Original surfaces and very rare as such.

As I recently explained in a DWN Blog, the 1854-S is an interesting and much-misunderstood date. Nearly every known example above AU50 has seawater surfaces and coins with natural color and surfaces are extremely rare in AU55 and above.

This fresh-to-the-market example was just graded at NGC and it is one of the three finest 1854-S double eagles with original surfaces that I have seen. It is a beautiful, uncleaned coin with full, frosty luster and a bold, even strike. The obverse has nice green-gold and orange color while the reverse is a deeper dusky orange-gold with some reddish flashes at the borders. There are a few small nicks on the cheek of Liberty but otherwise the surfaces are exceptional. Only the slightest amount of friction can be seen on the obverse but with just a touch more “flash,” I could easily see this piece in an MS61 holder.

The most recent auction comparable of note is Stacks Bowers 2013: 5328 in which a PCGS AU53 (CAC approved) from the SS Central America sold for $18,800. In my opinion, this coin graded AU55 to AU58 and it obviously fetched a large premium due to its source of origin but it still was nowhere near as choice as the present example.

This is one of the most important Type One double eagles that I have offered in some time.

CAC has approved two 1854-S double eagles in AU58 with only two finer.

This is the only coin NGC has graded AU58+