While the reported mintage for this issue is a very high 154 coins, it is probable that many were melted after going unsold. Today, it is doubtful if more than forty or so survive with most in the PR63 to PR64 range. This example is tied with a few others as the finest 1860 gold dollar graded by a third-party service and I feel that items like this are tremendously undervalued when compared to other areas of United States numismatics. As for the coin itself, it is a full-blown Gem with great contrast and surfaces that are free of hairlines. There are a few microscopic planchet imperfections in the obverse fields as seen on nearly all gold Proofs of this era and the reverse can be quickly identifieid by the presence of four tiny mint-made lintmarks at the center. The last similar example to sell at auction was a PCGS/CAC PR66 (not given a cameo designation but close to Deep Cameo, in my opinion) that sold for a strong $27,600 i9n the Heritage 2012 FUN auction. Thie present piece is clearly finer than Heritage 1/07: 3367 (graded PR66 CAM by NGC that brought $19,550. An important coin for the advanced collector of gold dollars.
Most of the gold coinage dated 1860 from Philadelphia follows a similar pattern of rarity: it tends to be available in VF-EF grades but it is very scarce in properly graded AU58 and quite rare in Uncirculated. The half eagle of this year trails only the eagle as the rarest 1860-dated Philadelphia issue and it is quite underrated in AU58 as the current PCGS and NGC population figures suggest. This lightly circulated example shows good luster and a very sharp strike with full details seen at the centers. There are some scattered marks in the fields which is typical for the issue. For the money, this coin represents excellent value as do many of the No Motto half eagles from this mint.
CAC has approved two examples in this grade with none finer. A total of five have been approved for the date in all grades combined.
The 1860 double eagle sells for a reasonably small premium over the 1861 in this grade yet it is many times more scarce. And, relative scarcity aside, this "super slider" is as nice an AU58 Type One double eagle as you are going to find with great luster, lovely natural rose and orange-gold color and very pleasing surfaces which are far less abraded than normal for this issue. In fact, this piece has much better eye appeal than many Type One double eagles that are graded MS60 and MS61. A small grease stain on the reverse, located below the right scroll end, is mentioned for the sake of accuracy.
I'm going to let you in on a little secret. In terms of overall rarity, the 1860-P is actually harder to find than the far pricier and more coveted 1860-C and 1860-D half eagles. There were 19,763 struck but many were melted during the Civil War and, today, survivors are not often seen above AU50. This is a very choice, totally original "dirty gold" piece with lovely rose-gold and medium orange hues on the obverse and reverse. The lightly abraded surfaces are clean for the grade and there is a good deal of luster. A small toning spot at the tip of the nose serves as quick identification. An Uncirculated 1860 half eagle hasn't sold at auction since May 2006 and the present example has more character than most of the 58's that I have seen in the past five or so years.