The 1862 is the rarest Type One double eagle from this mint (the second rarest, FYI, is the 1859) and it is the rarest double eagle from Philly made until the low mintage issues from the early to mid 1880′s. For many years it was underrated and overlooked but as this series has grown so popular, prices have reflected the rarity of the 1862-P.

This glossy, evenly-worn example has even ruset color and ample detail for the grade. There is a small obverse rim bump at 9:00 and and scattered marks in the fields which are consistent with the grade.

In the recent Heritage 2013 sale, an old holder 1862 double eagle graded EF40 by NGC realized $11,163. Prior to this, the most recent APR for an EF40 was a PCGS coin sold as Stack’s Bowers 3/12: 7823 which brought $7,475. In all, there are only three auction records for this date in EF40 since 2002.

If you collect Type One double eagles, you know how infrequnely this date comes up for sale and this may be your last chanxce to buy one for less than $8,000.