SLEEPER 1866-S NO MOTTO HALF EAGLE

This is an important transitional issue as varieties of 1866-S half eagle are known with No Motto and With Motto. The former is rare with only 70-80 known from the original mintage of 9,000. This date is typically seen in VF-EF grades and many of the pieces in this range are either damaged or have been cleaned at least once.

This is a textbook coin for the grade with sharp overall detail and nice natural russet color accentuated by some dirt in the recesses. There are no marks which are out of character for the grade and the eye appeal is excellent.

No EF 40 has sold at auction since Heritage 6/05: 7789 at $3,795 and the last EF 45 to sell, an NGC graded example, brought $4,406 and it showed less detail than this PCGS EF40.

While not a rarity like some of the Civil War dates from this mint, the 1866-S No Motto is a very scarce issue which is hard to find with natural color and choice surfaces, especially in the $5,000-6,000 price range.

CAC has approved one in this grade with just two finer (EF45 and AU58).