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The Collectors' Auction 2008
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Please Note: A 15% Buyers' Premium is added to the hammer price of all lots in this sale.

(About The Images)
1864 Small Motto. PCGS PF-64 BN. 1864 Small Motto. PCGS PF-64 BN.
Lot Title: 1864 Small Motto. PCGS PF-64 BN.
Description: With expectation that the new denomination would find favor with the public, the mint struck twenty million two cent coins for circulation in 1864, and an additional 100 coins (approximately) in proof format for collectors. Today, the two cent coin seems almost a curious oddity, although it is rather remarkable that Congress recently proposed resumption of the denomination and abolishment of the small cent in an effort to cut mint production costs. Fortunately, the lesson learned from 1864 is that we just don't need this coin in our pockets today! Indeed, there is no definitive explanation as to the origin of the two cent denomination, though it had been proposed sixty years earlier, and subsequent to that, rare patterns dated 1836 were made that bore similarity to earlier coins with a "small eagle" reverse.

It may be instructive to note that the two cent was the first coin to bear the motto "In God We Trust" (the answer to many a trivia night question), and this became the official motto of the United States in 1956. 1864 had seen public perception sway in favor of religious sentiment during the waning years of the Civil War, and the new coin was an expedient vehicle on which to apply the motto. Could this have been an opportunity too good to pass up by those who stumped passionately for the presence of "God" in the hands of daily activity? Perhaps, though your cataloger has a pet theory which may prove to be more practical. It could be that a need was perceived for a coin that, in combination with a three cent nickel, would produce a tidy and decimal-friendly five cent sum which would then ease the purchase of the three cent stamp that dominated postage rates. But there is no historical data to back that up, and it is a theory that is as good or as useless as any other.

A trifecta of exceptional proof varieties from the middle of the 1860s dominates the arena of truly rare proof coins from their era, including the 1864-L Indian Head cent, the 1867 "with rays" nickel, and the 1864 "small motto" two cent coin. Acquisition of all three can easily require a six-digit sum in total, but the purchase of any one of these is still sufficient to put any collection on the map. We are pleased to be able to offer an exceptional example of the latter coin in today's sale. Interested bidders may wish to know that this coin was purchased in the 1970s, and has been entirely off the market since that time. It is the most recent addition to the PCGS population at the grade of PR-64BN (as of July 2008). It is estimated that about twenty examples exist in all grades, and even those collectors not seriously interested in bidding are encouraged to experience this coin firsthand.

Despite the "brown" color designation, minor glimpses of mint red accentuate the leaf and date intricacies on the obverse, and a large portion of the reverse shows faded mint red color throughout, though predominantly in those recessed areas that are protected by raised devices. The patina is rich with warm, walnut tones that interplay with hints of turquoise iridescence on some of the highpoint details. From an aesthetic standpoint, this coin does not have the immediate impact of brighter proof coins, but that is hardly unexpected of a copper coin of this vintage.

As has been duly noted by many other numismatists, the scroll on which the all-important small motto appears is die doubled, with the extra lower edge on the center being actually visible without a glass. Noticeable doubling affects all of the letters in the motto as well as the arrowheads. What is seldom discussed is the fact that the lowest raised horizontal line in the shield is actually a shadow image of the line above it! There should be twenty-one raised horizontal lines for a "small motto" coin, business strike or otherwise, and the phantom lowest line would incorrectly count as number twenty-two on the proof. (As an aside, the "large motto" coins have only twenty raised horizontal lines.) The only doubling seen on the reverse derives from mild repunching of a few of the letters, and curious recutting of the right side of the ball dangling from the upper loop of the central figure "2". Moreover, examination of this exactitude reveals the exceptionally sharp nature of the strike, which would disclose this coin as a proof without even looking at the obverse.

This coin is spectacularly free of any handling marks or blemishes, and the only impediments to the grade are the presence of minor carbon, and perhaps darker than average color. Advance congratulations are offered to the bidder fortunate enough to take home this prize.
Low Estimate: $19,500.00
High Estimate: $22,000.00
Lot Status: Bidding has been closed for this lot.
Hammered Price: $25,000.00
Price Realized: $28,750.00
1864 Small Motto. PCGS PF-64 BN.
1864 Small Motto. PCGS PF-64 BN.

