1873 Two-Cent Piece (Proof Only)

By 1873, the two-cent piece had fallen out of favor with the public in the years following the Civil War, and no coins were struck for general circulation that year. Instead, the Mint produced a small proof-only run for collectors as the series was phased out, making the 1873 issue the final date of the two-cent denomination.

Because it was never meant for commerce, the 1873 two-cent piece is a distinctly numismatic issue, closer in spirit to a modern proof set than to the workhorse coinage of earlier years, and it survives only in relatively small numbers compared to circulating dates.

The two-cent piece had been declining in popularity through the late 1860s and early 1870s as nickel five-cent pieces and other small coinage filled the need for minor change. The Coinage Act of 1873, sometimes called the 'Crime of '73' for its effect on silver coinage, also formally abolished the two-cent piece along with the silver three-cent piece and half dime.

Since no more two-cent pieces were needed in circulation, the Mint struck only proof examples in 1873 specifically for sale to collectors who wanted a complete date set, a practice increasingly common for outgoing or low-demand denominations in this period.

Two die varieties exist based on the shape of the 3 in the date: a 'Closed 3,' where the two loops of the numeral nearly touch, and an 'Open 3,' where the loops are more clearly separated.

Like all two-cent pieces, the design features a shield with crossed arrows below and a ribbon reading 'IN GOD WE TRUST' on the obverse, with '2 CENTS' in a wheat wreath on the reverse. Proof coins have sharp, squared-off rims and mirror-like, reflective fields rather than the softer look of circulated business strikes.

The date variety is determined by close inspection of the numeral 3: a Closed 3 shows the top and bottom curves nearly meeting, while an Open 3 shows a clear gap between them. Because the coin was never struck for circulation, any 1873 two-cent piece should show proof characteristics; a coin with dull, worn surfaces and no mirror fields should be examined carefully, as circulated-looking 1873 pieces are unusual for this proof-only issue.

As a proof-only, final-year issue, the 1873 two-cent piece commands a solid premium over ordinary circulation-strike dates in the series and is considered essential for anyone assembling a complete type or date set. The rarer Closed 3 variety typically brings a higher price than the more available Open 3.

Condition still matters considerably, since proof coins are judged on the quality of their mirror surfaces and the absence of hairlines or handling marks, with problem-free, high-grade examples bringing meaningfully more than impaired or lower-grade pieces.