1866-S $10 No Motto MS (PCGS# 8644)

The August 2011 Chicago ANA World's Fair of Money Auction

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Lot Description
1866-S Liberty Eagle. No Motto. EF-45 (PCGS). With the adoption of the Motto to all coins suitable to display it, the eagle was a natural and important choice for inclusion in this feature. However, the far flung San Francisco Mint still had plenty of gold ready for coinage when 1866 rolled around, so rather than wait for the revised dies to arrive, coinage began using the old style "No Motto" reverse. A total of 8,500 pieces were coined before the new reverse dies arrived on April 14, 1866. Struck in classic orange-gold, with the color perfectly even and attractive. Moderate surface marks as expected, as bag handling and circulation quickly took a toll on the soft gold surfaces. Residual luster in the most protected areas near the devices shows as satiny mint glow from these narrow areas of the field. Attrition rates were excessive, and today it is believed that a mere 40-55 examples survived to today in all grades. An important offering and probably within the top 15 to 20 known of the date.
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