Natural Toning
1866


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: SILVER DOLLARS - SEATED LIBERTY, NO MOTTO
Item Description: $1 1866 MOTTO
Grade: PCGS AU 58
Owner: Hagop
 
Winning Set: Natural Toning
Date Added: 4/6/2021
Research: See NGC's Census Report for this Coin

Owner's Description

A magnificent example covered with fully natural lavender and blue toning. A small planchet flaw touches two points of star thirteen. There are no clear signs of wear which supports my opinion that this stunning example never circulated. A perfect example of a beautiful and naturally toned seated dollar with exceptional eye appeal.

During the Reconstruction period, silver dollars continued their use as a trade coin rather than in domestic commerce. The statutory weight of the silver coinage remained at its original 1840 standard and was higher than the equivalent minor coinage. Some Liberty Seated dollars did see use at home though this was largely in the Western states, in particular the Carson City Mint issues.

One of the lasting effects of the Civil War was the 1864 adoption of the motto "In God We Trust" on the nation's coinage. In 1861 when the nation's morale was at a low point, Reverend M.R. Watkinson of Ridleyville, Pennsylvania petitioned Secretary of the Treasury Salmon P. Chase urging the placement of a motto acknowledging "Almighty God in some form in our coins." Chase received this petition positively and instructed the director of the Mint to create designs and prepare patterns with various versions of the motto that he could take to Congress. On April 22, 1864, Congress passed a law that specified the addition of IN GOD WE TRUST on the newly created two-cent coin. On March 3, 1865, the Congress passed further legislation to authorize the placement of the motto on all silver and gold coins of sufficient size. The motto first appeared on the silver dollar in 1866, and remained for every subsequent issue.

The Philadelphia Mint was the only facility to produce silver dollars in 1866, striking a total of 48,900 pieces accomplished in five deliveries. A San Francisco mintage was contemplated with the Mint going so far as to provide the branch mint two obverse and six reverse dies, but these were never used. As with earlier issues, the bulk of these coins comprised bullion deposits ordered for use in international commerce, many of which were ultimately melted down, especially those that ended up in China. The few survivors likely represent coins that remained in government hands until a decline in bullion prices during the early to mid 1870s allowed their release. At that point they were eagerly acquired by numismatists.

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