SOLD – $1.00 – 1859-S NGC AU58 CAC

1859S_g1_N58_CAC1.jpg
1859S_g1_N58_CAC1.jpg
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SOLD – $1.00 – 1859-S NGC AU58 CAC

2,150.00

Serial Number 1271372-028

PCGS Lookup Number 7554

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Only six different gold dollars were made at the San Francisco mint. Four of these, the 1857-S, 1858-S, 1859-S and 1860-S, have comparable mintages and are of reasonably similar rarity. The 1859-S has a mintage of 15,000. It is seen most often in the EF45-AU53 range. It is very scarce in properly graded AU58 and quite rare in Uncirculated, especially above MS62.

This attractive slider shows virtually no wear but it does have some minor luster breaks in the obverse fields as a result of “cabinet friction.” It shows nice yellow-gold color with a band of rose at the obverse border and the surfaces are uncommonly clean for the date and grade. I have seen very few slabbed AU58 that I felt were accurately graded and the PCGS/NGC populations figures for this date in AU58 are very inaccurate.

In 2011, there were five NGC AU58 examples of the 1859-S gold dollar sold at auction. The prices realized ranged from a low of $1,495 to a high of $2,070. Only one of these coins was approved by CAC.

In my opinion, this is an extremely undervalued coin that is only now being recognized as a scarcity in this grade.

CAC has approved five in AU58 with none finer.