The 1864 two cent piece has two varieties, small and large. The small motto was a prototype. Mint chief engraver James B. Longacre modified it for better strike quality, creating the large motto.
Many hobbyists, even experienced collectors, may not know how to tell the difference between the two varieties.
There are two key differences: The “We” in “God We Trust” is further from the rim of the ribbon than the large date “We.” But more importantly, the small motto has a stem on the leaf. The large motto doesn’t have that stem and the “We” is closer to the rim of the ribbon.
Values are decidedly different, with small motto worth more than $200 in Good 4 as opposed to $25 for the large motto. Values accelerate to $800 in XF40 for small motto and $90 for large motto. Small motto values are in the thousands in mint state.
The U.S. Mint discontinued the two-cent piece (1864–1873) maintaining it was temporary, wartime coinage. Also, the nickel was introduced in 1866 and became more popular as a denomination.
The key dates of the short-lived series include 1873 proof, 600-1,100 minted; the 1872, 65,000 minted; and the 1864 Small Motto variety, no official mintage data available.
The history of the motto is special in numismatics, making this coin a popular collectible.
“In God We Trust” became the U.S. national motto in 1956, but its roots lie in Civil War-era religious revivals, enjoining the deity to help the country endure the bloodbath that was to occur in the wake of war.
Petitions started in 1861, and popular opinion was loud enough to engage the U.S. government.
Rev. M.R. Watkinson of Pennsylvania wrote to Treasury Secretary Salmon P. Chase, requesting that God be recognized on U.S. coins as a means for divine protection and guidance.
Here are excerpts of Watkinson’s letter.
“Dear Sir: You are about to submit your annual report to the Congress respecting the affairs of the Union. … What if our Republic of ours should be shattered? Would not the antiquaries of succeeding centuries rightly reason from our past that we were a heathen nation? … This would make a beautiful coin, to which no possible citizen could object.”
Chase agreed, and “In God We Trust” was adopted by the U.S.. Mint with its first appearance on the two cent coin in 1864.
Although Watkinson is credited for inspiring the motto, it actually was drawn from the 4th stanza of the Star-Spangled Banner lyrics.
Then conquer we must, when our cause it is just,
And this be our motto – “In God is our trust,”
And the star-spangled banner in triumph shall wave
O’er the land of the free and the home of the brave.
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