The 1854-S is historically significant as the first gold dollar from the San Francisco. It is also a scarce, undervalued issue in Uncirculated that is seldom seen above the MS61 to MS62 range. This example is strictly "new" with nice light rose and orange-gold colors and an excellent strike. A few small, scattered marks on the obverse keep this at the 61 level but the reverse is quite choice and it grades at least a point higher on its own. The last auction price realized for an MS61 example of this issue was Heritage 4/11: 6265 (graded by NGC) that sold for $2,990. Only five MS61's have appeared at auction since the beginning of 2005.