The 1866-S No Motto eagle is numismatically significant as the final Liberty Head issue of this type made without the motto In God We Trust on the reverse. Only 8,500 were struck and it is estimated that around 50 are known with many in very low grades and/or showing signs of having been cleaned repeatedly. It is unknown in Uncirculated and it is extremely rare in AU grades with seven or eight accounted for.

This is a choice example for the grade with almost enough detail to grade a full EF40; if such a grade existed, I would term this piece a “VF38.” Both sides show splashes of nice orange-gold and rich yellow color and there are traces of actual mint luster (very rarely seen on this issue) in the protected areas. The obverse is clean and wholesome; a few light marks (mint-made?) appear under the wings in both fields on the reverse.

The most recent auction comparable is Heritage 1/13: 7349, a PCGS VF30 with CAC approval, which brought $9,400. This coin was choice and attractive for the grade but it clearly had more wear than the VF35 I offer here. Six different examples have been auctioned since 2008 and, in my experience, the opportunity to purchase an example occurs about once per year.

Truly rare S mint eagles have finally come into their own after years of neglect and collectors now realize how important coins like this pleasing 1866-S No Motto are.

NOTE:  This coin has not yet been sent to CAC for approval.