1875 $20.00 NGC MS62+

Around a month ago I owned a virtual twin to this coin and it sold quickly to a type collector who was searching for an affordable high grade Type Two double eagle. This second example is just a few obverse ticks away from being an $8,000+ coin and, I believe, it represents great value for the collector who wants a high quality example of this conditionally scarce type.

CAC has approved nineteen examples of this date in MS62 (they do not breakdown these figures into MS62+) with just one finer (an MS63).

1875 $20.00 NGC MS62+ CAC

If you collect U.S. gold coins by type, you probably are aware that the Type Two double eagle is an issue that gets noticeably rarer (and more expensive) as you go up the grading scale. An MS63 will cost you $8,000 or so and I just saw a nice PCGS MS64 trade between dealers at the Denver ANA show in the mid-$30's. This makes a nice MS62+ a great value and the perfect Type Two type coin for the collector on a budget. This piece has superb deep rich orange-gold color and there are just a few too many tiny scuffs in the left obverse to call it a full MS63 (but, boy, is it close...). NGC has graded just eleven 1875 double eagles in MS62+ with no plus grades higher. Coins like this make a lot of sense to me and I doubt if all but a handful of ultra-savvy collectors could tell the difference between this MS62+ and and MS63 if the labels in the slab were covered.

Only one 1875 double eagle has been approved by CAC that grades higher than MS62+.

1875 $2.50 NGC PR65 UCAM

One of only 20 Proofs struck. Unlike the other low mintage Proof quarter eagles of this era, the 1875 is a rarity in business strike format as well with a mintage of just 400. In Proof, there are an estimated dozen or so 1875 quarter eagles of which maybe four or five Gems are known. The present example has the strongest cameo contrast that I have seen on a Proof of this date and it certainly deserves to have received the Ultra Cameo modifier. It has extremely stark black and white contrast between the devices and the fields and the visual impact is really quite stunning. There are no significant hairlines or lintmarks; a small spot on the obverse serves as quick identification. In Heritage's January 2011 sale of the Miller Collection, there were two Proofs of this date that were graded many years ago as PR64 by NGC but both seemingly were destined to upgrade to PR65 by today's standards; they realized $46,000 and $47,294, respectively. This is one of just two graded PR65 Ultra Cameo by NGC and it is amongst the finest known examples of one of the the rarest single dates in the Liberty Head quarter eagle series. Many people do not realize this, but a Gem Proof 1875 quarter eagle is rarer than the legendary Three Dollar gold piece of this date and the latter is a $250,000+ coin in Gem Proof.

Ex Heritage 9/08: 3351 where it sold for $48,875