The San Francisco Mint opened in 1854 and it struck gold coins through 1930. There were six different denominations produced. This facility issued some of the rarest individual gold coins in the annals of American numismatics, as well as some of the more common.

The following list represents a dozen San Francisco gold coins which, in my opinion, represent the crème de la crème of issues from this mint. I am not including coins which are off the market due to being impounded in museum collections (thus, I’ve decided not to include the unique 1870-S Three Dollar), and my list is biased towards 19th century types as the 20th century coins which are the “best” from this mint tend to be condition rarities.

It was difficult to limit myself to just a dozen coins and I’ve included an Honorable Mention category. But even with that group, I am still leaving out a number of coins which would cornerstones of even the greatest specialized collections.

1. 1854-S $2.50, NGC EF45, The Lee Family Specimen

The 1854-S is far and away the rarest quarter eagle from San Francisco and it is among the very rarest of all Liberty Head quarter eagles. There are around a dozen known in all grades with most in VF or lower. The finest graded, numerically, is the Pogue/Bass PCGS AU50 which recently sold for $384,000 after being off the market for 15+ years.

In my opinion, the “best” 1854-S is the example which I purchased for $253,000 in the September 2005 ANR auction. It is a meaningful coin for two reasons. The first is its backstory. It had resided in the holdings of an old Chinese family and it was discovered at the 2005 Summer ANA convention when members of the family walked the coin to the NGC table for authentication and grading. NGC asked me to look at the coin to verify its authenticity and it was a highlight of the show for me.

The exact date of the ANR sale was one of the worst of my life. My mother had died that morning and I spent the hours before the auction locked in my hotel room crying my eyes out. Around two hours before the sale began, I took a long walk through the streets of Beverly Hills to get my wits about me and even after this, I was numb. After I purchased the coin, I can remember thinking “this one’s for you, Mom,” and to this day, I equate the Lee 1854-S with my mother.

**2. 1856-S $2.50, PCGS/CAC MS67, S.S. Central America Pedigree**

From the standpoint of condition, this was the single best quarter eagle found in the first S.S. Central America recovery. It was first sold in the Christie’s December 2000 auction where it went very reasonably at $46,000. It last sold for $85,188 at the September 2015 Goldberg auction.

It always surprised me that there weren’t a few more 1856-S or 1857-S quarter eagles in the SSCA recoveries which weren’t as superb as the double eagles. I would assume that this had to do with how the double eagles were packed and that they survived the wreckage better due to greater care given to them in 1857. It is also likely that the double eagles were cargo while the small denomination coins belonged to the passengers.

3. 1857-S $3.00, S.S. Central America #2 Pedigree

You can make a pretty strong case that this is the single coolest Federal gold coin to be recovered from the S.S. Central America. The coin is amazing in every respect and it is, by a large margin, the single best branch mint Three Dollar gold piece of any date.

Prior to the second recovery of the SSCA, this date was very rare in Uncirculated. It is still very scarce, and there were just a small handful of pieces at the MS63 and higher level.

4. 1854-S $5.00 PCGS/CAC AU58+, The Hansen/Pogue/Eliasberg Specimen

The unique 1870-S Three Dollar is rarer, but to me the 1854-S has always been the “best” gold coin from this mint. It is a non-controversial issue made for circulation (but only 268 were struck), and there are just three known with one in the Smithsonian.

The Eliasberg 1854-S has been one of my favorite US gold coins since I first saw it decades ago. The Pogue family bought it for a very reasonable $187,000 in 1982, and held until March 2020 when collector DL Hansen acquired it for $1,920,000. Had another lower grade example (which still realized $2,160,000 and then resold to a dealer for more) not appeared in 2018 and had the Eliasberg coin not been offered at the beginning of The Pandemic, I honestly believe this coin would have sold for close to $4,000,000.

For those of us who love San Francisco gold, aren’t you a bit surprised that at least one or two 1854-S half eagles (and quarter eagles for that matter) didn’t turn up in the S.S. Central America recoveries? They would have had to have been found with the passenger’s belongings, but it seems likely to me that by 1857, these two issues were already very rare with many having been melted or at least out of circulation.

