Sold by Douglas Winter Numismatics: Very Rare Uncirculated 1862-S Half Eagle

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Sold by Douglas Winter Numismatics: Very Rare Uncirculated 1862-S Half Eagle

The 1862-S is the second rarest Civil War era half eagle from the San Francisco mint, trailing only the 1864-S. Of the 9,500 struck, only 45-55 are known with most in lower grades. The reasons for this low survival rate include heavy use in commerce, pervasive meltings, and a lack of local collectors or dealers to save any pieces, as occurred with certain Philadelphia issues from this period.

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1862-S $2.50 PCGS AU58

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i just purchased the finest known example of this date, a PCGS MS63+, for $43,700 at the recent Goldberg 2/12 sale of the Helem collection. The present example, while obviously not in the same league, is still far, far above-average for the date and grade. Not to mention the fact that it is around one sixth of the price (!) The 1862-S is among the rarest SF quarter eagles in all grades and it is extremely rare in Uncirculated with just two or three known. I am aware of maybe four or five properly graded AU58's of which this example is among the nicest. It is well struck, lightly worn and lustrous with just a few small marks seen on the obverse. It is likely that this coin never saw actual circulation and the reason that it grades "58" is due to some handling and light rubbing on the high spots. Coins like this seem undervalued to me in comparison to the C and D mint quarter eagles from the 1850's.

1862-S $20.00 NGC AU53 CAC

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The 1862-S remains one of the harder Civil War era San Francisco double eagles to find in higher grades. The best examples that are generally seen are in the AU53 to AU58 range, and more often than not, coins that qualify as such have numerous abrasions and no natural color. This lightly worn piece shows exceptional rich russet-gold hues and nice, lightly marked surfaces. There are a few minor abrasions in the left obverse field that are not inconsistent with the assigned grade.