1864 Two-Cent Piece. FS-401. Small Motto. MS-65 RD (PCGS). OGH--First Generation.A phenomenal condition rarity to represent this scarce hub variety of the first year 1864 two-cent piece. Fully struck with charming deep rose color, both sides also offer a smooth, satiny texture. This odd denomination made its debut in 1864 at a time when gold and silver coinage had long since been absent from circulation in the Eastern and Midwestern states due to the economic turmoil and uncertainty brought about by the Civil War. Struck in bronze, the two-cent piece was not subject to such hoarding and, as such, initially proved popular in commercial channels. Mintages were correspondingly high in 1864 and 1865, but with the end of the Civil War in the latter year, production fell off rapidly through the series end in 1873. The 1864 is the most plentiful date in this series, and as a first year issue it is understandably popular for type purposes. On the other hand, the issue contains an important rarity in the Small Motto variety. The first few Proofs, as well as a limited number of circulation strikes (Walter Breen, 1988, says only "a few thousand") were struck from an obverse die on which the letters in the motto IN GOD WE TRUST are small. This variety was quickly replaced by a new hub on which these letters are noticeably larger. Scarce in circulated grades, the 1864 Small Motto is very scarce in Mint State with either a BN or RB color designation. Full Red coins are very rare, particularly in the finest Mint State grades, as here. An important and highly desirable piece that is sure to fetch a strong bid.PCGS Population: 21; 6 finer in this category (MS-66 RD finest).