1864 Two-Cent Piece (First Year Large Motto)
The 1864 Two-Cent Piece holds the distinction of being the first United States coin to bear the motto "IN GOD WE TRUST," a phrase that would eventually become the national motto and appear on all U.S. coins and currency. The 1864 issue, produced in two varieties (Small Motto and Large Motto), is historically significant far beyond its modest face value.
Creation of the Two-Cent Piece
The Two-Cent Piece emerged from Civil War-era economic chaos. By 1862-1863, coinage had essentially disappeared from circulation as citizens hoarded silver and gold in the face of wartime uncertainty. The small change vacuum was temporarily filled by postage stamps used as currency and by privately issued "Civil War Tokens" struck by merchants.
To address this crisis, Congress authorized the Two-Cent Piece in April 1864, choosing bronze (88% copper, 12% tin and zinc) rather than silver for the new denomination. This made it resistant to hoarding by those seeking precious metal content and provided a practical solution for small-change needs.
"IN GOD WE TRUST": A Wartime Innovation
The inclusion of a religious motto on U.S. coinage was not inevitable. Earlier coins bore no such inscription. During the Civil War, Salmon Chase, Secretary of the Treasury, received numerous letters from citizens urging that God be acknowledged on the nation's coinage during the national crisis.
Chase's correspondence with James Pollock (director of the Mint) led to the design of the Two-Cent Piece with the motto. The phrase chosen was initially "GOD OUR TRUST" before being revised to "IN GOD WE TRUST" for the final design.
The 1864 Two-Cent Piece thus launched a tradition that spread to all U.S. coinage within decades and eventually became law as the national motto in 1956.
Small Motto vs. Large Motto
The 1864 Two-Cent Piece was produced in two varieties, distinguishable by the size of the motto:
| Feature | Small Motto | Large Motto |
|---|---|---|
| Production | Early 1864 | Later 1864 |
| WE | "WE" is narrow | "WE" is wider |
| GOD | Letters smaller | Letters larger |
| Relative scarcity | Scarcer | More common |
| Values | Higher at all grades | Lower at all grades |
The Large Motto is the far more commonly encountered variety. Mintage figures for the specific varieties are not definitively known, but the Small Motto is generally considered to be approximately 3-5x scarcer than the Large Motto in most grades.
Design Description
James B. Longacre designed the Two-Cent Piece:
Obverse: A large shield with arrows at the base, a national banner crossing the shield, and the motto "IN GOD WE TRUST" on a scroll above. "UNITED STATES OF AMERICA" surrounds.
Reverse: The denomination "2 CENTS" within a wreath of wheat stalks, tied at the bottom with a ribbon.
The shield design is bold and patriotic, appropriate for a war-era coin intended to restore public confidence in the monetary system.
Condition and Values (Large Motto 1864)
| Grade | Approximate Value |
|---|---|
| MS-66 | $2,500 to $6,000 |
| MS-65 | $700 to $1,500 |
| MS-64 | $250 to $550 |
| MS-63 | $100 to $200 |
| MS-62 | $60 to $100 |
| MS-61 | $45 to $75 |
| AU-58 | $40 to $65 |
| AU-50 to AU-55 | $30 to $55 |
| EF-45 | $25 to $45 |
| VF-20 to EF-40 | $20 to $35 |
| Fine to VF-15 | $15 to $28 |
| Good to Fine | $12 to $22 |
The 1864 Small Motto commands approximately 2-4x these values in comparable grades.
Red, Red-Brown, and Brown Designations
Bronze and copper coins in Uncirculated condition are further categorized by the extent of original red color (mint luster):
RD (Red): At least 95% original red surface color; most valuable
RB (Red-Brown): 5-94% red remaining; intermediate value
BN (Brown): Less than 5% red; lowest value within Uncirculated
A genuine MS-65 RD Two-Cent Piece shows full, blazing original copper-red luster. These are genuinely beautiful coins that look like they were struck yesterday. The Brown examples often have attractive toning but lack the visual drama of original red surfaces.
The Series' Brief Life
The Two-Cent Piece was produced only from 1864 to 1873, making it one of the shorter-lived U.S. coin series. As silver and gold coinage returned to circulation after the Civil War, the need for bronze small change diminished. The series is collectible by date with relatively modest individual values and 10 business strike dates, making a complete set achievable for collectors at various price points.
Historical Significance for Collectors
The phrase that first appeared on the 1864 Two-Cent Piece now appears on every U.S. coin and on paper currency as well. Owning a well-preserved Large Motto example is owning the first physical expression of a national motto, struck during America's most existential domestic crisis. Few coins pack that much historical meaning into such a modest package.
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