The Planchet
A Publication of theIndianapolis Coin Club
September 2010 Issue 517

The next meeting will be Monday,
September 27RD 2010
The Meetings of the Indianapolis Coin Club are held
the fourth Monday of each month at theNorthside Knights of Columbus
2100 E. 71st Street in Indianapolis, Indiana.
The Meetings consist of a business session, an intermission, educational program,and a numismatic auction. Doors open at 6:00pm, meeting will begin at 7:00pm.

2010 Meeting Dates:
Sept. 27th
Oct. 25thNov. 22ndDecember Banquet

This month we welcome speakers from theLogansport Coin Club.

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COINS

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Collecting U.S. Coins Since 1952

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DOUBLE D. KOINSDONALD D. KING SR.
MemberThe 2009 Indianapolis Coin Club
Officers and Board Members
President
Jim Roehrdanz
Vice-President
Donn Wray
SecretaryVinton DoveTreasurer
Don KingEditor
Matt Dinger
Past President
Matt Dinger
Sgt-at-ArmsJim Warden
Board Member 2009-2010 Dave Reid
Board Member 2009-2010 Bob Bettcher
Board Member 2009-2010 Mark Eberhardt
Board Member 2010-2011 Jim Fuson
Board Member 2010-2011 Marty Moore
Board Member 2010-2011 Michael White$35.00 for a business card size
ad for 12 issues!
The Monthly Planchet is the official publication of the Indianapolis
Coin Club. It is published monthly in Indianapolis, Indiana. All
inquiries should be sent to ICC, P.O. Box 2897, Indianapolis, Indiana, 46206.

The 2 Cent Piece
The US Two Cent piece was first suggested in 1806, then again in 1807. The objections of Mint Director
Robert Patterson resulted in those attempts failing. In 1816 it was again suggested to no avail. Another attempt
was mounted in 1836 with likewise negative results. This effort was accompanied by a several pattern coins
struck in billon (90% copper/10% silver), and in copper. Surviving examples are identified as Judd 52 and Judd54.
In late 1862 and through 1863 the Mint was unable to meet demand for the new small copper-nickel cents due
to wartime hoarding and the lack of a five cent piece. In December 1863 Mint Director James Pollock suggested a 2 cent coin be produced, in bronze, in an attempt to supply much needed minor coinage for circulation.
Patterns were ordered struck that have been identified as Judd 305, 306, 308, 312, and 312a. These patterns
were produced in a variety of metals and designs. The bronze Judd 312 and 312a most closely resemble the design implemented in 1864. Treasury Secretary Chase requested that the motto of God Our Trust be changed toIn God We Trust. Congressional approval was included in the Mint Act of 1864, approved by Congress onApril 22, 1864.
Almost twenty million pieces were produced in 1864. Production began utilizing a prototype master hub that
had small lettering in the In God We Trust motto. The balance of 1864 production and all subsequent years
used larger motto lettering as well as exhibiting other less noticeable changes.
A total of 45,601,000 circulation strike, and 7,160 proof, two cent pieces were minted between 1864 and 1873.
Designed by James Barton Longacre the two cent piece met with initial popularity, but soon fell out of favor.
The two cent piece was the first United States coin to bear the motto In God We Trust. With Longacre’s deathin 1869 a new Chief Engraver, William Barber, took over the Mint’s design duties. Barber modified the MasterHub by reducing the size of the berries along with other small changes. The coins struck from 1870 to 1873
show these changes.
As the two cent production diminished, production was stopped in 1872. In 1873 only 600 Proof issues wereproduced. These 600 pieces are known at the Closed 3 variety. An additional 500 restrikes were produced atsome later date. The Open 3/Closed 3 variety seen on other U.S. coins differentiates the original 1873 strikesfrom the restrike two cent pieces.
Between 1871 and 1881 a total of 17,557,941 two cent pieces, both circulation strikes and proof strikes wereredeemed and melted by the mint. No records were kept by coin dates. This would mean that a total of
28,050,219 pieces survived redemption and destruction.
Author Myron M. Kliman estimates that the survival rate of proof strike two cent pieces at 62 ½ percent. Whichwould mean that of the 7,160 pieces produced 4,475 pieces remained in circulation.
Total circulation and proof production was 45,608,160.
Between 1871 and 1881 a total of 17,557,941 two cent pieces, both circulation strikes and proof strikes wereredeemed and melted by the mint. No records were kept by coin dates. This would mean that a total of
28,050,219 pieces survived redemption and destruction.
Author Myron M. Kliman estimates that the survival rate of proof strike two cent pieces at 62 ½ percent. Whichwould mean that of the 7,160 pieces produced 4,475 pieces remained in circulation.

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August 23, 2010 - Minutes of the Indianapolis Coin Club Meeting.

Open - The meeting was called to order at 7:00 PM by the Club President, Jim Roehrdanz. 34 people present signed theattendance book. We met at the Northside Knights of Columbus Hall, 2100 East 71st Street.

The Treasurer’s report and the Secretary’s report were read and accepted.
Visitors – Former Board member, Jim Held, was the “visitor.” Jim said his schedule had kept him from attending themeetings for the last few years, but he hoped to be regular in his attendance once again.

Old Business – The Putnam County Coin Show will be held on Saturday, Sept. 25, 2010.
New Business – The National Scout Jamboree will introduce a coin collecting merit badge, and the members were urged
to involve the Scouts in our Club.
President Roehrdanz announced that he had found a 2010 Cent in change. Shannon Spears said he had found nickels
and dimes, too. Joe Buchanon said the new dollars had been released by the Mint. A discussion followed.
The Educational Program – Club member and ANA Board member, Joe Boling, was the speaker for the evening. He
told of his adventures trying to find US currency in Europe in the 1960’s, and how many hard to find bills were sold bybanks for little more than face. He said he had great fun until at some point in the late 1970’s or early 1980’s the banks
finally stopped making the bills available to the general public. A person didn’t have to be a currency collector to appreciate his experiences, and everyone enjoyed his presentation.
After the Break, the 50/50 Drawing was run by Club Treasurer, Don King.
Auction – The Club’s monthly auction was conducted by Joe Boling as auctioneer, with Ron Jackson, Dave Daniels,
Bob Bettcher and Vinton Dove assisting. 17 sheets of auction lots were included and most of the lots sold. Two donatedlots were auctioned with $28.00 going to the Club.
The club adjourned at 9:04 PM.
Respectfully submitted, Vinton Dove, Secretary