Date…….1870 Grade…….PCGS MS61 CAC PCGS Price Guide…….21500 Population (PCGS)…….24/23 Population (NGC)………..17/18 Population (CAC)…………..6/4 Serial Number…….8957.61/35823305 PCGS Lookup Number…….8957
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$20.00 - 1870 PCGS MS61 CAC - $16500
RARE PCGS/CAC MS61 1870 DOUBLE EAGLE
The 1868-1871 date run represents the four scarcest Type Two double eagles from Philadelphia and the 1870 is very similar in high grade rarity to the 1871, making it the second most difficult date after the 1868. Examples of all four dates are included in a large hoard currently entering the market but very few of these grade higher than AU55 to AU58.
This is a very choice example for the date and grade which I tried a number of times at PCGS to grade MS62. It is undipped and unmolested with good luster seen below pleasing natural orange-gold and light rose color. Some clusters of abrasions (from being shipped in a bag) can be seen in the upper left obverse field and these limit the grade.
The last CAC approved MS61 1870 double eagle to sell at auction was an NGC MS61 which realized $19,975 as Heritage 4/17: 4323. A CAC approved PCGS MS61 sold as Heritage 6/15: 4348 realized $22,325.
The Type Two Liberty Head double eagle market is clearly unloved right now but I believe this will change shortly as demand is likely to be increased through marketing programs and by the availability of compelling coin such as this 1870 which represent great values at current levels.
CAC has approved seven in this grade with four finer (three in MS62 and one in MS63).