RARE AND DESIRABLE PCGS AU58 1859 DOUBLE EAGLE

The 1859 is the rarest Philadelphia Type One double eagle, exceeding the 1862 and the 1863. It is not as popular as those two dates as it wasn’t made during the Civil War but it is clearly rarer and, in my opinion, undervalued. The 1859 is a rare issue in properly graded AU58 and it is very rare in Uncirculated.

This fresh-to-the-market slider has absolutely no wear but it is abraded enough on the obverse (from bag handling) to knock it down to the AU58 level. Both sides show nice luster and pleasing natural rose and medium orange-gold color. On the obverse there are some scuffs in the left obverse field and on the cheek as well as a reeding mark running out from the top of Liberty’s head to the right of star eight. The reverse is clean and choice and grades MS60 to MS61 on its own.

Only two PCGS AU58 1859 double eagles have sold at auction since March, 2011. The last sold for $19,975 as Stacks Bowers 3/16: 13216 while a very nice piece brought $23,500 as Stacks Bowers 2/13: 2186.

This date is essentially unavailable in Uncirculated and I have seen very few AU58′s in the last five years. It is much scarcer than an 1862 in this grade yet it is currently priced much lower. An important double eagle for the advanced specialist.