VERY RARE PCGS MS61 1862 DOUBLE EAGLE

Along with the 1859, this is the rarest date(s) from Philadelphia in the Type One series. I estimate that as few as a dozen are known in Uncirculated (mostly in MS60 to MS61) and examples are available in this range at a rate of around once every two to three years.

I sold this coin earlier in the year and it had been off the market for close to two decades. I still think it could wind-up in a 61+ or even a 62 holder holder as it is amazingly clean for the issue with an almost total absence of marks which break into the surface. The high spots are free of wear and the fields lack any luster breaks as seen on so many double eagles of this era in MS61 or MS62. The strike is sharp, the luster is grainy and intense and all of this rests beneath a layer of pale rose and natural light orange-gold.

No PCGS MS61 1862 double eagle has been sold at auction since 1995. A nice PCGS MS62 sold for $70,500 as Stacks Bowers 2014 ANA: 12025.

With nice PCGS AU58's now worth in excess of $30,000 I think this coin is very fairly priced and it represents an important opportunity for the advanced Type One or Civil War specialist.

From the Palos Verdes Collection Part One.

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