In the numismatic world, certain coins captivate collectors and enthusiasts alike, not only for their historical significance but also for their remarkable auction performances. One such coin is the 1864 Small Motto Two-Cent Piece, which recently fetched an astounding $78,000 at auction, setting a new benchmark for this denomination.
The 1864 Small Motto Two-Cent Piece: A Brief Overview
The Two-Cent Piece holds a unique place in U.S. coinage history. Introduced in 1864 during the Civil War, it was the first U.S. coin to bear the inscription “In God We Trust.” The 1864 issue featured two distinct varieties: the Small Motto and the Large Motto. The Small Motto variant is particularly rare, making it highly sought after by collectors.
Auction Details and Record-Breaking Sale
In a recent auction held by Heritage Auctions, an 1864 Small Motto Two-Cent Piece in MS66 Red condition achieved a record-breaking sale price of $78,000. This sale underscores the coin’s rarity and the high demand among collectors for top-grade specimens.
Factors Contributing to the Coin’s Value
Several factors contributed to the impressive auction result:
- Rarity: The 1864 Small Motto variety had a limited mintage, and surviving specimens in mint condition are scarce.
- Condition: The coin’s MS66 Red grade indicates it is in near-perfect condition with original red luster, a significant determinant of its value.
- Historical Significance: As the first U.S. coin to feature “In God We Trust,” it holds considerable historical importance.
Understanding Coin Grading and Its Impact on Value
Coin grading assesses a coin’s condition and significantly influences its market value. The Sheldon Scale, ranging from 1 to 70, is commonly used, with higher numbers indicating better preservation. An MS66 grade denotes a coin with minimal imperfections and strong eye appeal. The “Red” designation refers to the coin’s original copper color, which can fade over time; maintaining this hue enhances the coin’s desirability.
Key Details of the 1864 Small Motto Two-Cent Piece
| Attribute | Details |
|---|---|
| Year of Issue | 1864 |
| Variety | Small Motto |
| Grade | MS66 Red |
| Auction House | Heritage Auctions |
| Sale Price | $78,000 |
| Historical Significance | First U.S. coin to feature “In God We Trust” |
The Significance of “In God We Trust”
The inclusion of “In God We Trust” on the Two-Cent Piece marked a pivotal moment in U.S. coinage. The motto was introduced during the Civil War, reflecting the nation’s reliance on divine guidance during tumultuous times. Its debut on the 1864 Two-Cent Piece set a precedent, leading to its adoption on other denominations in subsequent years.
Collecting Two-Cent Pieces: What Enthusiasts Should Know
For collectors interested in Two-Cent Pieces, especially the 1864 Small Motto variety, consider the following:
- Authentication: Ensure the coin is certified by reputable grading services such as PCGS or NGC.
- Condition: Higher-grade coins with original luster command premium prices.
- Market Trends: Stay informed about recent auction results and market demand to make informed purchasing decisions.
The $78,000 sale of the 1864 Small Motto Two-Cent Piece highlights the enduring allure of rare coins and the importance of historical context, condition, and rarity in determining value. For collectors and enthusiasts, this serves as a reminder of the treasures that can be found in numismatics.
FAQs
Why is the 1864 Small Motto Two-Cent Piece so valuable?
Its limited mintage, historical significance as the first coin to feature “In God We Trust,” and scarcity in high-grade conditions contribute to its high value.
What does “MS66 Red” mean in coin grading?
“MS66” denotes a Mint State coin with minimal imperfections, and “Red” indicates the coin retains its original copper color.
Where can I verify the authenticity of a Two-Cent Piece?
Reputable grading services like PCGS and NGC provide certification and authentication services for coins.
