1866-S $20 No Motto AU58 PCGS....

Description

1866-S Twenty Dollar Liberty, AU58
Rare Branch Mint No Motto Issue
Final Use of the Type One Reverse

1866-S $20 No Motto AU58 PCGS. The 1866-S No Motto double eagle is one of the most significant transitional issues in the Liberty Head series, representing the end of the Type One subseries of double eagles. In relation to its 120,000-piece mintage, this San Francisco issue has an exceptionally low survival rate -- it was simply unnoticed by the public and eschewed by collectors of the day. Doug Winter estimates as few as 175 to 225 examples survive, though that number may be slightly higher based on current population data. Virtually the entire production was released into circulation early in the year. Historically, the double eagle did not captivate collectors of the time, largely due to its high face value and the relative newness of the denomination, first struck in 1850. That lack of interest, combined with the economic barrier to collecting such large denomination gold coins, resulted in minimal contemporary preservation. Most Type One double eagles (like the 1866-S No Motto) experienced extensive circulation and attrition over the decades, further limiting the number of high-grade examples available today. Not until the aftermath of the 1933 Gold Recall did notable collectors, including Dr. Charles W. Green and Louis Eliasberg, Sr., recognize the potential in collecting double eagles as a means of legally holding gold.

This AU58 example exhibits the expected number of minor contact marks , with light abrasions seen on both sides and a short, thin mark on Liberty's jawline. Slight wear exists on the high points, yet this coin is sharply struck for the issue. Natural orange-gold color retains traces of original mint luster with areas of soft-gray accents, acquired during the coin's brief time in transport and circulation. PCGS reports only seven finer survivors. Population: 11 in 58, 7 finer (3/24).(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.

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