Lot 3297
1866-S $5 Liberty. No motto. NGC graded AU-58. Only 9,000 minted. A nice strike with some light toning. An elusive transitional piece, and desirable as such, a rarity when compared to its lower-grade brethren that usually appear in sales. With this few issued the average survivor is often abraded, with nice ones in the minority. This present AU58 example has a solid lock on its grade and offers the viewer lovely tinges of gold plus generous amounts of luster. NGC holder 1850958-003.
The year 1866 was a one of transition in silver and gold coins. Patriotic fervor arising out of the trauma of Civil War gave birth to demands for a religious motto to be included on America's coinage. In 1861, 1862, and 1863, a now forgotten precursor to the adopted motto was used on Pattern coins. But, GOD OUR TRUST, for that was the original wording, was rejected; the more rhythmical IN GOD WE TRUST sounded better and was put on the new Two-cent Pieces of 1864 and later the Shield Nickels of 1866. The Act of March 3, 1865 had a clause mandating this motto. However, it took Philadelphia Mint some months to prepare the production dies. (Philadelphia makes dies for the branch mints). For this reason, a few No Motto five-dollar gold pieces, but only a few, were made at San Francisco before the new IN GOD WE TRUST reverse dies arrived. The present piece is one of the higher end survivors. Not many come on the market in any one year. Pop 7; none finer at either service (PCGS # 8300) .
Estimated Value $11,000 - 12,000.
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| Realized $13,800 |
