The 1868-S $20.00 is less rare than the 1867-S but it is comparable to the 1869-S and the 1870-S. All of these dates are very scarce in properly graded AU58 and quite rare in Uncirculated. The price jump between AU58 and MS61 is considerable for all of these dates, making a nice “slider” a better value, in my opinion.

This frosty light rose-gold example has the naked-eye appearance of an MS61 and it has no real wear visible, even on the high spots of the obverse. The strike is slightly better than average with weakness noted on just a few of the radial lines in the stars while the surfaces are clean and choice with just a few scattered scuffs visible.

The last PCGS AU58 1868-S $20.00 to sell at auction was this coin, ex Heritage 10/14: 5072, where it sold a bit cheaply at $5,875. Heritage 8/13: 5215, another PCGS/CAC AU58, realized $6,463.

If available, a PCGS MS61 1868-S double eagle might cost in the high 10′s/low 20′s and it is not likely that most collectors could see this 3x to 4x difference.

CAC has approved 10 in this grade with five finer.