FRESH CONDITION CENSUS 1862-S EAGLE

All of the Civil War eagles from the San Francisco mint are rare and the 1862-S is no exception. Of the 12,500 struck there are an estimated 60-70 known with most showing extensive circulation. This date is rare in AU with probably no more than 10-12 known and it is unique in Uncirculated with the single piece known (now in a PCGS MS61 holder) having first brought $103,500 as Heritage 4/11: 5427 then bringing more than this figure when the Simpson collection of Liberty Head eagles was sold privately earlier this year.

This fresh-to-the-market coin was recently found in Europe and it is high end for the grade with many claims to an AU58. It shows light wear only with choice surfaces and a much better than normal strike including sharp details at the centers. The color is a nice medium yellow-gold with rose blushes outlining the devices on both sides. The eye appeal is exceptional for the issue.

No PCGS AU55 1862-S eagle has sold at auction since July 2006. A PCGS AU58, which I purchased for $21,150, sold as Heritage 10/14: 5017. I think the present coin is almost as nice.

The Liberty Head eagle is replete with conditionally rare issues and this 1862-S, which is clearly among the finest known, absolutely qualifies as one of the more interesting gold coins from this mint which I have handled so far in 2015.

CAC has approved two in this grade with none finer. Only three coins for the entire date have thus far been approved.