The 1856 is similar in high grade rarity to the 1855 and these two dates are probably the most overlooked and undervalued P Mint Type One double eagles in AU55 and higher. The 1856 is extremely hard to find in properly graded AU58 and the few which are available have poor eye appeal. This example has excellent eye appeal and this makes it important for the serious collector.

As with other 1856 double eagles I have seen, this piece is satiny with a slightly reflective obverse. Both sides show light rose and yellow-gold color and there are some light, scattered marks in the fields. The strike is not quite as sharp as on other 1856 double eagles but this is more than compensated for by the superior overall eye appeal. A tiny mint-made grease stain below stars four and five on the obverse serves as identification.

No PCGS AU58 1856 double eagle has sold at auction since the end of 2009 and only three have sold since the middle of 2005. No AU58 with CAC approval has ever crossed the auction block.

This is an important coin for the advanced double eagle collector and this grade represents exceptional value as an Uncirculated 1856, if available, is likely to run $15,000 or more.

CAC has approved six in this grade with only two finer.

For more information on this date, click here.