LOT #3322 |
Sold on Feb 24, 2022 for: Sign-in
or Join (free & quick)
1866-S $20 No Motto AU55 NGC....
Click the image to load the highest resolution version.
Sold on Feb 24, 2022 for:
$50,400.00
Bid Source: Internet bidder
Description
1866-S Liberty Double Eagle, AU55
Elusive No Motto Variant
Final Type One Issue
1866-S $20 No Motto AU55 NGC. The design of the double eagle
was modified in 1866 to include the motto IN GOD WE TRUST on the
reverse, creating the popular Type Two design type. Reverse dies of
the new design reached the San Francisco Mint in March of 1866. As
always, the San Francisco facility was tasked with producing a
large number of double eagles in 1866. Anxious to begin coinage
operations, and unsure when the new dies would be ready, the San
Francisco coiners struck a small mintage of about 120,000 double
eagles of the old Type One design before the new dies arrived. The
No Motto coins were released into circulation without fanfare and
attracted little numismatic notice, a scenario similar to that
experienced by the even more famous 1861-S Paquet double eagle five
years earlier.The coins circulated widely for many years before numismatic interest in large denomination gold coins developed in the 1930s. By then, the 1866-S No Motto twenties had been circulating for decades, and attrition had taken a severe toll on the small initial mintage. Today, approximately 175-225 examples of the 1866-S No Motto double eagle can be accounted for, making the issue scarce-to-rare in all grades. The 1866-S No Motto is a prime condition rarity in high grade, and only a handful of specimens have been certified in Mint State. An early auction appearance of the 1866-S No Motto was lot 827 of the Dr. Charles W. Green Collection (B. Max Mehl, 4/1949):
"1866 S. Without motto. Extremely fine with considerable mint luster. Light hairlines on the obverse. The coin shows but very slight evidence of circulation. Extremely rare. Far more so than is generally recognized. This identical specimen is from my Sale of Mr. Philpott's Collection, November, 1945, where Dr. Green obtained this coin at a cost of $210.00. But Dr. Green was willing to pay up to $525.00 for it, as he recognized its great rarity. Even the great Atwater Collection did not have a specimen. Catalogs at $200.00 which I think is far too low for this rarity."
The lot realized $315, confirming Mehl's estimate of the coin's value at the time. Recent sales include the AU55 NGC example in lot 5640 of the Denver Signature (Heritage, 8/2006), which realized $97,750.
The coin offered here is an attractive Choice AU specimen that shows just a touch of wear on the well-detailed design elements. The pleasing orange-gold surfaces are surprisingly lightly abraded for a large gold coin that spent some time in circulation. Traces of original mint luster remain in sheltered areas. This coin will be a welcome addition to a fine collection of Type One double eagles. Census: 23 in 55, 17 finer (1/22).(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.
Auction Info
2022 February 24 - 27 Long Beach Expo US Coins Signature® Auction #1342 (go to Auction Home page)
Auction Dates
February, 2022
24th-27th
Thursday-Sunday
Bids + Registered Phone Bidders: 20
Lot Tracking Activity: N/A
Page Views: 251
Buyer's Premium per Lot:
20% of the successful bid per lot.
Shipping, Taxes, Terms and Bidding
Terms and Conditions | Bidding Guidelines and Bid Increments | Glossary of Terms | US & World Coin Grading Tutorial
Important information concerning Sales Tax and Resale Certificates. Learn More
Terms and Conditions | Bidding Guidelines and Bid Increments | Glossary of Terms | US & World Coin Grading Tutorial