RARE AND IN-DEMAND 1859 DOUBLE EAGLE

Although it isn’t as popular as the Civil War issues, the 1859 is clearly the rarest Type One from the Philadelphia mint, easily eclipsing the 1862. The 1859 is usually seen in EF40 to AU50 grades. In AU55 to AU58, it is genuinely rare and it is very rare and almost never offered for sale in Uncirculated.

This fresh-to-the-market example has a good deal of remaining luster below soft yellow-gold color. As is nearly always the case, the surfaces show numerous scuffs and ticks but on this piece, these are not overly detracting, save for sharp vertical nick below Liberty’s ear. The strike is very sharp and the overall eye appeal is quite a bit above-average for the issue.

Only one PCGS AU55 1859 double eagle has sold at auction since August 2010 and it realized $17,625 as Heritage 2015 ANA: 4456; the coin was approved by CAC although not really choice in my opinion. An NGC AU55 sold for $13,513 as Heritage 4/15: 5437.

This is an issue which appears on countless wantlists and it is clear that the demand far exceeds the supply.