1866 $1 MOTTO MS67 PCGS
Pedigreed to an original mint set that sold at Christie’s Auction in May 1989 from the Texas Collection of United States Coins for over $100,000 RAW. Prior toe 1989 this cold sold via Julian Leidman to famed collector Jimmy Hayes in 1979 for $700. It then sold at RARCOA auction the following year in 1990 again by no accident for $100,000 described as a “flawless, reflective with satin smooth finish, as creamy white obverse and iridescent blue-green reverse.” It was described as the finest graded 30 years ago and is still so today. Since 1990 this finest seated dollar has sold in 2005 for over $300,000 via private treaty.
At MS67 in the entire Liberty Seated Dollar series spanning from 1840 to 1873, there have just been 4 known and graded at the unattainable MS67 level with none grading higher in all dates both type 1 and type 2! 2 in type 1, 1849 and a 1863, whilst in type 2 this coin and another 1866 $1 motto. There has never been a type 2 sale of a ms67 and ms67 have traded north of $300,000 privately. The other 1866 $1 motto is in the Hansen collection. 1866 $1 motto as a date is significantly important as the first issue for the type as the start of the transition of the no motto to with motto series. No known no motto business strike 1866 $1 exist except for two that costs over $5 million it seems like if ever available. This is literally the best example of any seated dollar in existence.
It has long been known that it is actually easier to find mint state type 1 $1 rather than type 2. Thus the two ms67 type 1 have a price guide of $200,000 having traded several times in the past decades privately, whilst type 1 has no price guide and no comp as it is a much tougher coin. A total of 12,216 type 1 mint state are known compared to 5,593 type 2 mint state ( pcgs population report) Looking at comps for the key date 1866 $1 motto, there has never been a MS67 sale. An MS65 PCGS CAC example sold for $79,313 in 2014, whilst the POGUE MS66+ PCGS CAC sold for a $135,000 during the pinnacle of the virus and also considering the coin had muted luster not to mention the eye appeal was not all there. Had pcgscoinfacts reflected the prices into the price guide that 66+ should be $150,000. This coin should be worth multiples as a far superior example of conditional rarity and type 2 rarity.
A unique opportunity to find an original mint set traced 1866 $1 example. Two decades later once again an opportunity has risen not just for the finest 1866 $1 but also the finest liberty seated dollar.
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