1906-D $5 Liberty MS65 CAC

The reverse side of this Type is marked by a scroll situated above the eagle, showcasing the motto IN GOD WE TRUST in raised relief. Apart from this scroll, it closely resembles the No Motto Type. The incorporation of this motto into our coinage stemmed from the urging of Reverend Mark R. Watkinson of Ridleyville, Pennsylvania. The upheaval and hardships of the Civil War stirred profound religious sentiments within the population, prompting Rev. Watkinson's belief that acknowledgment was necessary. Secretary of the Treasury Salmon P. Chase concurred, and utilizing his discretion in coin inscriptions, he initially introduced the motto to the 2-cent piece in 1864. Originally intended as "In God Our Trust," the wording was potentially influenced by Chase's association with his alma mater. Chase had graduated from Brown University, where the motto IN DEO SPERAMUS translates to "IN GOD WE HOPE." It's believed that Chase drew upon this when finalizing the precise wording of the motto. The Coin Act of March 3, 1865 granted the Treasury discretionary authority to incorporate the motto "on all coins able to accommodate it," indicating coins of sufficient size. The Mint interpreted this as encompassing 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. Subsequently, in 1955, Congress passed legislation enforcing the motto's presence on all coins. Excluding 1873, nearly all With Motto Half Eagles dated before 1878 bear low mintages, rendering them rare and highly valuable. The root cause can be traced back to the Civil War era. During that period, gold coins were hoarded, leading banks to suspend specie payments. This hoarding contributed to a dual-tier pricing system: transactions conducted with paper currency incurred higher costs compared to those using gold. The minting of gold coins primarily catered to international trade, bank reserves, and specific contractual obligations demanding payment solely in gold. However, the year 1873 presents an exception, as the Treasury introduced substantial quantities of old, worn, obsolete gold coins for re-coinage. Following the resumption of specie payments by banks in 1878, mintages surged dramatically, flooding the economy with immense numbers of half eagles. This coin is actively sought after both as a Type and within a diverse array of collections. In addition to sets organized by date or date and mintmark, another sought-after approach involves acquiring a single coin from each of the seven Mints that produced half eagles. Remarkably, half eagles are the only coin to have been minted across all seven U.S. Mints.