PCGS/CAC MS62 1864-S $20.00

The discovery of the S.S. Brother Jonathan and the S.S. Republic forever changed the rarity profile for the 1864-S. Formerly almost impossible to locate better than baggy MS60, this date is still scarce in properly graded MS62 and rare finer.

Although not acknowledged on the holder by PCGS, this example is almost certainly ex BroJo as these coins tend to look less conserved than their Republic counterparts. The surfaces are remarkably clean for the issue and exhibit a good amount of luster under orange-gold colors. If not for a few abrasions on the cheek, I feel that this coin could have graded MS63.

The only auction comparable for a PCGS/CAC MS62 1864-S double eagle is Stacks Bowers 4/2024: 6256 at $31,200. That coin came from the Fairmont hoard and while 1000% original, it was a bit dingy and scuffy.

Take a look at the CAC population (see below) to get a good handle on the true rarity of the 1864-S $20 in this high of a grade. Also, take a look at the pricing on MS63 examples of this date; the most recent APR’s for PCGS graded examples in this range are $45,000 (3/2023); $60,000 (11/2022); and $50,400 (4/2022) and none of these APR’s are for a CAC approved piece.

CAC has approved four in MS62 with only three finer.

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