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For this Type, there are no alterations on the obverse, but a few adjustments were introduced on the reverse. The oval of stars positioned above the eagle's head was enlarged, and the motto "IN GOD WE TRUST" was incorporated within that oval. The rays above the oval have also undergone modification. The shield now possesses slightly curved sides, departing from the straight design of the previous Type, and the eagle's tail feathers are positioned lower and nearer to the lettering indicating the denomination. Minor changes were also implemented on the ends of the scrolls, the number of leaves adorning the scrolls, and the placement of the wing tips.
The inclusion of the motto in our coinage was prompted by Reverend Mark R. Watkinson of Ridleyville, Pennsylvania. The uncertainties and horrors of the Civil War evoked profound religious sentiments among the population, and Reverend Watkinson believed that this should be acknowledged. Secretary of the Treasury, Salmon P. Chase, concurred, and, with discretion over coin inscriptions, Chase initially had the motto added to the 2-cent piece in 1864. Originally, the motto was intended to read as "In God Our Trust," but Chase's alma mater may have influenced the final wording. Secretary Chase was a graduate of Brown University, whose motto "IN DEO SPERAMUS" translates to "IN GOD WE HOPE." It is believed that Chase had this in mind when determining the precise wording of the motto. The Coin Act of March 3, 1865, granted the Treasury the discretionary authority to include the motto "on all coins able to accommodate it," referring to coins of sufficient size to accommodate the motto. The Mint interpreted this to apply to all silver coins larger than a dime, half eagles, eagles, and double eagles. It wasn't until 1908 that Congress mandated the motto's inclusion on gold and silver coins. In 1955, Congress passed legislation requiring the motto to be featured on all coins.
Demand for Type 2 Double Eagles primarily stems from collectors specializing in various coin types. While some collectors acquire just one specimen, many aim to acquire examples from each of the three Mints that produced these coins: Philadelphia, San Francisco, and Carson City. Few collectors undertake the challenge of assembling a complete set of dates and mintmarks due to the associated costs. The scarcest issue for this Type is the 1870-CC, with a mintage of only 3,789 pieces. All 1870-CC Double Eagles are exceptionally rare and come with a substantial price tag. To underscore their rarity, between the two major grading services, PCGS and NGC, only 132 coins have ever been certified, and none have received a rating higher than AU-55.
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