Large Date variety, designated by NGC.

Philadelphia 1854 double eagles are found with a Small Date and Large Date logotype. The Large Date is considerably scarcer and I rank it as the fourth rarest Type One double eagle from this mint after the 1859, 1862 and 1863. Curiously, the 1854 Large Date is seen most often in AU53 to AU58 grades but almost never in affordable collector grade such as EF40.

The choice, evenly worn example shows nice russet color with some underlying orange-gold flashes. Both sides are very clean with an almost total lack of abrasions and there is some luster peeking through the recesses on both sides as well.

The last EF40 example of this variety to sell at auction brought $3,278 as Bowers and Merena 7/08: 1205. I can’t personally recall having ever handled one in this grade.

A nice AU 1854 Large Date is a $17,500-22,500 coin and this means that many collectors won’t be able to afford an example. The current piece is not only affordable, it is cosmetically appealing and years may pass before another comparable 1854 Large date is available.

CAC has approved only this one coin in EF40 with 15 finer.