SOLD – $10.00 – 1865-S/inv186 NGC AU55

1865-inv186-S_10_N55.jpg
1865-inv186-S_10_N55.jpg
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SOLD – $10.00 – 1865-S/inv186 NGC AU55

25,000.00

Serial Number 3573810-001

PCGS Lookup Number 8643

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Inverted Date variety.

This spectacular variety was produced when the 186 in the date punch was entered upside down and then corrected. While this error exists on other non-gold denominations it is unique in the annals of US gold issues and it is clearly visible to the naked eye. Around 50 or so are known with most in the VF-EF grade range. In Uncirculated, this variety is unique; a PCGS MS64 was found on the Brother Jonathan and it brought $115,000 back in 1999.

As on all known 1865-S Inverted Date eagles, this piece shows a “sunken” appearance at the centers as well as weakness on the radial lines in the stars. The obverse has some ticks in the fields but is lustrous with light golden-rose color; the reverse is more choice with few marks and uncommonly frosty luster below medium orange-gold and light rose color. This is the finest example of this variety that I’ve handled in close to five years.

Heritage 3/14: 3067, graded AU55 by PCGS, sold for $27,025 and it displayed questionable toning. An NGC AU53 example, sold as Heritage 2/14: 5380, realized $21,738. No AU55 1865-S Inverted Date eagles have crossed the auction block since February 2003.

This is clearly a Condition Census example of a formerly-ignored issue which has suddenly become popular. A number of years may pass before a comparable specimen is made available to collectors.