Price history for items of the same classification:
Lot #AuctionCurrent Bid or Hammer PriceDescription
368The Midwest Summer Sale 2014 on 07/18/2014$600.00
1864 Small Motto. PCGS XF-40.
Captain Green Collection. It is true that a couple of horizontal shield lines display slight merging of detail, but the striking characteristics of the "small motto" 2-cent readily accommodate this...
363The Collectors' Auction 2013 on 10/18/2013$1,550.00
1864 Small Motto MS-60 details/recolored.
Marshmallow Collection. There is no denying exceptionally sharp, pinpoint details throughout, almost as if this had been struck as a proof. The sharpness is just that precise! However, die-cracks...
515The Midwest Summer Sale on 07/26/2013$1,600.00
1864 Small Motto. NGC MS-64 BN.
Perfectly natural, brown patina yields suddenly to a jagged mint-red area at lower right on the obverse, and the entire coin displays tiny crumbles of greenish verdigris that attest to a very high...
302The Midwest Summer Sale 2012 on 07/27/2012$2,800.00
1864 Small Motto. NGC MS-65 BN.
A trivial dash of coppery mint-gold color touches the obverse bottom right rim, and elevates the lustrous effect on the reverse right side. Intriguing neon-blue toning dominates both sides, however,...
253The Collectors' Auction 2011 on 10/21/2011$2,700.00
1864 Small Motto. NGC MS-65 BN.
Deep magenta-brown hue fully dominates the entire obverse, relieved above the date by a swath of cobalt-jade. The reverse beams with bright magenta-rose tones and bears signs of cobalt iridescence. ...
279The Collectors' Auction 2010 on 10/15/2010$340.00
1864 Small Motto. F.
WE need not be present on ribbon for the "small motto" to be easily attributed, since the rest of the lettering makes attribution a snap. Half the horizontal shield lines remain strong, and the...
274The Collectors' Auction 2008 on 10/17/2008$550.00
1864 Small Motto. ANACS XF-40.
Fully original surfaces are richly tinted with walnut brown patina and are amazingly free of any defects or blemishes. The small motto on the ribbon is exceedingly sharp and easily readable, an...
277The Collectors' Auction 2008 on 10/17/2008$2,400.00
1864 Small Motto. PCGS MS-64 RB.
The "red/brown" designation accurately conveys the degree to which the original patina is comprised of about equal part mint red and mellow brown color. This is a purely original coin that suffers...
302The Collectors' Auction 2007 on 10/19/2007$450.00
1864 Small Motto. AU-50 Details, Dipped.
Struck a bit off center to the northeast on the obverse, though the reverse is perfectly centered. There is no way to determine for sure why this coin was dipped to a somewhat unnatural salmon color,...
304The Collectors' Auction 2007 on 10/19/2007$180.00
1864 Large Motto. MS-64 RB.
Though considered by some to be a pattern, almost anyone wishing to put together a complete collection of two-cent coins in any grade plans to obtain a Largel Motto 1864. Very boldly impressed,...
371The Midwest Summer Sale 2007 on 07/27/2007$370.00
1864 Small Motto. GD-4+ and 1872 GD-4+.
These two key-date issues are representative of the first denomination to portray our nation's "In God We Trust" motto. Each date depicts pleasing brown surfaces that are unharmed, but worn from...
282The Midwest Summer Sale 2006 on 07/21/2006$600.00
1864 Small Motto. NGC AU-53 BN.
Smooth mahogany brown surfaces with nearly full detail remaining. Excellent the way it is, but a copper expert may look to conserve this coin as some original dirt can be seen around the devices. ...
404The Midwest Winter Sale on 02/17/2006$360.00
1864 Small Motto. F-15.
This piece's evenly worn surfaces are complemented by its rich brown color. There are no detracting marks, blemishes, or spots to note on this scarce and desirable variety.

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