The 1846 is the second scarcest Philadelphia eagle from the 1840′s, trailing only the rare 1844. There are an estimated 100-125 known in total with many in the VF-EF range. Properly graded AU’s are very scarce and the typical example in the 50-55 range is very baggy and very bright. I have seen very few pieces with natural color and choice, original surfaces.

This very conservatively graded example seems to me to merit at least an AU53 grade if not an AU55. It is wholly original with superb rich natural russet and medium orange-gold colors atop choice, lustrous surfaces. A few old horizontal scratches on Liberty’s jaw are hardly visible without magnification and the level of eye appeal for this piece is decidedly above average for both the date and grade.

Only two PCGS AU50 1846 eagles have appeared at auction since January 2009 and this is the only one with CAC approval.

It would be hard to find a nicer 1846 eagle, even at twice the price.

CAC has approved two in this grade with six finer.

Ex Legend Auctions 12/14: 319 where it realized $6,756.