$20.00 - 1856 PCGS MS61 CAC

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$20.00 - 1856 PCGS MS61 CAC

15,500.00

Date    1856
Grade    PCGS MS61 CAC
PCGS Price Guide    14500
Population (PCGS)    17/13
Population (NGC)      10/4
Population (NGC)       3/1
Serial Number    8917.61/84984466
PCGS Lookup Number    8917

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RARE AND CHOICE PCGS/CAC MS61 1856 $20.00

The 1856 is the fourth rarest P Mint Type One double eagle made before the Civil War, after the 1862, 1859 and the 1854 Large Date. The 1856 is scarce and underappreciated in Uncirculated with an estimated 15-25 known. This date is rare in properly graded MS61 and it is unknown finer than MS63. The best I am aware of is the PCGS MS63 which sold for $41,125 in the 2014 ANA auction.

The present example is fresh to the market and it is among the finest 1856 double eagles I have seen. It is 100% original with lovely soft rose undertones beneath natural orange-gold coloration. There is no wear or rub on either side and the surfaces are quite choice for the date and the grade with most of the visible scuffs clustered in the left obverse field.

In their January 2017 auction, Heritage sold an NGC MS61 with a detracting grease stain on the obverse for $14,100. Only three PCGS MS61 1856 double eagles have sold at auction since 2006. The most recent of these sales was for $17,250 for a non-CAC coin in the 2012 ANA while a comparable PCGS MS61 with CAC approval brought $16,100 as Heritage 4/11: 5463.

A PCGS MS62 hasn't sold at auction in more than a decade and if you can find an MS63 (good luck!) it will set you back in excess of $40,000. That, in a nutshell, neatly summarizes the importance of this coin.

CAC has approved three in this grade with just one finer (MS62).