1877 $20.00 PCGS MS62 CAC

As with many of the Philadelphia and San Francisco double eagles made during the first few years of the Type Three design, the 1877 is an issue that is common in circulated grades and not all that hard to find in MS60 to MS61. High end, choice MS62's are scarce and this date is quite rare in MS63. The combined PCGS/NGC population in MS63 and above is 35 but this is inflated by resubmissions as evidenced by the fact that none have sold at auction in MS63 since April 2010 when an NGC MS63 brought $12,650 in a Heritage sale. This piece is lustrous and choice with good color and a very pleasing appearance. Great value considering the 3x jump to the next grade!

CAC has approved five in this grade with just one finer.

1877 $20.00 PCGS MS62+

The 1877 is a numismatically significant double eagle as it is the first year of the new Type Three reverse with the denomination spelled out in full as TWENTY DOLLARS. The 1877 double eagle is also a condition rarity with properly graded MS62's being about as nice as this issue is found. In MS63, the 1877 is a very rare coin and it is nearly unobtainable choicer than this. The present example has superb eye appeal with semi-prooflike surfaces that are graced with lovely natural light lemon-gold and rose colors. This date is typically found frosty and with innumerable bagmarks but this piece is incredibly clean and it appears to be amongst the very first struck from this die pair. A few small marks on the cheek and neck of Liberty are probably what keep this coin from grading a full MS63 but I think it is considerably nicer than the last example I have seen graded as such, Heritage 4/10: 2321, slabbed by NGC, which brought $12,650. This is the only 1877 double eagle graded MS62+ by PCGS. They have graded eighteen in MS63 and one in MS64. I think this coin is a wonderful value as a PCGS MS63, which is not likely to be any nicer than this, would probably cost you close to three times the price.

1877 $3.00 NGC AU58PL

The 1877 is among the rarest business strikes Three Dollar gold pieces struck at the Philadelphia mint. There were just 1,400 made and there are well under 100 known in all grades. This fully prooflike piece is clearly a business strike as it has some frost in the surfaces and the rims lack the squared configuration seen on Proofs. It is very lightly worn in the fields and on the high spots with pleasing peripheral color on the obverse. A few small ticks are visible in the fields but this piece is uncommonly clean and wholesome for an issue that is seldom seen with good eye appeal. In addition to the regular population figures listed below, NGC has graded two examples in AU58 with a PL designation and five finer than this. The last NGC AU58PL to sell at auction was Heritage 2008 ANA: 1921 which brought $20,700. In my opinion, the present example is nicer and the market seems more appreciative of truly rare coins like 1877 Threes in early 2012 than it did in the Summer of 2008. This is one of two approved by CAC in this grade with none better. An important piece for the specialist.

1877 $2.50 PCGS MS63 CAC

Even if you have no interest in purchasing this coin, click on the photo icon and take a long glimpse at its appearance: it has the "look" that I find more appealing than on any other gold coin. The luster is very intense with a hybrid appearance that combines rich frostiness with flashy reflective luster. This excellent appearance is compounded by superb natural medium yellow-gold color that shades towards rose and green hues as the coin tilts towards a light source. The obverse is a virtual Gem in appearance; the reverse shows a few very hard-to-find marks at TE in STATES. The 1877 is a rare, low mintage issue with just 1,652 struck. It is a bit less rare overall than this tiny figure would suggest but it is rare in Uncirculated and very rare in MS65 or higher. There are no Gems known and maybe three exist in MS64 with the last one, Heritage 10/11: 4731 (graded by NGC and approved by CAC) having been purchased by me for $14,950. No PCGS MS63 1877 quarter eagles have sold at auction since October 1999 when Bass II: 593 brought $8,740. A great coin that combines beauty, rarity and eye appeal in one neat package.