Progress on a Two-Cent Set.
keets
Posts: 25,351 ✭✭✭✭✭
Even as a beginning collector in the 1960's I was intrigued by the obsolete denominations, especially 2/3/20 Cent pieces. It was hard for me to imagine them being used and I even enjoyed the designs. Fast forward some 40+ years and I developed a fondness for dark, chocolate brown coins and medals. I think that came from collecting Exonumia and liking the Bronzed Copper issues that the US Mint did such a fine job of producing. At some point, the two things melded and I considered collecting Two-Cent pieces.
Being the slow study that I am I thought about for awhile and finally a little over three years ago I developed a strategy. Instead of trying to have a set of high grade coins which seemed both more expensive and rather easy to assemble I decided to go another route, PCGS holdered AU58's, albeit with some conditions: try to match the color, no heavy verdigris and no black carbon spots if possible. The task has proven to be more difficult than I had imagined.
Consider the current AU58 PCGS pop's which were ever so slightly lower when I started:
1864 Small Motto --- 55.
1864 Large Motto --- 289.
1865 --- 167.
1866 --- 49.
1867 --- 55.
1868 --- 48.
1869 --- 39.
1870 --- 31.
1871 --- 69.
1872 --- 26.
I intentionally avoided the Small Motto and 1872, saving them for last on my list. It was smooth sailing at first and I was encouraged but things got difficult quickly. It didn't seem hard to find coins, just coins that were absent the verdigris, dark black spots, uneven color or just not attractive and eye appealing. After about two years I found myself stuck with two dates left, 1866 and 1870. I had found a nice 1870 at the Penny Ladies website but waited too long to buy it about 15 months ago, but finally found a nice example at another dealers site. It arrived a few days ago and matches the other coins well, I just have to send it for a re-holder and Secure picture.
That leaves the improbable 1866 as the most difficult to find. I think I have turned away from maybe six coins, none of them were right and I'm at the point where I am just going to be patient, the coin will find me one day. I have located the last two keys, 1864 Small Motto and 1872, both at the same dealer where I got the 1870 and both meeting my "parameters" for the set, but I am holding off since my searching tells me those dates will always be available somewhere. So I search for an 1866!! 
Below are a couple of the dates to show what I'm trying to find. If you enjoy these nice bronze coins and have some, please post pictures. They are often overlooked, but the shortness of the series and Varieties make it a worthy endeavor.
Al H.
Comments
Are you going to add the mule clash to your set?
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
whatever that is, no. I also have no interest in the 1867 DDO Variety, it seems like a lot to plop down on that sort of thing.
Nice coins Al.... I think I have 1 or 2 two cent pieces... If I remember (will have to check) they are 1865....and, also if my mind's picture is correct, more of a flat chocolate brown. Will try to check in the next day or two... Cheers, RickO
Great niche set. Good luck on your 1866 . . .
Drunner
2 centers in nice AU are a good deal, I think.
I like the series and wish you successful hunting in your quest.
I have a set less the '73 and any DD's. Not in the grade you're seeking overall, but I too, was interested in the odd denomination AND because it was the first coin struck for circulation that had the "IN GOD WE TRUST" motto.
Louis Armstrong
keets?
The nickel guy collects my series?
Short series and the fact that they are copper (and cheap?) is why that I started to collect 2 Cent Pieces.
Two threads about Two Cents pieces in one day, its my lucky day!...…………...WEEEEEE.
BTW,
I did collect 20 and 3 cent pieces along with 2 cent pieces but bailed out just to complete my set of 2 centers.
I just might dive back into 20 cent pieces just because.
I did collect 20 and 3 cent pieces along with 2 cent pieces.
I have never owned a 20 Cent Piece and will eventually buy "the right coin" for my Type Set. as for three cents, I will do the same with the Silvers but I think the 3CN is a very elegant design and I dabble with that issue.
that is a nice 1872, is it a Proof??
Back in 1979-80, the coin market was a mess. The stock market was in the tank. Money market accounts were paying 15 to 16 percent. Inflation was something close to that, and "investment experts" were telling people to buy "things" not the conventional investment instruments.
One of those "things" was coins. The counter guys at Stacks' were telling stories of people coming in with a pile of money and asking them sell them coins. It didn't matter what the coins were, and these people knew nothing about coins. They were buying them to "save the value of their nest egg." Speculators drove the coin market to outrageous levels. Some would-be dealer friends bought a 1910 Proof set for $14,000. When the market started to crash, they were lucky to get out at $11,000. The price eventually got down to $5,000.
As a collector I could not and would not pay such prices. To satisfy my collecting urges, I started a Two Cent Piece collection in EF. Back then, that met a strong "WE" in the motto. A veteran dealer told me that would be a tough collection to assemble. I found that was true. The 1864 Large Motto and 1865 were easy to find, but the others got harder as the dates progressed. I finally did complete the set with an 1872 in Brown Unc. The 1873 was beyond me because the speculators were buying those and had driven the prices to the moon.
I did come to one conclusion. Despite the fact that the Two Cent Piece became an "obsolete issue" fairly quickly, the coins got a lot of use. There were very few that were set aside when they were in VF or EF. They circulated long and hard until many of the survivors were taken down to Good and AG. Unlike some other odd denominations, like the Twenty Cent Piece, these coins had a level of popularity with the public.
I think there is something special about a set that has the same look, great job so far!
I did a set in low MS, sold it about 10 years ago. I never bought the 1873 either, too much $ for a set I did on a whim. I did have the 67 DDO, with verdigris in a straight graded slab.
Good read, I really enjoy when we post the background story and the strategy for collecting a particular series.
Hope the right coins find you soon, keets.
Admire your persistence hope you find what you are looking for.
I wonder how long the two cent pieces actually did continue to circulate. Based on the worn pieces I have seen I would guess they disappeared from active circulation just after 1900.
I enjoyed the story of your collection, thanks!
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
Thanks Al, actually it's a BS that does look proof like.