2 Cent Piece Collection

I've been staring into my Red Book for hours now, searching for the right thing for me. I think I have finally come to a decision. Do you think collecting a 2 cent piece set with every year in MS-63 is a good idea? I certainly think it is a great idea for a couple of reasons. One, it is a short lived coin, minting from 1864 to 1872 (1873 proof) which makes it easier to collect and easier on my wallet. Two, they are fascinating coins and will must likely will never be made again (same for a lot of other coins though as well such as 3 cent, 20 cent, $3.) Three, in a high (decent) grade of MS-63 it is still affordable. I think this is a great idea, what do you think!?

 

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a buddy of mine inherited a nice set of these coins- it is a pretty cool set to have. Appreciation will happen at a glacial pace though (which may be a good thing). Still though if you can find nice RB unc $.o2 coins you will have something wonderful when it is complete.

 

http://cgi.ebay.com/ws/eBayISAPI.dl...y=149924&_trksid=p5197.c0.m619#ht_2037wt_1322
How about this one to start it off?

 

the problem with ebay is that you are relying on photos- a copper expert will probably see this thread and give you good advice- there are some very strong copper experts here.

 

I second this—that 1), there are copper experts here whose opinions you should solicit and 2), relying on ebay photos can be a problem. You might want to check out other auction sites such as Heritage and Teletrade; both have consistently better photos.

One concern I have about the ebay coin you linked to is that it's graded as Red Brown but there's very little red left. You'd essentially be paying for a Brown coin in a Red Brown holder. If you're considering putting together a 2 cent piece collection, you might want to establish up front whether you would like to assemble a Red, a Red Brown or a Brown set. Keep in mind that the coins are going to change toward brown over time. NGC guarantees its copper grades for 10 years but that's provided you happen to know when the coin was slabbed.

As was also mentioned, they will appreciate at a glacial pace, especially MS63's, since they are low end MS.

 

Keep in mind, too, to look for carbon spots, esp. in bad ebay photos. There is one in the dentils at 1:30 on the one in your link. Carbon spots lessen the eye appeal of copper and 63's usually have them.

I thought you'd appreciate this: a member of the Grand Rapids (MI) coin club a couple of years ago presented his 2 cent collection to the club. At the time it was the 1st ranked set in the PCGS registry (he has since lost that title). Every piece was MS65 or 66 Red, no spots on any. It really was a set to behold!

He decided on the 2 cent piece for the same reason you're considering: 15 coins comprise the entire series.

 

If you're going for just the MS, then sounds good! Proofs? That's going to take a lot more time, but if you're up to the challenge...

 

I think it's such a good idea I had it myself a few years ago!!
Most of mine are 63's but some 4's work too.
Good luck as I think you'll love the set.

 

Thanks everyone for the advise, especially oval_man. Red book lists the common 2 cent pieces (1865,1866,1867) as $175 in MS-63. My concern is that if I'm going to go for all 64's or 65's Red, the price will explode and will cut into at least 3/4 of my entire collection and I really don't want that. If 1864 Small motto is 1,800 in MS-63, I have no idea what it would be in MS-65 red. If the collection is all 63's, it might just be managiable over the course of two maybe three years, but 65 Reds are out of the picture. I don't know how much higher of a price 64's are from 63's but if they are not much higher, Ill go for 64s. As of now however ill stick with 63 and try for red/red brown.

 

A 2-cent collection is nice.
I liked it because it is short meaning that you won't spend the rest of your life trying to complete it.
(I'll never try an SL set; too many coins.)
And there are no "killer" coins although the 1864/Small Motto and the 1872 are a bit pricy in MS-63.
(A SLQ set has that nasty 1916 which is a stopper for most people.)

With my 2-cent set I didn't shoot for MS across the board.
I just wanted good looking coins. (I define "good looking" as XF or better.)
But I get at least one MS-65 in all of my sets, just to show what the Mint had in mind.
And that's how my set ended up.
The two keys are both XF-40.
Three of the common dates are MS (two MS-65BN; one MS-64BN). The 1865 still has a bunch of Minr red.
All the others are AU-something.

I have a terrible time doing this, but let's see if I can get my NGC Registry Set banner up:
http://coins.www.collectors-society.com/registry/coins/MySets_Listing.aspx?PeopleSetID=89448

Well, I didn't get the banner up but that link goes to my set.
And there are images for all coins; click on the "eye".

 

That seems like a great, more affordable idea too! Maybe ill get most in MS and 1864 small and 1872 not in Ms

 

I think its a great idea, especailly since its not a set subject to hype or popularity so you can feel much more comfortable assembling it at your leisure, pick out just the right pieces. On the flip side, they have steady numismatic demand so you can be assured of slow, steady price appreciation on your investment.

+1 from me!

Chris

Edit: I believe there is a specialist book on two cent pieces. I would really consider getting that book if you wish to do this. I usually find specialist books to easily pay for themselves, either through better knowledge for purchasing, or simply increased enjoyment.

 

http://www.wizardcoinsupply.com/product/two-cent-piece-and-varieties.html
Is this the book you are describing?

 

That's not the one I have.
Here's mine:
http://www.bobpaulrarecoins.com/product/getting-your-two-cents-worth-coin-book/

 

There are three specialist books on the varieties of the two cent piece. The Kliman book was the first and the Flynn book is the most recent. The Flynn book is probably the way to go if you just want one of them. Each approached the series differently and there is no cross reference between the three books. The Flynn book deals more with varieties and the Kliman book more with identifying the dies and the different die pairings. The Kliman book is quite old is not complete and has never been updated. The two cent series is ripe for more work on die identification and die marriage identification.

 

Great post Conder, I am glad an expert in those references helped the OP out. Like I said, I don't think anything has ever regretted buying a good specialized reference book.

Chris

 

Some good advice offered in the posts. I'll echo the posts about available two cent reference books. Kevin Flynn will be offering a new book on the two's very shortly. I use both the Kliman and the current Flynn book. It is an interesting series of coins produced during an interesting period of US history. Here are two links, the first to my MS set and the second to an information piece I wrote.

http://www.numissociety.com/album.php?albumid=9

http://www.numissociety.com/content.php?162-The-US-Two-Cent-Piece

 

If you think it is a good idea then it is a very good idea. I hope you will post the coins here as you get them. Avoid 2 cent coins with spots.

You know that the Liberty nickel series may also have what you are looking for. It only has about 30 phili coins and only two 1912 mint mark coins. This is another series where you should avoid coins with spots.

 

Affordable is a relative term. PCGS pricing shows a MS63 set in BN @ $6,260; in RB @ $7,290 and in RD @ $11,315. I thought I was doing good with the EF-AU set I put together. Even that was a challenge to get the right ones.

 

It might be awhile before I even start with this, ill have to buy the 1864 small and 1872 first. I could always trade a coin or two for it if I had to. Also I have this big lot of silver that is just sitting around, think it is worth it to sell all of it for a couple of two cent pieces? (or toward the one of the two key dates?) One more question, is 1873 only proof?