The 1846 is the second scarcest Philadelphia eagle from the 1840′s after the 1844. There are an estimated 125 known with most in the VF-EF range. Properly graded AU50 to 55 coins with natural color and choice surfaces are far more scarce than the combined PCGS/NGC population figures suggest and there are only two known in Uncirculated, the finest of which is an impressive PCGS MS62+.

This fresh to the market example is conservatively graded as it shows a lot of original skin below nice medium to deep russet hues. This date is nearly always seen with a number of abrasions on the surfaces and this coin is cleaner than normal with just a single reeding mark below Liberty’s chin worthy of a mention.

Only three PCGS AU50 1846 eagles have sold at auction since April 2008 and the last one, approved by CAC, sold for $6,756 as Legend 12/14: 319. The last non-CAC PCGS 50 sold for $4,888 and it wasn’t nearly as choice and original as the present piece.

No Motto eagles from the Philadelphia mint have become more popular in recent years but they remain undervalued in comparison to their New Orleans counterparts.