1859-O $10.00 PCGS AU53 CAC

Old Green Holder. By today's standards I think this coin is closer to grading AU55 and it is clearly among the finest known of this rare date. The 1859-O is the second rarest eagle from this mint, trailing the low mintage 1883-O. Only 2,300 were struck and it is estimated that four to five dozen are known today with most in the VF35 to EF45 range. In AU, the 1859-O eagle is very rare, especially with natural color and surfaces. This piece may possibly trace its origin to a European source as it has the sort of dirty two-tone appearance that is seen on some American gold coins of this era that were sent overseas. The obverse and reverse show deep greenish and orange-gold color with a good deal of luster below; the high spots are a bit lighter in hue. The strike is about average for the date with some weakness at the radial lines in the stars but the centers are nicely detailed. No serious marks can be seen with the naked eye and the eye appeal is really exceptional for an issue that is seldom seen with a decent appearance; let alone a good one. The last APR for an 1859-O eagle in AU53 is Goldberg 9/10: 2977 at $21,850 but this coin was bright and low end in my opinion. Since 2000. there have been just two other AU53's sold with the best of these being Heritage 6/05: 7908 (an NGC AU53) which brought $28,750. For many years, the 1859-O was the highest priced New Orleans eagle but it has been overtaken by the 1883-O. An 1883-O in AU53 to AU55 with great eye appeal could bring $75,000-85,000 in today's market which sort of leads me to think that choice examples of the 1859-O are currently undervalued. This statement makes even more sense considering how popular Liberty Head eagles have become in the last two or three years. An important coin!

1854-O Small Date $10.00 NGC AU53

Small Date variety. This choice, original coin shows deep, attractive green-gold color and there is a good deal of dirt in the recesses. I purchased this coin from a dealer who imports American gold coins from Europe and this piece had never seen the light of day in the American coin market until now. It is high end for the grade and as nice as examples that I have seen in AU55 holders. While typically regarded as the more common of the two varieties of 1854-O eagle, I actually see fewer choice Small Dates than I do of the more photogenic Large Date.

1858 $10.00 NGC AU50

Going back a few decades, the 1858 was regarded as one of the rarest Liberty Head eagles. In fact, it was among the more desirable Liberty Head gold issues of any denomination. As the eagle series became more collected and better researched, it was learned that other dates were rarer but the 1858 has, in recent years, sort of unfairly lost some of its mojo. Only 2,521 were struck and of these no more than four or five dozen are known. The present example is among the very few 1858 eagles I have seen that has original color and it is also far less abraded than usual. This coin has even medium to deep green-gold color with some darkening on the highlights which give it almost a sort of "Euro" look. There are scattered abrasions on the surfaces including a cluster in the left obverse but these are far fewer than normal for the date. Both sides have some dirt lodged in the protected areas and there is a clump located above the AT in STATES. There have only been two AU50 examples sold at auction in the last bdecade (both graded by NGC) and they both brought $10,350 in 2005 and 2008, respectively. This example is considerably nicer and the market for this series is much stronger in 2012. A very important coin for the advanced specialist.

1874 $10.00 PCGS MS62

The 1874 is basically the only Philadelphia eagle struck between this year and going back to the early 1860's that can be found from time to time in Uncirculated grades. When available, most are seen in the MS60 to MS61 range and properly graded MS62's are scarce. This piece has a very fresh appearance with nice luster and pleasing green-gold fields that are contrasted by orange-gold borders. There are a few scattered abrasions on the obverse that limit the grade but the originality of this piece makes it very appealing. The last APR for a PCGS MS62 is Heritage 4/11: 6649 which brought $4,025 and which was, in my opinion, not quite as nice as this example in spite of being approved by CAC. With this series becoming more and more popular, good values such as this are becoming more and more limited.

1891-CC $10.00 NGC MS61

Fresh from Europe and beautifully toned with deep yellow-gold that shades to pale orange in the fields and is contrasted by deeper highlights. Very high end for the grade with just a few light ticks at the central obverse keeping this from grading at least a point higher. The best available quality for a CC eagle at less than $2,000.

1871-S $10.00 NGC AU55

Most of the San Francisco eagles produced from 1858 through 1870 are next to impossible to locate in AU50 and higher grades. The 1871-S, while by no means common in this range, is slightly more available. This example shows nice naural golden-orange color and has a considerable amount of natural luster on both the obverse and reverse. What appears to be a planchet defect in the left obverse field near ther third star is actually an interesting die crack which is seen on about a quarter of all the known 1871-S eagles. In this case, it is quite large and this is probably among the final coins struck before the obverse die broke. The 1871-S remains unknown in strict Uncirculated and it is extremely rare in properly graded AU58. The PCGS AU55+ that sold as Heritage 9/11: 4384 brought a very strong $11,500, heralding a new-found level of respect for this date amongst collectors.

1883-CC $10.00 NGC AU58

The 1883-CC is the rarest CC eagle in high grades struck after 1879. It is most often found in the EF40 to AU50 range and many examples (depending on the die variety) are seen with very weak strikes. This highly lustrous piece shows a bare minimum of wear but it does have signs of contact from being knocked around loose while being shipped overseas in a bag. The color is a pleasing light yellow-green with a hint of reddish around the stars and the reverse device. It is extrermely well struck with detail not often seen on this issue. In Uncirculated, the 1883-CC is nearly unobtainable and I doubt if more than three or four exist. Properly graded AU58's are far and away the best most collectors can hope for (and they are priced at around one-third what a so-so MS61 would bring, if available...) The last NGC AU58 to sell at auction was Lot 7106 in the Heritage January 2011 extravaganza and it brought $6,325; the color on that coin can be charitably described as "a bit funky."

1864-S $10.00 PCGS VF30 CAC

With the exception of the 1875, the 1864-S is the rarest Liberty Head eagle. There are fewer than two dozen known and years can go by without the advanced collector having an opportunity to acquire an example. This fresh piece, which was just graded by PCGS after being off the market for decades, is a "gem" for the grade despite being "only" a VF30. Detail-wise, it is close to being a full EF and I think PCGS was conservative due to the weakness of strike on the eagle's neck feathers which is diagnostic for the date. The color is lovely with deep russet shades which change to iridescence at the date and the left stars; the reverse has a natural ring of concentric color at the border. This coin has the look of a piece that might have been stored in a leather pouch and the surfaces are incredibly clean for the issue. In the recent "secret" Rumsey auction held in February, a vastly inferior PCGS VF30 with signs of cleaning and a large reverse scratch sold for $34,500 with the buyer's premium. This piece is far, far nicer and it represents a fantastic opportunity for the advanced collector to obtain one of the rarest gold coins ever produced at the San Francisco mint.

1889 $10.00 PCGS MS61

Not many people are aware of this date's true scarcity but only 4,485 business strikes were made and until some AU55 to MS61 examples were located in Europe a few years ago, it was almost never seen above the AU50 level. This bright lustrous example is typical for the issue in that it has a number of abrasions on the surfaces; it seems that most of the survivors were shipped loose in bags to Europe and picked up some chatter on the way. There is no rub on the high spots and enough body remains to suggest a grade of at least a point higher. The last PCGS MS61 to appear at auction was Heritage 11/11: 4379 that sold for $6,038. That coin was just a bit nicer than the present example (and it had a CAC sticker) but this coin is priced at a more affordable level. A good value for the savvy collector of Liberty Head eagles