The Act of March 3, 1865 specified in part, that the motto should be included on all gold coins larger than the three dollar piece. Reverse dies for the $20’s were prepared, containing the new motto at the Philadelphia Mint, but didn’t reach the S.F. Mint until at least March of 1866. Anxious to begin coinage, the Mint began production, using two of the old reverse dies without the motto. In a scenario reminiscent of the earlier 1861-S Paquet Reverse coins, an estimated 120,000 No Motto double eagles were produced and released into circulation before the new dies arrived. Collecting $20’s only became popular in this country in the late 1930s, after President Roosevelt’s Gold Recall of 1933 made it illegal for U.S. citizens to own large amounts of gold in other forms. By then, the 1866-S No Motto twenties had been circulating for decades, and attrition had taken a severe toll. Today, the issue is scarce-to-rare in all grades. The PCGS population is a mere 2 with 5 higher – none finer than MS62.
Offered at $138,500 delivered
We do business the old fashioned way, we speak with you.
7:00 AM – 3:00 PM PST M-F
Private, Portable, Divisible Wealth Storage
Price is based on payment via ACH, Bank Wire Transfer or Personal Check.
Major Credit Cards Accepted, add 3.5%
Offer subject to availability.