1865-S $20.00 NGC MS63 S.S. Republic CAC

S.S. Republic pedigree. Small S variety. There are a number of amazing, high grade 1865-S double eagles known from two wrecks: the S.S. Brother Jonathan and the S.S. Republic. I prefer the look of the coins from the latter as the Bro Jo coins tend to have very heavily matte-like surfaces from exposure to seawater while the Republic coins have a far more original appearance. This piece is among the best looking 1865-S double eagles that I have seen with wonderful luster and just a small number of marks on the surface. A small amount of mint-made porosity near star six is what probably caused NGC to be very conservative when grading this coin but it has the naked-eye appearance of an MS64; if not a Gem. There are a total of 51 MS63's from this wreck for the date but only eleven have been graded higher which makes it a harder coin to find nice than its counterpart from the Brother Jonathan. A perfect coin for the double eagle collector who wants one choice, interesting coin from each of the major shipwrecks.

1855-S $20.00 NGC MS62

Before the discovery of a few choice Uncirculated examples in the S.S. Central America, the 1855-S was exceedingly rare in Uncirculated. It remains quite rare in Mint State, especially at the MS62 and higher level. Both services show a population of six in this grade with just two finer and given resubmissions, this probably means that around a half dozen are known in MS62 with another two or three better. This example doesn't appear to be from the SSCA treasure as it has a satiny look and no sign of seawater erosion in the surfaces. The color is a pleasing medium orange-gold hue with some rose around the devices. The surfaces are choice; a reverse grease stain at the F in OF through the top of the left wing serves as identification and it is mint-made. The last MS62 example of this date to sell at auction was Heritage 3/11: 4910, graded by PCGS, which brought $14,950. An important early San Francisco double eagle for the Type One specialist.

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.

1890-CC $20.00 PCGS AU55 CAC

Lustrous and nicely toned with some reddish-gold color on the obverse and deeper, more extensive hues at the lower reverse. For the grade, this piece is very clean and wholesome with minimal wear and the appearance of a full AU58. This is a perfect type coin for the collector who wants a single common date but very cosmetically appealing CC double eagle for his set.

CAC has approved 24 in AU55 with another 27 higher than this.

1890 $20.00 NGC MS62 CAC

The 1890 is one of my favorite "secret" dates in the Type Three series. It is only moderately scarce in MS60 and MS61 grades but it is a tough coin in MS62 and a very scarce to rare issue in MS63 and above. Its also expensive in MS63 with an example costing $8,000-10,000 depending on what it looks like. Which is why I think this high end MS62 is a great value at less than half the price of an MS63. It is totally original with a great "skin" and lovely rich orange-gold color. A few marks on the obverse narrowly keep this coin from an MS63 grade but it is truly high end for an MS62.

CAC has approved eight in this grade and only two finer.

1875 $20.00 NGC MS62+ CAC

If you collect U.S. gold coins by type, you probably are aware that the Type Two double eagle is an issue that gets noticeably rarer (and more expensive) as you go up the grading scale. An MS63 will cost you $8,000 or so and I just saw a nice PCGS MS64 trade between dealers at the Denver ANA show in the mid-$30's. This makes a nice MS62+ a great value and the perfect Type Two type coin for the collector on a budget. This piece has superb deep rich orange-gold color and there are just a few too many tiny scuffs in the left obverse to call it a full MS63 (but, boy, is it close...). NGC has graded just eleven 1875 double eagles in MS62+ with no plus grades higher. Coins like this make a lot of sense to me and I doubt if all but a handful of ultra-savvy collectors could tell the difference between this MS62+ and and MS63 if the labels in the slab were covered.

Only one 1875 double eagle has been approved by CAC that grades higher than MS62+.

1864-S $20.00 NGC EF45

The last of these affordable SF Type One double eagles and a coin that is a bit abraded but which has pleasing medium reddish-gold and orange color.

1863-S $20.00 NGC EF45

My personal favorite from this date run of SF Type One double eagles with dark, even green-gold surfaces that are contrasted by deeper hues on the relief details. Clean, original and caked with nearly 150+ years of dirt and grime, this piece represents excellent value for the collector/investor who likes the double-play of bullion and numismatic scarcity.

1861-S $20.00 NGC EF45

I purchased a nice little date run of choice "Euro" Type One double eagles at the Denver ANA show and all are characterized by dark, natural color. This Civil War date is very clean for the grade and has a good deal of luster at the peripheries. It is a tougher date although it brings virtually no premium over isses such as the 1863-S, 1864-S and the 1865-S.