof coins struck for collectors in that final year.
Was a two-cent coin ever tried before 1864?
Yes — Congress made two earlier attempts to introduce a two-cent denomination, in 1806 and again in 1836, but neither effort gained traction. It took the urgent wartime coin shortage of the 1860s, combined with the new two-cent local postal rate, to finally provide the practical justification the denomination needed to succeed, even if only for a brief nine-year run.
What is a good entry point for collecting Two Cent Pieces?
Common-date 1864 Large Motto and mid-series (1865–1871) examples in circulated condition offer an accessible entry point, typically available for $25–$100. From there, most collectors pursue the historically significant 1864 Small Motto as a milestone acquisition before working toward the genuine key dates — 1872 and the proof-only 1873 — that define a truly complete Two Cent Piece collection.
With over 400 high-resolution images and detailed explanations, you'll learn to spot rare and valuable coins still found in U.S. circulation today.
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