A few thousand of the first circulation strikes, as well as a handful of proof coins, came from a prototype die with smaller letters in the motto than all other 1864 pieces.
Although specimens of the two-cent piece, being of base metal, were not set aside for testing by the annual Assay Commission, Congress did order that internal checks be done at the Mint as to their composition and weight.

The two-cent piece was at first a success, circulating freely once enough of them were issued to be recognized by the public.
It initially circulated because of the wartime coin shortage, which was alleviated by the new cent and two-cent piece.
 Although Pollock reported hoarding of cents in his June 1864 report, he did not thereafter mention such activities.
Silver coins still did not circulate in much of the nation, and the new coins (joined by the three- and five-cent pieces of copper-nickel, first struck in 1865 and 1866 respectively) answered the need for small change.
In October 1864, he reported that the demand for both coins had been unprecedented and that every effort was being made to increase production; in his report the next June, he called the two-cent piece "a most convenient and popular coin".
The Act of March 3, 1865, that provided for the three-cent nickel piece, reduced the legal tender limit of the bronze coins to four cents, while making the newly authorized coin acceptable up to sixty cents.

After the large mintage of just under twenty million in the first year, according to numismatist Q. David Bowers, "enthusiasm and public acceptance waned".
After the war, bank demand for the denomination dropped, while demand for the new five-cent nickel increased; mintages of the two-cent piece were smaller every year.
 Lange notes, "it was evident by the end of the 1860s that its coinage was no longer necessary".
According to Carothers, "the coinage of a 2 cent piece was unnecessary.
 While it was popular at first because of the great public demand for metallic small change, it was a superfluous denomination, and its circulation waned rapidly after the 5 cent nickel coin was introduced."

Beginning in 1867, the new Mint Director, Henry Linderman, (Pollock had resigned) began to advocate for Congress to authorize redemption of surplus copper and bronze coinage.
 Although the nickel could be redeemed in lots (permission granted in its authorizing act), there was no provision for the government to buy back the smaller coins, and with more being issued every year, there were too many small-value coins.
Treasury officials insisted the government could not accept the pieces beyond their legal tender limits, even if what was being done was exchanging them for other currency.
 Under Linderman, the Mint, without any legal authority, purchased $360,000 in bronze coins using three-cent pieces and nickels.
 Still, millions of two-cent pieces accumulated in the hands of newspaper and transit companies, postmasters, and others who took small payments from the public, and there were complaints to Congress.
 With the advent of the Grant administration, Pollock returned to office and opposed the redemption proposals.
 Although he included Pollock's opinions as part of his annual report, Treasury Secretary George S. Boutwell asked Congress to pass a redemption act, and it did so on March 3, 1871, allowing for the redemption of minor coinage in lots of not less than $20.
It also allowed the Treasury Secretary to discontinue the coinage of any piece redeemed in large numbers.
 Pursuant to the new law, the Mint in 1871 and 1872 redeemed over 37,000,000 small coins, including two-cent pieces.

In the postwar years, Congress and the Treasury considered a revision of the coinage laws, as the act of 1837 was deemed outdated.
 Retention of the two-cent piece was never seriously considered in the debates over what became the Mint Act of 1873; the only question concerning the minor coinage was whether to make the cent from bronze or copper-nickel, and how large to make the three-cent nickel.
 With those pieces remaining unchanged, the bill passed on F
A few thousand of the first circulation strikes, as well as a handful of proof coins, came from a prototype die with smaller letters in the motto than all other 1864 pieces. Although specimens of the two-cent piece, being of base metal, were not set aside for testing by the annual Assay Commission, Congress did order that internal checks be done at the Mint as to their composition and weight.
The two-cent piece was at first a success, circulating freely once enough of them were issued to be recognized by the public. It initially circulated because of the wartime coin shortage, which was alleviated by the new cent and two-cent piece.  Although Pollock reported hoarding of cents in his June 1864 report, he did not thereafter mention such activities. Silver coins still did not circulate in much of the nation, and the new coins (joined by the three- and five-cent pieces of copper-nickel, first struck in 1865 and 1866 respectively) answered the need for small change. In October 1864, he reported that the demand for both coins had been unprecedented and that every effort was being made to increase production; in his report the next June, he called the two-cent piece "a most convenient and popular coin". The Act of March 3, 1865, that provided for the three-cent nickel piece, reduced the legal tender limit of the bronze coins to four cents, while making the newly authorized coin acceptable up to sixty cents.
After the large mintage of just under twenty million in the first year, according to numismatist Q. David Bowers, "enthusiasm and public acceptance waned". After the war, bank demand for the denomination dropped, while demand for the new five-cent nickel increased; mintages of the two-cent piece were smaller every year.  Lange notes, "it was evident by the end of the 1860s that its coinage was no longer necessary". According to Carothers, "the coinage of a 2 cent piece was unnecessary.  While it was popular at first because of the great public demand for metallic small change, it was a superfluous denomination, and its circulation waned rapidly after the 5 cent nickel coin was introduced."
Beginning in 1867, the new Mint Director, Henry Linderman, (Pollock had resigned) began to advocate for Congress to authorize redemption of surplus copper and bronze coinage.  Although the nickel could be redeemed in lots (permission granted in its authorizing act), there was no provision for the government to buy back the smaller coins, and with more being issued every year, there were too many small-value coins. Treasury officials insisted the government could not accept the pieces beyond their legal tender limits, even if what was being done was exchanging them for other currency.  Under Linderman, the Mint, without any legal authority, purchased $360,000 in bronze coins using three-cent pieces and nickels.  Still, millions of two-cent pieces accumulated in the hands of newspaper and transit companies, postmasters, and others who took small payments from the public, and there were complaints to Congress.  With the advent of the Grant administration, Pollock returned to office and opposed the redemption proposals.  Although he included Pollock's opinions as part of his annual report, Treasury Secretary George S. Boutwell asked Congress to pass a redemption act, and it did so on March 3, 1871, allowing for the redemption of minor coinage in lots of not less than $20. It also allowed the Treasury Secretary to discontinue the coinage of any piece redeemed in large numbers.  Pursuant to the new law, the Mint in 1871 and 1872 redeemed over 37,000,000 small coins, including two-cent pieces.
In the postwar years, Congress and the Treasury considered a revision of the coinage laws, as the act of 1837 was deemed outdated.  Retention of the two-cent piece was never seriously considered in the debates over what became the Mint Act of 1873; the only question concerning the minor coinage was whether to make the cent from bronze or copper-nickel, and how large to make the three-cent nickel.  With those pieces remaining unchanged, the bill passed on F
Two-cent piece (United States)