1871 Two-Cent Piece. Proof-66+ RD (PCGS). CAC.Here is an extraordinary condition rarity from the later years of the brief Proof two-cent series. Universally reflective in finish, the surfaces display vivid deep orange color that provides exceptional eye appeal. Tinges of pale olive-brown are evident, further confirming the originality of this coin. Fully struck and close to pristine, it is little wonder that this beautiful premium Gem numbers among the finest survivors graded by PCGS.Authorized by the Act of April 22, 1864, the two-cent piece was a wartime exigency brought about by the hoarding of gold and silver coinage in the Eastern United States during the Civil War. Once precious metal coinage disappeared from circulation early in the War (followed shortly thereafter by copper-nickel cents), a vacuum in domestic circulation resulted that was eventually filled in a haphazard manner by privately issued tokens, fractional paper currency and the like. By 1864 the Northern Congress was finally in a position to enact concrete measures to rectify the situation and at least return some form of official government coinage to widespread circulation. The aforementioned Act of April 22, 1864, altered the composition (from copper-nickel to bronze) and reduced the weight (4.67 grams to 3.11 grams) of the cent and also introduced the bronze two-cent piece. Circulation strike production of two-cent pieces was initially heavy, and the coins at first met with an eager reception in the coinage starved Northeast. With the end of the Civil War in 1865, however, the popularity of the two-cent piece quickly waned, the odd denomination of the coin causing many to question its usefulness in commercial channels.Circulation strike two-cent production fell off markedly in 1866, and yearly mintages continued to fall through 1872, when the final coins of this type were delivered for circulation. Interestingly, yearly Proof mintages climbed somewhat through 1872, indicating more of an increase in demand for silver and minor coin Proof sets than a specific interest in Proof two-cent pieces. Most numismatic sources estimate the mintage of the Proof 1871 at 960+ pieces, the exact mintage unknown as the Mint did not begin recording the number of Proof minor coins struck until the late 1870s. The 1871 is conditionally challenging and can be difficult to obtain any finer than Proof-64 RB. Indeed, the typical example that passes through our hands is a moderately to extensively toned Red and Brown with at least a few distracting carbon flecks or other blemishes. The present example is a full Red Gem with expertly preserved surfaces and abundant eye appeal. Sure to sell for a strong premium.PCGS# 3647. NGC ID: 22NH.
