The 1868 is the rarest Type Two double eagle from Philadelphia and it is nearly as hard to locate as better-known Type One issues as the 1862-P and 1863-P. It is very scarce in the mid-AU grades, rare in properly graded AU58 and very rare in Uncirculated.

This Gem slider shows only the slightest wear on the high spots and it compares favorably to examples I have seen in MS61 holders. The luster is frosty and nearly full with only a few breaks in the fields from contact with other coins. The color is a rich natural rose and orange-gold and the eye appeal is far, far above average for the date and grade.

The last PCGS AU58 1868 double eagle to sell at auction was Heritage 10/10: 5001 at $10,063. There have been just five PCGS AU58 examples sold at auction since 2007 and none with CAC approval. I have not owned a better example since 2006 when I sold an MS62.

If you are a serious collector of Type Two double eagles you should be aware of the importance of this offering.

CAC has approved four in this grade with two finer.