1866 Liberty Head Double Eagle


1866 Liberty Head Double Eagle

With Motto

Circulation Mintage: 698,745
Estimated Survivors: 3,000-6,000 in All Conditions
Obverse Text: 1866 | LIBERTY
Reverse Text: UNITED STATES OF AMERICA | TWENTY D. | E PLURIBUS UNUM | IN GOD WE TRUST

Even though the Civil War finally concluded in 1865, it would be many years before the nation's economy would be on less shaky footing. The hoarding of precious metal coinage continued largely unabated well into the 1870s. The Philadelphia Mint did their part to reduce the strain by striking some 698,745 double eagles that year with the newly modified reverse design featuring the motto IN GOD WE TRUST.

The issue entered circulation with little notice, with a significant number of coins disappearing into domestic hoards or more often than not used for overseas commerce where paper money was not nearly as well received. The specimens shipped abroad stayed there for the most part and were shuttled from one bank to another before many double eagles finally began to make their way back stateside beginning after World War II.

Today, anywhere from 3,000 to 6,000 1866 With Motto double eagles are estimated to survive, though the lower figure is probably closer to the real quantity. However, almost the entirety of this population are at the middle to higher circulated grade range. At best, maybe a few dozen or so truly Mint State examples are postulated to reside in numismatic channels. The number of certification events are no doubt bolstered by resubmissions.

View 1866 Liberty Head Double Eagle Auction Results

The example to the left was sold by Stack's Bowers Galleries in the Fairmont Collection Hendricks Set, where it realized $33,600.
 

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