The San Francisco Mint struck only 9,000 examples of the No Motto Liberty type in 1866 before dies for the new Motto design arrived from the parent mint in Philadelphia. With S-mint gold coinage of the era seeing heavy commercial use, the typical survivor is well worn, if not also impaired. In truth survivors of this issue are few and far between, most examples of the issue failing to survive exportation and eventual melting. Particularly elusive in the finest circulated grades such as Choice EF and AU, the 1866-S No Motto was unknown in Mint State until PCGS' certification of a premium quality MS-61.

The example to the left was sold by Stack's Bowers Galleries in the March 2017 Baltimore Auction, where it realized $50,525.