1866-S Double Eagle, with motto, NGC AU58. The first year of the type 2 reverse double eagles saw 842,250 pieces struck at the San Francisco Mint. Although approximately 8 times more motto pieces were struck than the other variety of the year, the no motto double eagles, most of these soon entered circulation.

Unlike the situation seen on the east coast, double eagles circulated freely along the west coast, where paper money generally was not accepted. This makes AU pieces of the 1866-S with motto very scarce, especially in upper AU, and Mint State pieces are seldom encountered. Between 4,000 and 5,000 pieces still remain to exist in all circulated grades, with 50-70 believed to exist in true Mint State.

The type 2 double eagles are notorious for being weakly struck, and the 1866-S double eagle is no exception. Although the current piece is somewhat weakly struck in the centers, all the stars on the obverse are fully struck, a rare occurrence with most examples of this issue.

Struck from 1866 to 1876, type 2 double eagles make for a very enjoyable collecting experience. Although the full set contains several stoppers, like the 1870-CC, all dates have at least one coin available more easily than the others. This makes it fun to collect one of each date, which is, especially in AU and higher a very worthwhile experience and a great set when completed.

The piece offered here is a prime example of this much circulated issue. Virtually full luster, this coin is only a few days of circulation short of being a full Mint State coin. No distracting marks are noted on either side, and the very clean fields make this coin much nicer than the average MS-62 seen in today’s market. A great coin for the discriminating collector!