1866 Liberty Head Double Eagle. MS-60 (PCGS).A sharply struck and frosty example with original rose-gold patina to both sides. The 1866 is a scarce Type II double eagle issue at this level of preservation, the present example representing a significant and fleeting bidding opportunity for the advanced gold collector.Even though the Civil War finally concluded in 1865, it would be many years before the nations 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. Highly desirable as the first year for the type, here is an attractive Mint State piece for the double eagle connoisseur.
