ON HOLD - $5.00 - 1866 Motto, NGC MS61 CAC

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sold out

ON HOLD - $5.00 - 1866 Motto, NGC MS61 CAC

17,500.00

Date…….1866 Motto
Grade…….NGC MS61 CAC
PCGS Price Guide.….…....20000
Population (PCGS).……….1/2
Population (NGC).…….…..3/1
Population (CAC).……..…..2/1
Serial Number…….4907474-002
PCGS Lookup Number…….8311

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VERY RARE UNCIRCULATED 1866 MOTTO HALF EAGLE WITH CAC APPROVAL

The 1866 half eagle is numismatically significant as the first With Motto half eagle from Philadelphia. There are fewer than 100 known from an original mintage of just 6,700 and this date is not often seen in grades finer than AU55. It is very rare in properly graded Uncirculated. There are three or four known in Uncirculated with the single finest being an NGC MS63 that last sold in early 2013 for $34,075.

This is the only high grade 1866 Motto half eagle I have ever seen which had original color and choice surfaces. Both sides show warm natural golden-orange color with shadings of rose at the borders. The luster is full and unbroken while the surfaces lack the deep, detracting abrasions so often seen on Philadelphia half eagles from this era. I don’t think this piece would look silly in an MS62 holder and it nicer than the non-CAC PCGS MS62 which sold a few years back (see below).

No CAC approved MS61 1866 Motto half eagle has ever sold at auction. A PCGS MS62 without CAC approval brought $17,625 as Stacks Bowers 8/16: 3263 and that coin was not choice, in my opinion.

This piece is clearly in the Condition Census for the date and it represents a very important coin given its status as a rarity in all grades and as a first-year issue.

CAC has approved two in this grade with one finer. (MS62).

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