David Akers (1975/88): The Double Eagle collector who would like a high grade (AU or better) example of this date is likely to be disappointed. Actually this issue is very rare in any condition, second among S-Mint issues only to the 1861-S Paquet, and 28th in the entire 204 coin series. In rarity according to average grade, the 1866-S No Motto is tied for first with the 1870-CC and 1871-CC. When available, which is not really very often, the 1866-S No Motto is typically VF and heavily bagmarked. A strictly graded EF is very rare and, above that level, the 1866-S No Motto is excessively rare and, for all practical purposes, unavailable.
The Saddle Ridge Hoard of gold coins, discovered in northern California in 2013, contained only a single example of the 1866-S No Motto $20, but it was a doozy. At PCGS MS62, it became immediately the best example known of this scarce issue.
Saddle Ridge Hoard
Stack's/Bowers 2/2015:2625, $129,250
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