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This particular type maintains the same obverse design without any alterations. However, several adjustments were made to the reverse side. The oval of stars positioned above the eagle's head was expanded, and the motto "IN GOD WE TRUST" was incorporated within that oval. Changes were also made to the rays above the oval. The shield's sides were slightly curved, in contrast to the previous type with straight sides, and the eagle's tail feathers were positioned lower and closer to the denomination lettering. Minor modifications were applied to the ends of the scrolls, the number of leaves on the scrolls, and the placement of the wing tips.
The inclusion of the motto on our coinage was prompted by Reverend Mark R. Watkinson of Ridleyville, Pennsylvania. The intense religious sentiments stirred by the uncertainties and horrors of the Civil War led Rev. Watkinson to advocate for its inclusion. Secretary of the Treasury, Salmon P. Chase, concurred with this sentiment. Using his discretionary authority 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 association with his alma mater may have influenced the final wording. Secretary Chase was an alumnus of Brown University, whose motto, "IN DEO SPERAMUS," translates to "IN GOD WE HOPE." It is believed that this influenced Chase's decision regarding the exact wording of the motto.
The Coin Act of March 3, 1865, granted the Treasury the discretionary power to include the motto "on all coins able to accommodate it," meaning coins of sufficient size to accommodate it. The Mint interpreted this to include all silver coins larger than a dime, half eagles, eagles, and double eagles. It wasn't until 1908 that Congress mandated the motto to be placed on gold and silver coins. In 1955, Congress passed legislation requiring the motto to appear on all coins.
Demand for Type 2 Double Eagles primarily comes from collectors of various coin types. While some collectors may acquire just one example, many seek specimens from each of the three Mints that produced these coins: Philadelphia, San Francisco, and Carson City. Only a few collectors attempt to assemble a complete set of date and mintmark combinations due to the associated costs. The rarest issue for this type is the 1870-CC with a mintage of only 3,789 pieces. All 1870-CC Double Eagles are considered very rare and highly expensive. As an indication of their scarcity, between the two major grading services, PCGS and NGC, only 132 coins have ever been certified, and none have received a higher grade than AU-55.
A LITTLE STICKER MAKES A BIG DIFFERENCE.
Within each number of the coin grading scale is a small range of condition from low-end to high-end. Certified coins of the same grade can be of varying quality. Many of today’s collectors want coins that are solid or premium quality for their assigned grade. CAC holds coins to a higher standard so you can be confident in the value of yours. We verify previously graded coins … and award our sticker only to those coins that meet the standard for today’s selective buyer.
WHAT THE CAC STICKER MEANS:
Verified. Your coin has been verified as meeting the standard for strict quality within its grade.
Guaranteed. CAC stands behind our verification.
THE CAC STICKER IS BACKED BY EXPERIENCE.
CAC was founded by leading members of the numismatic community, including John Albanese, a respected authority on coin grading and the rare coin market.
The pricing quoted on this page is based on the current market price for this precious metal, which constantly fluctuates and we continuously update from 7 a.m. – 5 p.m. CT, Monday through Friday.
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