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The two-cent piece was produced by the Mint of the United States for circulation from 1864 to 1872 and for collectors in 1873. Designed by James B. Longacre, there were decreasing mintages each year, as other minor coins such as the nickel proved more popular.
The Coinage Act of 1864 was a United States federal law passed on April 22, 1864, which changed the composition of the one-cent coin and authorized the minting of the two-cent coin. The Director of the U.S. Mint developed the designs for these coins for final approval of the Secretary of the Treasury .
The widespread use of the tokens was a result of the scarcity of government-issued cents during the Civil War. Civil War tokens became illegal after the United States Congress passed a law on April 22, 1864, prohibiting the issue of any one or two-cent coins, tokens or devices for use as currency. On June 8, 1864, an additional law was passed ...
Seven distinct types of coin composition have been used over the past 200 years: three base coin alloys, two silver alloys, gold, and in recent years, platinum and palladium. The base metal coins were generally alloys of copper (for 2 cent coins and lower), and copper/nickel (for 3 and 5 cent coins). Copper/nickel composition is also used for ...
8. 1864 Indian Head Penny “L” on Ribbon — $161,000. ... Lincoln Cents minted between 1909 and 1958 are popular amongst collectors. The 1914-D coin is very rare, with just 1.2 million minted.
The penny, also known as the cent, is a coin in the United States representing one-hundredth of a dollar.It has been the lowest face-value physical unit of U.S. currency since the abolition of the half-cent in 1857 (the abstract mill, which has never been minted, equal to a tenth of a cent, continues to see limited use in the fields of taxation and finance).