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Double Eagles $20 Liberty

1866 Motto $20 PCGS MS61
Please call: 1-941-291-2156
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1866 $20 With Motto
PCGS MS61
Coin ID: RC38521
Inquire Price: 15,625.00 - SOLD - 1/19/2012*
Free Shipping and Insurance for coins at $10K or above.

1866 $20 (1866 Double Eagle) With Motto, PCGS MS61. This rare, first-issue-of-type, Mint State, With Motto 1866 double eagle comes with a strong strike and lovely color. The coin is a mixture of yellow, gold and orange with darker tones in the peripheral areas. Full details are found on the centers of the stars and the design details of the reverse, especially the eagle. The surfaces are original, as indicated by the colors, and clean for the grade. There are no significant abrasion marks or other distractions worthy of individual description.

Both before and during the Civil War almost a dozen Protestant denominations pressured Congress to add references to God to the Constitution and other government documents. Reverend Mark Richards Watkinson was the first to write to Treasury Secretary Salmon Chase to request that Gods name be added to our coinage. His suggestion for a motto was God, Liberty, Law. Chase ordered Mint Director James Pollock to prepare a suitable motto. Pollocks suggestions included Our Trust Is In God, Our God And Our Country, and God Our Trust. Then Chase decided on In God We Trust to be added to most of the nations coinage. This motto was a subtle reminder that the North considered itself on the side of God with regard to the issue of slavery. A new law was required to allow the motto to be added since previous acts of Congress specified the mottos and devices that were permitted on coins. The new motto was placed on all coins that were deemed large enough to accommodate it.

James Barton Longacre designed the pattern for the twenty dollar double eagle in 1849. It was produced because of the huge amount of gold that came into the Mint from California. With the discovery of gold at Sutters Mill in January 1848, the California gold rush began. It led to an influx of miners and others into the area. The vast quantity of gold produced led to a need for a standard form of exchange. The double eagle was the governments response. They also felt that the new denomination would be useful for large commercial transactions and that it would facilitate foreign trade.

Longacres design for the double eagle shows a Liberty head facing left, wearing coronet inscribed LIBERTY. Her hair is tightly tied in the back with two loose curls hanging down her neck to the end of the truncation. She is surrounded by thirteen six-pointed stars with the date below. Dentils are near the edge on both sides of the coin. The reverse shows a heraldic eagle with elaborate ribbons on both sides of the shield extending from the top corner down to the eagles tail feathers. The ribbons are inscribed, on the left E PLURIBUS and UNUM on the right. The ribbons were added to the design to symbolize the denomination since this was the first twenty dollar coin. There is an oval of thirteen stars above the eagles head and an arc of rays from wing tip to wing tip behind the upper half of the oval. UNITED STATES OF AMERICA is in an arc above the eagle, and the denomination TWENTY D. is below.

The motto IN GOD WE TRUST was added to the original double eagle by enlarging the oval of stars above the eagles head and placing the motto in it. This modification did not require a major alteration of the design as was the case with adding the motto to the lower denominations.
Longacre was born in Pennsylvania in 1794. When he finished his apprenticeship in Philadelphia as a bookseller and a banknote engraver, he worked on his own as an engraver of book illustrations and bank notes. His works included one on the signers of the Declaration of Independence and another on stage personalities. In 1830, Longacre began a series of biographies of famous men in the military and the political arena. In 1834 the result of this series became the National Portrait Gallery of Distinguished Americans that was published in four volumes. Longacre and those who worked with him became famous because of this work. In 1844 Longacre came to work at the Mint. He was opposed by Franklin Peale, the Chief Coiner. Peale was probably responsible for some blundered dies that Longacre was criticized for making. Peal was involved in a private, illegal medal manufacturing business using Mint facilities. He was concerned that this new political appointee would interfere with his business, and he resisted Longacres appointment as Chief Engraver. Finally in 1854, Peale was fired by President Franklin Pearce. Longacre flourished in his position and was responsible for creating many new designs including the Indian Head cent, the two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three-dollar gold piece, and the Liberty Head double eagle. 

The 1866 With Motto double eagle is usually seen in VF to XF condition. It is scare in AU and rare in Mint State. In its population report, PCGS shows 16 in MS61 condition with 2 better.


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