RARE CIVIL WAR ISSUE PCGS MS62 1864

The 1864 was the last of the three rare Philadelphia Civil War issue double eagles to be "discovered" by collectors. It is now widely-known that this date is nearly equal to the 1863 in terms of rarity, especially in higher grades.

While not designated as such by PCGS, this example is likely one of the 17 Uncirculated 1864 double eagles sourced from the S.S. Republic. I make this assumption based on the coin's naked eye appearance which is exceptional with hard, frosty luster beneath rich yellow-gold color which intensifies at the reverse periphery. A few shallow scuffs in the upper left obverse limit the grade; the reverse is t least an MS63+ to MS64 on its own accord.

Three PCGS MS62 1864 double eagles have crossed the auction block since April 2011. The most recent sale was for $47,000 as Stacks Bowers 2014 ANA: 12029 while another example realized $52,875 as Heritage 1/14: 5531.

There are only a small handful of comparable 1864 double eagles extent and it is doubtful that a finer piece will be made available to advanced Type One or Civil War collectors any time soon.

From the Palos Verdes Collection, Part One.

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