RARE AND POPULAR PCGS MS61 1863

The 1863 is the third rarest Type One double eagle from the Philadelphia mint, after the 1859 and the 1862. It is not often seen above the AU53 to AU55 range and it is rare in Uncirculated. Until a group of higher grade pieces was uncovered a few years ago as part of the S.S. Republic treasure, this date was nearly impossible to find in Uncirculated and there are still just two to three dozen known, mostly in the MS60 to MS61 range.

This piece is clearly not from the S.S. Republic hoard and is likely from a European bank as it exhibits deep natural orange-gold color with darker highlights. The eye appeal is very high for the issue and this piece clearly has never been lightened or "messed with" in any way.

Only two MS61 1863 double eagles have appeared for sale at auction since 2009 and both were graded by PCGS and not approved by CAC. One sold cheaply for $28,750 as Heritage 4/12: 5332 (it had a detracting spot on the obverse) while the other, almost certainly from the above-referenced hoard, realized $31,625 as Stacks Bowers 2012 ANA: 7760.

This is an important coin which should attract the attention of both Type One double eagle specialists and Civil War gold aficionados.

From the Palos Verdes Collection, Part One.

For more information on this date, click here.