1865 2C, RD MS64RD Certification #21396528, PCGS #3584

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Expert Comments

Charles Morgan

The 1865 Two-Cent Piece

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 Plain 5 and Fancy 5 Varieties

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 and Fancy 5 families, collectors often hunt for several popular sub-varieties, including:

Plain 5

Doubled Die Obverse: FS-101 (#38250) and FS-102 (#569397)
Repunched Date: FS-301 (#38253)
Die Clash: FS-401/901 (#569400)

Fancy 5

Repunched Date: FS-301 (#38259-#38261), FS-302 (#38262-#38264), FS-303 (#38265-38267).
Misplaced Date: FS-304 (#38268-38270), FS-305 (#569403-#569405).

* * *

PCGS #

3584

Designer

James Barton Longacre

Edge

Plain

Diameter

23.00 millimeters

Weight

6.22 grams

Mintage

13640000

Metal

Bronze

Pop Higher

241

Pop Lower

Region

The United States of America

Price Guide

PCGS Population

Auctions - PCGS Graded

Auctions - NGC Graded

Rarity and Survival Estimates Learn More

Grades	Survival Estimate The Survival Estimate represents an average of one or more experts opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.	Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.	Relative Rarity by Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.	Relative Rarity by Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
65 or Better	1500	R-4.8	10 / 11	10 / 11
All Grades	1500	R-4.8	10 / 11	10 / 11
60 or Better	500	R-6.0	10 / 11	10 / 11

Survival Estimate The Survival Estimate represents an average of one or more experts opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.
65 or Better	1500
All Grades	1500
60 or Better	500

Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.
65 or Better	R-4.8
All Grades	R-4.8
60 or Better	R-6.0

Relative Rarity by Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.
65 or Better	10 / 11
All Grades	10 / 11
60 or Better	10 / 11

Relative Rarity by Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
65 or Better	10 / 11
All Grades	10 / 11
60 or Better	10 / 11

Condition Census Learn More

Pos	Grade	Pedigree and History
1	PCGS MS67RD	Legend Rare Coin Auctions, October 20, 2022, Lot 11 - $17,625; "The Rupert Collection" (PCGS Set Registry). Fancy 5. Die cracks above the left side of the ribbon. Diagonal mark above 2. Die line from the left base of the 2.
1	PCGS MS67RD	Legend Rare Coin Auctions, October 20, 2022, Lot 10 - $21,150. Plain 5. On the reverse, a diagonal die crack starts over the "D" of UNITED, continues to the top of the "E", and terminates at the top of the "T".
1	PCGS MS67RD	As PCGS MS67RD. Heritage Auctions, January 13, 2005, Lot 5541 – $20,125. Rattler. As PCGS MS67RD #26825254. “The Wineguy Collection,” Heritage Auctions, January 9, 2014, Lot 5149 – $25,850. Fancy 5. Two tiny flecks of carbon on the left side of the shield’s chief. Two carbon spots on the reverse that book-end the left side of the wreath.
4	PCGS MS66+RD	Fancy 5. Two major die cracks at the rightside of the ribbon. Reverse die crack connects UNITED to STATES.
4	PCGS MS66+RD	Dell Loy Hansen; "The D.L. Hansen Civil War Set" (PCGS Set Registry). Plain 5. Diagonal die crack through date. On the reverse, a diagonal crack starts at denticles and runs through "ST" of STATES. Diagonal planchet void to the left of 2.

#1 PCGS MS67RD

Legend Rare Coin Auctions, October 20, 2022, Lot 11 - $17,625; "The Rupert Collection" (PCGS Set Registry). Fancy 5. Die cracks above the left side of the ribbon. Diagonal mark above 2. Die line from the left base of the 2.

#1 PCGS MS67RD

Legend Rare Coin Auctions, October 20, 2022, Lot 10 - $21,150. Plain 5. On the reverse, a diagonal die crack starts over the "D" of UNITED, continues to the top of the "E", and terminates at the top of the "T".

#1 PCGS MS67RD

As PCGS MS67RD. Heritage Auctions, January 13, 2005, Lot 5541 – $20,125. Rattler. As PCGS MS67RD #26825254. “The Wineguy Collection,” Heritage Auctions, January 9, 2014, Lot 5149 – $25,850. Fancy 5. Two tiny flecks of carbon on the left side of the shield’s chief. Two carbon spots on the reverse that book-end the left side of the wreath.

#4 PCGS MS66+RD

Fancy 5. Two major die cracks at the rightside of the ribbon. Reverse die crack connects UNITED to STATES.

#4 PCGS MS66+RD

Dell Loy Hansen; "The D.L. Hansen Civil War Set" (PCGS Set Registry). Plain 5. Diagonal die crack through date. On the reverse, a diagonal crack starts at denticles and runs through "ST" of STATES. Diagonal planchet void to the left of 2.