As a numismatist, I'm always interested in uncovering the value of rare coins. One of my favorites is the 1870 2 cent coin, which was produced by the United States Mint between 1864 and 1873.
It's an interesting piece with a significant amount of history behind it - and perhaps even more importantly, it has considerable worth to collectors today.
In this article, we'll take an in-depth look at the value of these coins and explore why they are so highly sought after in the collector's market.
History Of The 1870 2 Cent Coin
The 1870 two cent coin is a collectible of great importance to numismatists.
At the time of its production, it was an important piece in circulation for day-to-day transactions.
It has since become one of the most sought after coins by collectors due to its limited mintage and iconic design.
The obverse side of this coin features Lady Liberty facing left with her hair tied up in a bun.
She wears a classic cap that reads “2 CENTS” over her head and holds a bundle of wheat stalks in her right hand.
The reverse side contains a simple wreath surrounding the words “UNITED STATES OF AMERICA” wrapped around the edges.
It was minted from 1864-1873 at all three U.S Mints located in Philadelphia, San Francisco, and Carson City respectively.
Its rarity makes it highly desirable amongst those who value American coins as part of their collection or invest in them for potential gain on resale.
Today, there are only about 1 million examples remaining out of initial production numbers estimated between 5 to 8 million pieces; making it both valuable and difficult to find among seasoned collectors.
Rarity And Demand
Irony aside, one might think the 1870 2 cent coin is a common and ordinary piece of United States currency. In truth, this coin--minted only for six years from 1864 to 1873--is quite rare and highly coveted by numismatists across the globe. Here's why:
- It boasts an attractive design featuring George Washington on the obverse (front) side with “2 CENTS” inscribed in the center surrounded by 13 stars representing each original colony. On the reverse (back), there are two ears of wheat interspersed with arrows pointing downward symbolizing peace and plenty within the nation.
- Condition matters significantly when it comes to value; coins which remain uncirculated can be worth anywhere between $150-$200 while those that show signs of wear can still fetch around $50 or more depending on condition.
- There were relatively few produced compared to most other denominations minted during this same period making them especially hard-to-find pieces among collectors today.
- The scarcity drives up demand as these coins tend to bring higher prices at auction due to their rarity factor and overall collectability amongst U.S coin enthusiasts everywhere.
Given its limited mintage dates, eye-catching design elements, and desirability amongst collectors both novice and experienced alike, it's no wonder why the 1870 2 cent coin remains so sought after today despite having been out of circulation for nearly 150 years now!
Quality And Condition
The quality and condition of a cent coin dictates its value. While the overall grade is based on factors such as eye appeal, luster, strike, and other details, it is often determined by the amount of wear present.
Coins that have seen little or no circulation are described as uncirculated while those showing significant signs of wear from handling are known as circulated. Generally speaking, coins in higher grades will fetch higher prices than their counterparts with more wear.
When evaluating a cent for its grade there are certain areas to look at closely including but not limited to: the highest points of devices (raised sections), lettering, rims, surfaces and fields (flat areas). Any type of contact mark or scratch can lower the grade thus reducing the marketability and subsequently the price one should expect when selling.
It's important to remember that even if all characteristics appear perfect this doesn't necessarily guarantee a high grade; without original mint luster these coins may be considered imperfections leading them to fall into a lower category.
High-grade cents typically bring larger premiums due in part to scarcer availability so they tend to attract more attention from buyers willing to pay top dollar for exceptional pieces. In order for collectors and dealers alike to fully appreciate any given example it must be judged fairly using universal standards recognized throughout numismatic circles worldwide.
Pricing Variables
The quality and condition of a cent coin has a major influence on its value in the numismatic world. In order to accurately assess its worth, one must understand how pricing variables may affect it.
When evaluating a cent coin's monetary value, several factors should be taken into account. The age of the piece is an important aspect that can drive up or down its price depending on the rarity of the date and mintmark combination.
Additionally, the state of preservation of each side will also have considerable effect; surface elements such as scratches and abrasions are closely scrutinized by collectors when assessing worth.
