The recent discovery of a rare 1866 No Motto Double Eagle coin has taken the numismatic world by storm. With a value exceeding $1 million, this coin is a remarkable piece of history and showcases the lasting appeal of rare coins among collectors and investors.
The 1866 No Motto Double Eagle: A Historical Overview
The Double Eagle was first minted in 1849 during the California Gold Rush, a time when the U.S. had an abundance of gold. This $20 gold coin, designed by James B. Longacre, features Lady Liberty wearing a coronet that says “LIBERTY” on the front, while the back shows a heraldic eagle. In 1866, the design of the coin was changed to include the motto “IN GOD WE TRUST” on the back above the eagle, reflecting the national mood during the Civil War. However, a small number of 1866 coins were made without the motto, which makes these coins very rare and highly sought after by collectors.
Specifications 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 | About 120,000 (San Francisco) |
The Recent Discovery and Its Significance
In November 2024, a previously unknown 1866 No Motto Double Eagle was discovered. This coin, which was minted at the San Francisco Mint, is one of the few remaining from an original mintage of around 120,000. Most of these coins were either lost or melted down, making those that survive incredibly rare. Because of its exceptional condition, the coin has been valued at more than $1 million, making it not just a historic artifact, but also a valuable investment for collectors.
Market Performance of the 1866 No Motto Double Eagle
The 1866 No Motto Double Eagle has sold for impressive prices at auctions. For example:
- In 2021, a coin graded AU-50 by PCGS sold for $114,000.
- In 2023, a higher-grade coin (AU-55) fetched $1.44 million at an auction.
These prices reflect the high demand for this rare coin, as collectors and investors continue to pay top dollar for it.
Factors Contributing to the Coin’s Value
Several factors make the 1866 No Motto Double Eagle so valuable:
- Rarity: With a low number of surviving coins, this coin is extremely rare.
- Historical Significance: The absence of the “IN GOD WE TRUST” motto marks a unique period in U.S. history.
- Condition: Coins in excellent condition, especially those graded AU-55 or higher, are worth much more.
- Market Demand: There is strong demand from both collectors and investors, which drives up prices.
Collecting and Investing in Rare Coins
The discovery of this coin shows how rewarding numismatic collecting can be. If you’re interested in collecting or investing in rare coins, it’s important to:
- Authenticate: Make sure the coin is certified by a reputable grading service like PCGS or NGC.
- Research: Understand market trends and the historical context of the coins.
- Consult Experts: Speak to experienced numismatists to get advice on major purchases.
The discovery of the 1866 No Motto Double Eagle coin valued at over $1 million highlights the enduring fascination with rare coins.
This piece of U.S. history continues to captivate collectors and investors alike, serving as a reminder of the rich heritage preserved in numismatic treasures.
What is the 1866 No Motto Double Eagle coin?
It’s a rare $20 gold coin minted in 1866 without the motto “IN GOD WE TRUST” on the back.
Why is the 1866 No Motto Double Eagle so valuable?
Its rarity, historical significance, and excellent condition make it highly valuable.
How many 1866 No Motto Double Eagles were minted?
Around 120,000 coins were minted, but most were lost or melted down.
What is the current value of the 1866 No Motto Double Eagle?
The coin is valued at over $1 million, depending on its condition.
How can I invest in rare coins like the 1866 Double Eagle?
Ensure the coin is authenticated, research its market value, and consult experts before buying.
