In 1806 and again in 1836, proposals went before Congress to authorize coinage of two cent pieces. Both proposals recommended coinage made from "billion" -- a copper and silver alloy. Counterfeiting concerns derailed both early bills.

In 1863 the U.S. Mint once again proposed production of the new denomination made in French bronze. This time the proposal succeeded and two cent pieces became legal tender.

James Barton Longacre engraved the dies. The obverse design included "IN GOD WE TRUST," making this the first U.S. coin to bear the motto. Some of the earliest business strikes and proofs were created from the April 1864 prototype die on which the motto displayed small letters. Later business strikes and proof coins were made from dies with a large letter motto.

In 1865 production included two different styles of date: business strikes (including 1865/4) may have a "plain" or "fancy" 5; proof issues have a "fancy" 5.

A slight design change is noted when William Barber became engraver at the U.S. Mint after Longacre's death in 1869.

During the post-Civil War years, demand for two cent pieces waned, perhaps due in part to introduction of the nickel in 1866. The two cent piece was abolished by two pieces of legislation (1871 and 1873). Large quantities of half cents, large cents and two cents were melted in 1873, creating raw material for Mint production of small cents between 1873 and 1876.

Large scale melting of copper coins probably accounts for scarcity of 1872 business issues, which are far rarer than proof specimens. The final production of two cent pieces in 1873 -- proof only issues -- was limited to an estimated 1100 pieces.

Major varieties include:

• 1864 Small Motto. First "T" in TRUST almost touches ribbon fold.
• 1865. "Fancy" 5.
• 1867 Double Motto. Doubled obverse die.
• 1869/8. Issues presents a die crack from left of date continuing through date.
• 1871 Double Motto. Doubled die obverse.
• 1872 Business strike characteristics. Date slants down with the 2 nearer the border than 1. Obverse rim break at 8:30, reverse cracks at "UNIT" and from ribbon to final A.

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Breen, Walter, Walter Breen's Complete Encyclopedia of U.S. and Colonial Coins, New York, 1987.
Yoeman, R.S., A Guide Book of United States Coins, Racine, WI, 1996.