 1866'S' WB.101. No Motto. Gem Brilliant Uncirculated. The Garrett Coin. Almost certainly the Finest Known of this issue, the only coin which comes close is another graded MS65 by PCGS. The obverse and reverse are bathed in frosty mint lustre, and the surfaces are a delight to study. Toned with a blush of gold on the obverse and reverse. Fully struck throughout, with sharp curls on Liberty and the stars are all full to their centers. The obverse die is lightly clashed above and below the pole. Matching on the reverse, with die clashing seen above the left wing and under the right wing of the eagle. The quality of the present coin is simply stunning, even if it were a common date, but for this classic rarity such quality is hard to fathom.
For identification purposes, there is a minute tick on the inside point of the eleventh star. Minor rim crumbling is found on the upper obverse above Liberty's head, and a partial wire edge is present on the upper left obverse. On the reverse, a thin die crack spans through portions of the legend, with a curious raised portion connecting the ''D and S'' between the words UNITED STATES, as though the die crack was drawn toward the denticles, then changed its mind and continued to the top of the ''S''. This same die crack is present on the Eliasberg coin of this date and mint.
Religious fervor was sweeping the nation as the Civil War finally drew to a painful conclusion. Congress saw fit to add a new Motto to our coins in circulation. After experimenting with ''GOD OUR TRUST'' our representatives in Washington chose ''IN GOD WE TRUST'' and authorized the Motto to be included on all coinage henceforth. In early 1866 new dies were prepared in Philadelphia and shipped to the only other then operating branch mint in San Francisco. Recall that in 1866 there was no cross country railroad, an amenity that was not completed until 1869. The only option was by dangerous overland passage through the Wild West, or by boat to Panama, across the isthmus and aboard another boat to San Francisco. Either passage took time.
For some reason, the San Francisco Mint decided to coin Half Dollars in early 1866 using the old style, mottoless reverse. It is likely that the new dies had not arrived, yet coinage orders needed to be filled. San Francisco Mint records indicate that a mere 60,000 of these No Motto Half Dollars were struck and released into general circulation. Noted specialist Don Taxay believed that the number was actually 6,000 pieces, which may be closer to the fact given the rarity of this issue today. Perhaps a half dozen of these are truly Uncirculated, with most survivors showing substantial wear and tear. Of course the vast majority were later melted or lost, and precious few remain today in any grade.
For the specialist, the present coin represents a wonderful opportunity to purchase one of the rarest dates in superlative condition. The pedigree of the present coin mirrors the grade. Our consignor purchased this coin at the Garrett Sale in 1979 and it has been off the market since that time. The Louis Eliasberg coin is certainly respectable and was graded Mint State-63 by PCGS, and as such is one of the top half dozen to survive. However, the present coin is far nicer in surface quality and striking characteristics.
Ex The Garrett Collection, Part II (Bowers and Ruddy, November 1979, lot 350); the J. Colvin Randall Collection.
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