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March Spotlight Coin
Top 5 Reasons to Own This Hoard of Gold Coins
$5 'No Motto' Gold Liberty
Having dealt in rare United States gold coins for decades, we’ve had the privilege of handling countless major rarities and distinctive collections. Many significant, fascinating and unusual specimens have passed through our hands. However, we cannot remember a more intriguing group of coins than the ones we have just come across.
This unique hoard of ‘No Motto’ $5 Liberty Half Eagles represents one of the most special numismatic groups we have ever encountered. Yet, in terms of the price per coin, they are far from the most expensive. This cache boasts an incredible story, outstanding quality and a shockingly low price point.
Here are the top 5 reasons to own these ‘No Motto’ $5 Liberty Half Eagles today!
1. Extreme Rarity
At first glance, ‘No Motto’ coins may look like ordinary $5 ‘Libs,’ albeit minus the motto ‘In God We Trust’ on the reverse. The inscription was added immediately after the Civil War in 1866. The national sentiment had become more religious after the war, and this was reflected on our country’s money. While generally similar in appearance, ‘No Motto’ $5 Libs are a world apart from their ‘With Motto’ brethren in terms of rarity. In simple terms, ‘No Motto’ coins are easily 10-20 times rarer, but their price would lead you to believe otherwise.
According to the NGC Census, over 211,000 $5 Liberty Half Eagles have been graded in total. Of those, just over 19,000 were of the ‘No Motto’ type. This suggests that ‘No Motto’ coins are 11 times rarer. In actuality, the difference is much greater. Tremendous quantities of common/worn ‘With Motto’ coins have never been submitted, as their value does not warrant third-party grading. By comparison, all ‘No Motto’ $5 Libs are collector items regardless of grade – and almost always trade in certified form. If the NGC census included all coins in existence, including low-premium ‘With Mottos,’ the ratio might be closer to 20:1 or 30:1!
2. Low Premiums
While estimates vary as to the exact difference in rarity, there is universal agreement that ‘No Motto’ $5 Libs are dramatically rarer. Yet, some ‘No Motto’ coins sell for an extremely modest premium. A common uncertified XF/AU ‘With Motto’ $5 Liberty sells for around $375 per coin and is likely to be dated between 1880-1908. Meanwhile, a certified XF/AU ‘No Motto’ specimen, dated in the 1840s or 1850s, is anywhere between 11-30 times rarer but sells for less than $600 per coin. It’s essentially a 50% premium for a wildly rarer coin!
3. Historical Significance
The ‘No Motto’ coins also carry an added level of intrigue and historical significance. These coins were struck in the 1840s and 1850s – a period that included the U.S.-Mexican War, the California Gold Rush, the addition of numerous states and the Compromise of 1850. This pre-Civil War era was a turbulent period for the relatively young United States; the country had not yet secured its place as a leader on the world stage.
Like most pre-Civil War coins, ‘No Motto’ $5 Liberties were also melted extensively. Precious metals prices skyrocketed during the war – and the melt value of U.S. gold coins exceeded their face value. Since $5 Half Eagles were worth more ‘dead’ as bullion, than alive as legal tender, countless coins were sent to the melting pot. The few coins that remained were then subjected to additional melting in 1933 when Franklin D. Roosevelt issued his gold ownership ban and redemption order.
This is what makes the present offering so special and unique. This group of ‘No Motto’ $5 Liberty Half Eagles was recently unearthed in Europe and likely sat untouched for the better part of a century! Had these coins not jumped the pond, there’s an excellent chance they would have been destroyed at some point during the 1860s or 1930s. In all likelihood, they circulated very briefly (perhaps for 5-10 years) before being squirreled away.
Why did these coins end up in Europe? In the early and mid-19th century, the most commonly-used gold coins were between 1/6th and 1/4th of an ounce. Even though most countries issued gold coins in a wide variety of weights and denominations, the greatest demand existed for pieces in this general size range. Frequently-encountered coins like the French/Belgian 20 francs, the British sovereign, the Dutch 10 guilders, and German 20 marks are all between 0.18 and 0.25 oz. The U.S. Half Eagle was extremely close in size, weight and composition to these leading gold coins – and thus the most likely to be accepted overseas. If an American merchant wanted to conduct business in Europe, the best U.S. gold coin to use would be the 0.24 oz. Half Eagle.
4. Picture-Perfect Appearance
As if their rarity and alluring backstory weren’t enough, these ‘No Motto’ $5 Liberties feature picture-perfect appearances. The coins display moderate wear with just minor circulation. They grade a minimum of PCGS XF40, but they really have the sharpness of AU coins. The surfaces are smooth and devoid of the heavy gouges typically seen on ‘No Motto’ gold.
Perhaps the best aspect of each coin’s appearance is its original patina – the kind that only develops from sitting in place for many, many years. One could not ask for better quality or eye appeal for a coin of this age. When you see these coins in person, you’ll know what we mean when we call them ‘Gem XF.’
5. Instant Collection
An incredible range of dates is represented in the group; the coins range from 1843 through 1857. This is one more hallmark of a true, original hoard. With such a diverse mix of dates, we can offer you an outstanding variety of years. Owning just one ‘No Motto’ $5 Liberty is a special opportunity, but numismatists are rarely offered the chance to own a mini-collection!
Offer and Pricing
We have several ways for you to take advantage of the ‘No Motto’ $5 Libs:
- Buyers of 2 or more coins will receive one coin dated from the 1840s and a second coin dated from the 1850s - an instant two decade set, available at $585 per coin.*
- Buyers of 5 or more coins will receive five different dates spread over two decades (1840s and 1850s), available at $575 per coin.*
- Buyers of 10 or more coins will receive ten different dates spread over two decades, available at $565 per coin* plus FREE shipping, handling and insurance. Please note a very limited number of ten-date sets are available. Let us know immediately if you wish to take advantage of this.
|Number of Coins||Prices|
|2-4||$585 per coin*|
|5-9||$575 per coin*|
|10+||$565 per coin*
Free shipping, handling and insurance
The last time we offered ‘No Motto’ gold coins, they sold out instantly, and we had to wait years before another group was uncovered. Our wish was finally granted when this rare group surfaced in Europe. As soon as we caught word of this remarkable find, we immediately had to let you know.
We cannot stress enough how unusual, special and intriguing this cache of ‘No Motto’ $5 Liberty Half Eagles truly is. These pieces have the allure, rarity and intrigue of coins worth many times more – yet are available for an inexplicable bargain price. All coins in this European find are graded XF40 or finer by PCGS.
Call us at 800-831-0007 or send us an email to purchase your rare ‘No Motto’ $5 Liberties!
Disclaimer: Prices are subject to change based on product availability and market fluctuation. Minimum purchase of 2 coins required. Free shipping, handling and insurance for purchases of 10 coins or more. Prices reflected are for cash, check, or wire transfer only. Offer expires March 17, 2017.