5. 1864-S $5.00 PCGS/CAC MS65+, The Bass/Norweb Specimen

Only 3,888 examples of this date were made, and the 1864-S is the rarest collectable half eagle from San Francisco. Most of the 30-35 known are much lower grade, and this date is very rare in properly graded About Uncirculated. In Uncirculated it is unique.

The only known Uncirculated 1864-S half eagle is a marvelous Gem which grades MS65+. It has been in the Stellar Collection since this collector purchased it for $178,250 out of the Bass II sale in October 1999. It was earlier in the Norweb sale (October 1987), and it first sold in the April 1956 Melish auction.

The coin is absolutely pristine with amazing color and frost. It is flatly struck on the stars (as are all 1864-S half eagles) but it is head and shoulders finer than the next best example which is a PCGS AU55.

6. 1876-S $5.00, NGC MS65 The Garrett Specimen

This is another coin which likely shouldn’t exist. As with the 1864-S half eagle mentioned above, the 1876-S is unique in Uncirculated and the sole example is a Gem. This coin was sold in the 1979 Garrett auction and, remarkably, it hasn’t resurfaced since then.

Why does this coin (and the 1864-S) exist? I have a theory. Every year, the branch mints sent a small number of coins to Philadelphia for assay. It seems possible that on a few occasions, a member of the committee, said “hey, that’s an interesting coin, might as well trade this five dollar bill for a shiny new 1876-S half eagle.” And this could well be why these “freaks” have survived.

7. 1894-S $5.00, NGC MS69, The Eliasberg/Clapp Specimen

John Clapp, Sr. obtained this coin from the San Francisco mint at face value in November, 1894. No less an expert than David Akers regarded this coin as the single best business strike US gold coin struck prior to 1900. It set a then-record for any half eagle from San Francisco when it sold for $264,000 in Auction ’90, but when it was re-offered in Heritage’s 2014 FUN auction the price regressed to $176,250.

John Clapp is not well-remembered today but I rank him as the greatest collector of the early 20th century. He collected by date and mintmark when this was not the fashion, and he had the incredibly brilliant idea of buying coins directly from the mint for his sets. Today, there are still a number of Superb Gems pedigreed to Clapp; these later went en bloc to Louis Eliasberg when he purchased the Clapp Collection through Stack’s in 1942.

**8. 1865-S Inverted Date $10.00, PCGS MS64, S.S. Brother Jonathan Pedigree**

While not as well-known as with others coins from this source, this is one of the very best pieces located. Not only is it the single finest No Motto Liberty Head eagle from this mint that I’ve ever seen, it is a major rarity in high grades. In fact, it is unique in Uncirculated with the next best known at PCGS grading AU55.
This coin sold for $115,000 in the Bowers and Merena May 1999 auction, and later brought a very reasonable $81,650 in this firm’s August 2001 auction.

To my mind, this is a coin which bridges the passion for shipwreck rarities with true numismatic scarcity better than any other San Francisco coin of this denomination.

9. 1899-S $10.00, PCGS/CAC MS68+, Simpson-Hall Pedigree

This is the finest 19th century Liberty Head eagle from San Francisco and it is another coin which traces its existence to the foresightedness of John Clapp. It was obtained in December 1899 at face value from the San Francisco mint, and it was sold to Louis Eliasberg in 1942.

This coin brought just $13,200 in the October 1982 Eliasberg auction but it brought $195,000 when sold in Heritage’s 2010 FUN auction to dealer David Hall. It is now owned by collector Bob Simpson.

I’d have to rate this as the best San Francisco $10 Lib I have ever seen, but the honors for the best example of this type, in my opinion, still belongs to the Simpson/Eliasberg/Clapp 1899-O, also graded MS68+ by PCGS and approved by CAC.

