1866-S $20 No Motto AU53 PCGS....

Description

Elusive 1866-S No Motto Double Eagle, AU53

1866-S $20 No Motto AU53 PCGS. The 1866-S double eagle is the last of the No Motto Liberty Head type. Both the No Motto and the With Motto were struck in 1866 at the San Francisco Mint, of which the former is by far the rarest. Paul Green, writing about the 1866-S twenty in an April 1, 2008 Numismatic News article titled "Branch Made Two Versions of Double Eagle," offers the following explanation underlying the two 1866 varieties:

"The addition of the motto (In God We Trust) came quickly at Philadelphia, but shipping the new dies to San Francisco took time. Moreover, there was pressure in San Francisco to produce double eagles. If the facility got a load of gold, it could not ask the gold owner to wait a few weeks for a new die."

The original mintage of the No Motto variety is controversial. Some numismatists put the figure at 12,000 pieces while others list it as 120,000 coins. Regardless of the correct figure, there are probably no more than 200 specimens known in all grades. PCGS/NGC population data indicate that the modal grade range is XF40 to AU50. The two services have certified a mere four Uncirculated examples, none finer than MS62.
Orange-gold surfaces display whispers of faded red on this AU53 offering, and retain traces of luster in the recessed areas. The design elements are typically struck, in that softness occurs in the centers of the first four obverse stars and in portions of Liberty's hair. The reverse is better struck, a characteristic of the issue, and the horizontal shield lines are quite sharp. This latter point is significant, as these lines nearly always show weakness on surviving examples. Distributed marks are visible over both sides, though they can probably be considered less severe than the heavy abrasions that are usually encountered. In summary, this piece exhibits above-average eye appeal and is sure to elicit spirited bids. Population: 7 in 53, 7 finer (5/09).(Registry values: N4719)

Coin Index Numbers: (NGC ID# 269W, PCGS# 8945, Greysheet# 9906)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View Certification Details from PCGS