RARE 1866-S NO MOTTO HALF EAGLE

The 1866-S No Motto is a numismatically significant transitional issue which is the final issue of this design to be struck. 9,000 were struck at the San Francisco mint before word reached this facility that the new With Motto half eagles were to be produced and there are an estimated 75-85 known today, mostly in very low grades. There are likely fewer than a dozen 1866-S No Motto half eagles extant in AU grades and none currently exist in Uncirculated.

This coin has never before been offered for sale to collectors and it is a solid example for the grade with natural splashes of russet color which are a bit more even and deeper on the reverse. There is an odd series of shallow planchet lines on the obverse below stars seven and eight which are mint-made and which I can’t recall having ever seen on this date before. The surfaces are less abraided than usual for the issue, some luster clings to the surfaces and the strike is better than average.

No PCGS AU50 has sold at auction since January 2004 when a piece sold for a strong $12,075.

This is a pleasing example of a truly rare and still undervalued issue. It is the current plate coin for PCGS Coinfacts and it is one of the two or three finest that I have ever handled.

CAC has approved one in this grade with one finer (AU58).