1865 2C Plain 5, RB
1866 2C, RB

1865 2C Fancy 5, RB (Regular Strike)

Series: Shield Two Cents 1864-1872

PCGS MS66+RB

PCGS MS66+RB

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DATE COMPARISON

DATE COMPARISON

PCGS MS66RB

PCGS MS66RB

PCGS #:
38257
Designer:
James Barton Longacre
Edge:
Plain
Diameter:
23.00 millimeters
Weight:
6.22 grams
Mintage:
13,640,000
Mint:
Philadelphia
Metal:
Bronze
Auction Record:
$6,300 • MS67RB • 03-02-2025 • Heritage Auctions

Condition Census What Is This?

Pos Grade Image Pedigree and History
1 PCGS MS67RB

Heritage Auctions, April 29, 2018, Lot 3110 - $6,600; Stack's Bowers, November 14, 2019, Lot 1157 - $6,000. Fancy 5.
2 PCGS MS66+RB

Fancy 5.
2 PCGS MS66+RB

Heritage Auctions, April 29, 2018, Lot 3109 - $3,120; Stack's Bowers, June 14, 2023, Lot 3024 - $2,280. Fancy 5. 
#1 PCGS MS67RB

Heritage Auctions, April 29, 2018, Lot 3110 - $6,600; Stack's Bowers, November 14, 2019, Lot 1157 - $6,000. Fancy 5.
#2 PCGS MS66+RB

Fancy 5.
#2 PCGS MS66+RB

Heritage Auctions, April 29, 2018, Lot 3109 - $3,120; Stack's Bowers, June 14, 2023, Lot 3024 - $2,280. Fancy 5. 
Ron Guth:

Here's how to tell the difference between the Plain 5 and Fancy 5 1865 Two Cent pieces:

Plain 5: the top edge of the 5 appears flat or slightly curved

Fancy 5: the right half of the top edge of the 5 dips dramatically, creating a distinctive "flip" to the point of the 5.

Sources and/or recommended reading:
"Getting Your Two Cents Worth" by Kevin Flynn
"Two Cent Piece - An 1864 Attribution Guide" by Frank Leone
"Cherrypickers' Guide, Fifth Edition, Volume I" by Bill Fivaz and J.T. Stanton

Charles Morgan:

The 1865 Two-Cent Piece, Fancy 5

First struck in 1864 to alleviate the nationwide coin shortage caused by the Civil War, the Two-Cent Piece ultimately struggled to gain long-term traction. The coin, identical in diameter to the deprecated half-cent but slightly heavier, was conceived as an instrument to increase the circulation of small change in the Northeast and Midwest. For a few years, the coin fulfilled its purpose; however, a glut of base-metal issues—specifically the Indian Head Cent, the Three-Cent Nickel, and the Shield Nickel five-cent coin—eventually crowded out the "double cent."

This eventuality was not yet apparent in 1865. For the second year of the series, the Philadelphia Mint struck 13,640,000 pieces, representing a 31% decline from the inaugural year. This downward trend accelerated in 1866, with mintage falling by another 77% before stabilizing briefly over the following two years.

The Fancy 5 Variety

For completionists, the 1865 Two-Cent Piece offers two major varieties: the Plain 5 (PCGS #38247) and the Fancy 5 (PCGS #38256), along with several Cherrypickers' Guide varieties. These descriptors refer specifically to the style of the numeral "5" in the date.

The Plain 5 is the primary date style for the 1865 issue and is characterized by a straight, horizontal crossbar at the top of the digit. In contrast to the Fancy 5—which features a distinctively curved or "flipped" flag—the Plain 5 presents a more utilitarian, geometric profile. Within the Plain 5 family, collectors often hunt for several popular sub-varieties, including:

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