1866 No Motto Silver Dollar Worth $2.5 Million

The 1866 No Motto Silver Dollar stands as a testament to numismatic rarity and historical significance. This coin, minted during a pivotal era in American history, has captivated collectors and historians alike, with some specimens fetching up to $2.5 million at auction.

1866 No Motto Silver Dollar

In 1866, the United States Mint introduced the motto “In God We Trust” on the reverse of its silver dollars. However, a minuscule number of coins were produced without this inscription, now known as the “No Motto” variety.

Only two proof specimens of the 1866 No Motto Silver Dollar are known to exist, making it one of the rarest coins in American numismatics.

Design And Features

The obverse of the 1866 No Motto Silver Dollar features the iconic Seated Liberty design by Christian Gobrecht, depicting Lady Liberty seated with a shield and holding a pole topped with a liberty cap.

The reverse showcases a heraldic eagle clutching arrows and an olive branch, notably absent of the “In God We Trust” motto that was introduced that year.

Historical Context

The year 1866 was a transitional period for U.S. coinage, marking the post-Civil War era and the nation’s efforts to unify and rebuild. The addition of the “In God We Trust” motto reflected the country’s evolving values.

The existence of the No Motto variety from this year provides a unique glimpse into this transformative time in American history.

Rarity and Value

With only two known proof specimens, the 1866 No Motto Silver Dollar is exceedingly rare. Its scarcity and historical significance have led to auction prices reaching as high as $2.5 million. The coin’s value is influenced by factors such as condition, provenance, and market demand among elite collectors.

Notable Auctions

One of the two known specimens of the 1866 No Motto Silver Dollar was sold at auction in 2005 for $1,207,500. Another example fetched $1,050,000 in 2021. These sales underscore the coin’s desirability and the premium that collectors are willing to pay for such a rare piece of numismatic history.

Collecting Considerations

For collectors, acquiring an 1866 No Motto Silver Dollar is a monumental achievement due to its rarity and high value. Potential buyers should ensure thorough authentication and provenance verification, given the coin’s significant investment. Collaborating with reputable dealers and auction houses is essential when pursuing such a rare coin.

YearVarietyMintageKnown SpecimensAuction Record
1866No Motto2 (Proof)2$1,207,500 (2005)
1866With Motto48,900NumerousVaries by condition

The 1866 No Motto Silver Dollar is a numismatic treasure that embodies a unique moment in American history. Its rarity and the stories it carries make it a coveted piece for collectors and historians alike.

FAQs

1. Why is the 1866 No Motto Silver Dollar so rare?

Only two proof specimens of the 1866 No Motto Silver Dollar are known to exist, making it one of the rarest U.S. coins.

2. What distinguishes the No Motto variety from other 1866 silver dollars?

The No Motto variety lacks the “In God We Trust” inscription on the reverse, which was introduced in 1866.

3. How much is the 1866 No Motto Silver Dollar worth?

Auction records show that the 1866 No Motto Silver Dollar has sold for over $1 million, with some sales approaching $2.5 million, depending on condition and provenance.

4. Where can I find an 1866 No Motto Silver Dollar?

Due to its extreme rarity, the 1866 No Motto Silver Dollar occasionally appears in major numismatic auctions. Interested collectors should monitor auction house listings and consult with reputable dealers.

5. What should I consider before purchasing such a rare coin?

Ensure the coin’s authenticity and provenance, and work with reputable dealers or auction houses. Given the significant investment, thorough due diligence is essential.

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