1901 $10 Liberty PCGS MS65 CAC

The reverse side of this Type showcases a decorative scroll positioned above the eagle, featuring the motto "IN GOD WE TRUST" in raised lettering. Apart from the scroll, it closely resembles the No Motto Type. The inclusion of this motto in our coinage was influenced by Reverend Mark R. Watkinson of Ridleyville, Pennsylvania. The tumultuous and harrowing experiences of the Civil War stirred profound religious sentiments among the populace, prompting Rev. Watkinson to advocate for its acknowledgment. Secretary of the Treasury Salmon P. Chase supported this idea and, using his discretionary authority over coin inscriptions, introduced the motto for the first time on the 2-cent piece in 1864. Initially, the motto was intended to read as "In God Our Trust," but Secretary Chase's connection to his alma mater, Brown University, might have influenced the final wording. Brown University's motto, "IN DEO SPERAMUS," translates to "IN GOD WE HOPE." It is believed that Secretary Chase had this motto in mind when deciding on the precise wording. The Coin Act of March 3, 1865 granted the Treasury the discretion to include the motto "on all coins able to accommodate it," referring to coins with sufficient space for the inscription. The Mint interpreted this to encompass 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 both gold and silver coins. In 1955, Congress passed legislation requiring the motto's presence on all coins. With the exception of 1873, all Half Eagles featuring the "With Motto" design and dated prior to 1878 exhibit low mintages and are considered rare and valuable. This scarcity can be attributed to the impact of the Civil War. During the war, gold coins were hoarded, and banks suspended specie payments. Hoarding resulted in a two-tier pricing system, with goods purchased using paper currency costing more than those bought with gold. The gold coins produced during this time were primarily used for international trade, bank reserves, and specific contracts that mandated payment in gold. The year 1873 stands as an exception because the Treasury deposited significant quantities of old, worn, and obsolete gold coins for re-coinage. In 1878, banks resumed specie payments, leading to a substantial increase in mintages, flooding the economy with a large number of half eagles. Collectors typically acquire this coin as a representative of its type and within a variety of sets. Aside from collecting by date or date and mintmark combinations, one popular approach is to assemble a set that includes one coin from each of the seven U.S. Mints that produced half eagles. Notably, half eagles are the only coin type crafted at all seven U.S. Mint facilities.