The 1854-S gold dollar is doubly significant as the first gold dollar from the San Francisco and a distinct one year type as it is the only issue from this mint using the Type One design. It is occasionally available in the lower Uncirculated grades but it is very rare in MS64 and only two or three Gems exist. The finest known is a PCGS, ex Bowers and Merena 10/04: 582, which sold for $31,050.

This fresh borderline Gem example is the finest 1854-S dollar I have handled since 2009. It is naturally bright with a luminous appearance and pleasing pale yellow-gold and light greenish color. The strike is excellent even for the issue and with the exceptions of a few small ticks in the fields, this piece is close to being a Gem.

The last MS65 example of this date to sell at auction was a recolored NGC coin which brought a surprising $18,400 as Heritage 10/11: 4604. A nice PCGS/CAC MS64 sold to me for $10,925 as Heritage 3/09: 2515. No other MS64′s have sold since 2002.

This Condition Census example is an important coin for gold dollar specialists or San Francisco collectors who are focused on condition rarities.

CAC has approved three in this grade with one finer (MS65).