10. 1920-S $10.00 PCGS/CAC MS67+, The Simpson/Duckor Specimen

While a 1908-S is known in PCGS MS68+, to me the Simpson/Duckor 1920-S is easily the most important 20th century ten dollar gold piece from San Francisco. This coin is sensationally choice and it is extremely rare in Gem as well.

Turning the clock back to March 2007, I can remember sitting next to my good friend Steve Duckor as his exceptional collection of Indian Head eagles was getting ready to sell. When the 1920-S opened for bidding, Steve was nervous but as the price soared past the $1,000,000 mark, Steve, normally the Coolest Guy in the Room looked like he was going to cry. With the premium, the coin hammered for $1,725,000. This remains the record price for any San Francisco eagle sold at auction and for any business strike Indian Head eagle.

11. 1866-S No Motto $20.00, PCGS MS62, The Saddle Ridge Specimen

In the summer of 2013, you couldn’t escape the hype of the Saddle Ridge Hoard. A short seven years later, it has become difficult to locate coins from this hoard in their original holders. While the coins from the 1883-1893 era were the choicest in terms of grade, the best coin in the deal was the remarkable PCGS MS62 1866-S No Motto. This coin remains the best example of this date I’ve ever seen, and one of only two or three legitimately Uncirculated pieces known.

For many years, this important transitional issue was the most overlooked Type One double eagle. It was every bit as rare as the famous 1861-S Paquet but it sold for a fraction of the price. The 1866-S No Motto became popular in the mid-1990s as this design became avidly collected by date. I take some of the credit for it, while the exceptional marketing done by Monaco Rare Coins was another important factor.

A record price of $246,750 was set by an NGC MS62 example sold as Heritage 2005 ANA: 5712, and the Saddle Ridge coin would no doubt sell for more than this today if offered at auction.

12. 1927-S $20.00, PCGS/CAC MS67, The Pogue Specimen

It was only fitting that the 12th and final coin on this list was a St. Gaudens double eagle. I thought long and hard about this and pieces that made my final countdown included the PCGS MS68 1910-S, the Duckor/Eliasberg PCGS MS66 1920-S, the Simpson/Price 1924-S in PCGS/CAC MS67, and the PCGS MS68 1925-S. But I chose a coin which to me is the ultimate San Francisco Saint: the Pogue/Duckor/Morse PCGS/CAC MS67 1927-S which just sold for $264,000.

This is a coin with everything going for it. First and foremost, it is exceptionally beautiful, even down to its large red copper spot on the right obverse. Secondly, it is a very rare coin in Gem with an estimated four or five known. Finally, its origin can be traced all the way back to 1927 when it was obtained via a donation by the Museum of Connecticut History.

HONORABLE MENTIONS:

1856-S Gold $1.00, PCGS MS65+, SSCA #2 Pedigree
1854-S $2.50, PCGS AU50, Pogue/Bass Specimen
1859-S $2.50, PCGS MS65, The only Gem SF quarter eagle not from a shipwreck.
1863-S $2.50, PCGS MS64+, Eliasberg Pedigree
1865-S $5.00, PCGS MS64, S.S. Brother Jonathan Pedigree
1899-S $5.00, PCGS MS68PL, Eliasberg/Clapp Pedigree
1908-S $5.00, PCGS MS68, the only Indian Head half eagle of any date to be graded MS68 or finer
1857-S $10.00, PCGS MS64+, SSCA #2 Pedigree
1902-S $10.00, PCGS MS68+, Eliasberg/Clapp Pedigree
1910-S $20.00, PCGS MS68
1924-S $20.00, PCGS MS67, Simpson/Price Pedigree
1925-S $20.00, PCGS MS68

I would welcome your comments on what are the 12 greatest gold coins from the San Francisco and invite you to make comments below.

Are you interested in collecting exceptional gold coins from the San Francisco mint? As the world’s leading expert on these coins, I can guide you to assemble a meaningful set. Whether you want to collect by date, by design, by denomination or you just want some really cool coins, feel free to contact me by phone at (214) 675-9897 or by email at dwn@ont.com

SAN FRANCISCO GOLD