In the world of coin collecting, a rare and valuable discovery has recently caught the attention of collectors and investors alike. The 1866 No Motto Double Eagle coin, valued at over $1 million, has made headlines as one of the most exceptional finds in numismatics. This rare coin, minted during a pivotal period in U.S. history, has captivated the numismatic community, shedding light on the fascinating world of rare coins and their worth.
What is the 1866 No Motto Double Eagle?
The 1866 No Motto Double Eagle is a $20 gold coin that was first introduced in 1849, after the California Gold Rush brought an abundance of gold into the U.S. Mint. Designed by James B. Longacre, the coin’s obverse features Lady Liberty, who is wearing a coronet inscribed with the word “LIBERTY.” The reverse showcases a heraldic eagle, a symbol of the nation’s strength. In 1866, the U.S. Mint added the motto “IN GOD WE TRUST” to the reverse to reflect the nation’s sentiments following the Civil War. However, a small number of these coins were minted without the motto, making them extremely rare.
The Rarity and Value of the 1866 No Motto Double Eagle
The 1866 No Motto Double Eagle is considered one of the most valuable coins in U.S. numismatics due to its rarity. Only a small number were ever produced, and many were lost or melted down, leaving only a handful of surviving specimens. This makes the 1866 No Motto Double Eagle a highly sought-after coin for collectors.
In November 2024, an unrecorded 1866 No Motto Double Eagle was discovered and appraised at over $1 million. This coin, minted in San Francisco, is one of the few remaining examples from the original mintage of approximately 120,000 coins. Experts agree that this discovery adds significant value to the historical record of U.S. coinage and increases the demand for these rare coins.
Key Features of the 1866 No Motto Double Eagle
| Feature | Details |
|---|---|
| Designer | James B. Longacre |
| Composition | 90% Gold, 10% Copper |
| Weight | 33.44 grams |
| Diameter | 34 mm |
| Edge | Reeded |
| Mint Marks | None (Philadelphia), ‘S’ (San Francisco) |
| Mintage | Approximately 120,000 (San Francisco) |
The 1866 No Motto Double Eagle in the Market
The 1866 No Motto Double Eagle coin has commanded high prices at auctions, showing the increasing interest in rare and historical coins. Some notable sales include:
- 2021: A coin graded AU-50 by PCGS sold for $114,000.
- 2023: A coin graded AU-55 sold for $1.44 million at a Stack’s Bowers Galleries auction.
These prices demonstrate how much collectors are willing to pay for coins that hold historical significance and rarity.
Why is the 1866 No Motto Double Eagle So Valuable?
Several factors contribute to the high value of the 1866 No Motto Double Eagle coin:
- Rarity: Very few of these coins have survived, making them extremely rare.
- Historical Significance: The absence of the “IN GOD WE TRUST” motto makes this coin unique, representing a significant moment in U.S. history.
- Condition: Coins that are in better condition, such as AU-55 or higher, are worth more.
- Market Demand: The strong interest from collectors and investors drives up the price of these coins.
Conclusion
The discovery of the 1866 No Motto Double Eagle coin, valued at over $1 million, highlights the enduring appeal of rare coins in the numismatic community. It reminds us of the rich history contained within each coin and the exciting potential rewards of collecting and investing in these timeless treasures. Whether you’re a seasoned collector or a newcomer, the world of rare coins offers many opportunities to discover hidden gems.
FAQ’s
What is the value of the 1866 No Motto Double Eagle coin?
The coin is valued at over $1 million due to its rarity and historical significance.
How many 1866 No Motto Double Eagles were minted?
Approximately 120,000 coins were minted, but many were lost or melted down.
What makes the 1866 No Motto Double Eagle so valuable?
The coin is rare, has historical significance, and coins in superior condition can fetch very high prices at auctions.