Lastly, toning patterns can alter the perceived grade - often resulting in higher bids for coins with unusual hues or patinas.
Overall, many aspects come together to determine the ultimate value of any given cent piece. It is therefore essential that numismatists familiarize themselves with all relevant details before making an offer on a potential purchase. By carefully researching these pricing variables, keen buyers can avoid paying too much while sellers benefit from maximum return on investment.
Investing In 1870 2 Cent Coins
Investing in 1870 2 Cent coins can be a great way to diversify and expand your numismatic portfolio. These coins are attractive and rare, making them desirable investments for both experienced collectors as well as those just starting out.
The 1870 2 Cent coin is composed of copper-nickel and has a diameter of 19mm. It also features an obverse depicting Liberty with the date below her, surrounded by 13 stars representing the original colonies. The reverse of the coin displays “2 CENTS” within a wreath, along with UNITED STATES OF AMERICA at the top.
This particular denomination was only minted from 1864 – 1873 and can still be found in uncirculated condition today. With its rarity comes value, which makes it highly sought after in today’s market. Prices range between $25 - $35 depending on grade and condition; however, certain varieties have sold for much more than that due to their sheer scarcity.
For any collector looking to add some historical charm to their collection while potentially turning a profit down the line, investing in 1870 2 cent coins should definitely be considered. They offer unique designs that cannot be found anywhere else, along with potential financial gains if you find yourself lucky enough to come across an especially valuable variety or rare specimen.
Frequently Asked Questions
Is It Possible To Sell My 1870 2 Cent Coin?
As a numismatist, I can certainly attest to the fact that it is possible to sell your 1870 two-cent coin.
In this case, figuratively speaking, you hold in your hands a piece of history!
As such, its value depends on condition and rarity; however rest assured, having an 1870 two-cent coin means there's money to be made.
It may not amount to much - but every cent counts!
How Do I Authenticate My 1870 2 Cent Coin?
Authenticating coins is an important step in determining their value, especially for rare coins like the 1870 2 cent piece.
In order to authenticate this coin, a numismatist would evaluate it based on its metal content and design features. They'd also compare it with images of other known authentic examples of this particular denomination. The overall condition of the coin is another factor that can help determine whether or not it's genuine. Lastly, they may use various tests such as weighing and measuring to ensure accuracy.
What Is The Most Valuable 1870 2 Cent Coin?
It's believed that the most valuable 1870 2 cent coin is one that has been graded in excellent condition.
Numismatists have long sought out these coins due to their rarity and the potential for significant returns on investment.
However, determining a definitive value for such an item can be difficult as it depends heavily upon its grade, condition and provenance.
Although there is no single answer when it comes to assessing the exact worth of a particular 1870 two-cent piece, careful examination by experts will help determine its true market value.
Can I Buy 1870 2 Cent Coins Online?
As a numismatist, it's possible to purchase 1870 2 cent coins online.
Many reputable dealers have these coins available for sale on their websites, and they can also be found in auction houses and other locations that specialize in rare coins.
Prices will vary depending on the condition of the coin and its rarity, so it is important to do research before making a purchase.
Are There Any Counterfeit 1870 2 Cent Coins?
As a numismatist, I'm familiar with the fact that counterfeit 1870 2 cent coins exist.
These counterfeits are usually made using base metals like copper or brass and can be difficult to distinguish from authentic coins without expert knowledge.
It's important for collectors to take steps to avoid buying these copies, such as purchasing from reliable sources and getting them authenticated by experts before making any purchases.
Conclusion
It's an exciting time to be a numismatist, as the value of 1870 2 Cent coins has been steadily increasing over the years. In fact, some rare specimens can fetch prices in excess of $1,000.
As such, it pays to know how to authenticate and buy these coins online. I recommend that you research thoroughly before making any purchase - counterfeits abound!
Additionally, if you are lucky enough to own one of these coins already, it may be worth your while to get it authenticated by a professional numismatist. With the right knowledge and care, collecting 1870 2 Cent Coins could prove profitable for many collectors.