This particular Type remains unchanged on the obverse, while several adjustments were implemented on the reverse side. Notably, the oval of stars situated above the eagle's head was expanded, accommodating the inclusion of the motto "IN GOD WE TRUST" within that oval. Alterations were also made to the rays above the oval. The shield now features slightly curved sides, in contrast to the straight sides of the previous Type, and the eagle's tail feathers are positioned lower and closer to the lettering indicating the denomination. Minor modifications were introduced to the ends of the scrolls, the number of leaves on the scrolls, and the positioning of the wing tips.
The incorporation of the motto into our coinage was spurred by Reverend Mark R. Watkinson of Ridleyville, Pennsylvania. The Civil War, with its uncertainties and horrors, evoked strong religious sentiments among the populace, prompting Rev. Watkinson to advocate for its acknowledgment. Secretary of the Treasury, Salmon P. Chase, shared this sentiment and, with discretionary authority over coin inscriptions, initiated the addition of the motto 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 motto's exact wording. The Coin Act of March 3, 1865, granted the Treasury the discretionary power to include the motto "on all coins able to accommodate it," referring to coins large enough to accommodate such an inscription. 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 inclusion of the motto on gold and silver coins. In 1955, Congress passed legislation requiring the motto to appear on all coins.
The demand for Type 2 Double Eagles primarily arises from collectors of various Types. While some collectors may add just one example to their collection, many aim to acquire one from each of the three Mints that produced this coin: Philadelphia, San Francisco, and Carson City. Only a few collectors attempt to assemble 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 just 3,789 pieces. All 1870-CC Double Eagles are exceptionally rare and carry a significant price tag. To underscore their rarity, between the two major grading services, PCGS and NGC, only 132 coins have ever received certification, and none have achieved the status of being uncirculated. Additionally, neither service has certified any example with a grade higher 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.