SOLD–$10.00 – 1858 NGC EF45

1858_10_n45.jpg
1858_10_n45.jpg
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SOLD–$10.00 – 1858 NGC EF45

8,250.00

Serial Number 3418767-006

PCGS Lookup Number 8625

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Only 2,521 examples were made and the 1858 is the second rarest eagle from this mint (after the 1839 Head of 1840) struck between 1838 and 1863. There are an estimated five to six dozen known with many in very low grades. This date is seldom seen finer than EF45 to AU5o and many show excessively abraded fields and unappealing coloration.

This fresh-to-the-market example exhibits appealing deep orange-gold color with some red and blue splashes about the borders. The strike is typical for the issue with weakness on the radial lines in the stars and on the curl directly above Liberty’s ear. The surfaces are moderately abraded with the most noticeable of these being an old scratch from between the TA in STATES to the field near the eagle’s beak.

Two EF45 examples, both encapsulated by PCGS, sold at auction in 2012. One brought $7,638 while the other sold for $8,338. None have been available since then.

Funny thing about this date: a few generations ago, it was regarded as a premier rarity in the Liberty Head eagle series but now its rarity and fame have been eclipsed by other issues from this era. That said, it is still a rare coin in all grades and it seems undervalued to me at current levels, especially given the popularity of this denomination.