SOLD – $10.00 – 1877 NGC AU55+

1877_10_N55plus.jpg
1877_10_N55plus.jpg
sold out

SOLD – $10.00 – 1877 NGC AU55+

13,500.00

Serial Number 4266986-001

PCGS Lookup Number 8677

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Only 797 Business Strikes Produced!

The 1877 is one of five Liberty Head eagles with mintage figures of under 1,000 business strikes. It has the third lowest mintage figure in the series, after the excessively rare 1875 (only 100 struck) and the 1876 (687 struck). There are an estimated 50-60 known with most in the EF45 to AU55 range. While three have been graded Uncirculated, the only piece I feel is truly “new,” graded MS61 by PCGS, recently sold for $64,625 in Stacks Bowers’ March 2015 auction.

All business strike 1877 eagles are prooflike and this piece is no exception. The mirror-like reflection is intact at the borders but bag friction in the fields has created the false impression of actual wear. I doubt this piece ever was in circulation and what little rub which is present is likely from its having been shipped from the mint to a bank and then to Europe. The color is a pleasing natural light orange gold while the surfaces are lightly abraded with no overly deep or detracting marks.

This is the only 1877 eagle graded AU55+ by either service. Two NGC AU55′s sold at auction in 2014 for $11,163 while a PCGS AU55 brought $12,388.

The 1873 and 1876 eagles have skyrocketed in value in the last decade as the Liberty Head eagle series has increased in popularity. The rare, low mintage 1877 has been left behind and, at current levels, I think it is now a very undervalued date.