RARE CAC APPROVED MS61 1856

Eureka Hoard pedigree.

This date (along with the 1855) is extremely underrated in higher grades. There are fewer than two dozen 1856 double eagles known in Uncirculated with nearly all in the MS60 to MS62 range. When available in Uncirculated (which tends to be at a rate of around once per year), the typical piece is very scuffy and lacks originality.

This is an outstanding example which, as far as I know, hasn't been attempted to be "crossed over" at PCGS. It has a fresh, vibrant appearance which is suggestive of a coin which has never been cleaned or dipped. The surfaces are choice for the date and grade and show nice rich orange-gold and greenish hues on both sides. This is one of the two or three nicest MS61 1856 double eagles I have seen.

A CAC approved PCGS MS61 sold for $16,100 as Heritage 4/11: 5463 and this coin wasn't as choice--in my opinion--as the current offering. A non-CAC PCGS MS61 brought $17,250 as Stacks Bowers 2012 ANA: 11755.

It is not likely that a significantly finer 1856 double eagle will be available to advanced collectors of this series any time soon.

CAC has approved two in this grade with none finer.

From the Palos Verdes Collection, Part One.

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