Liberty Head Double Eagle

Rare Mint State 1870 Double Eagle

1870 Liberty Head Double Eagle. MS-61 (PCGS). CAC.

Handsome medium gold coloration with scattered hints of original patina on both sides. This is a sharply struck, fully frosted example with superior eye appeal for the assigned grade. Only the most minor bag marks are noted on the obverse, while the reverse is exceptionally composed. Just 24 coins have been certified finer by PCGS, and approval by CAC surely contributes considerable desirability. Just 155,150 circulation strike double eagles of this date and mint were produced with a modest face value of $3,103,000. Many of these were sent overseas in later years, by which time they were worn. While EF and AU coins are readily obtainable in the context of the Type II Liberty Head series, Uncirculated examples are rare and seldom offered. In the year 1870 the few numismatists who were interested in collecting double eagles ordered Proofs from the Mint. In January 1936, Thomas L. Elder, in his offering of the Charles W. Sloane and Frank Lenz collections, offered an Uncirculated example and noted it was "very rare." More than any other dealer of the era, Elder, based in New York City, eagerly sought scarce gold coins of all denominations after 1933 when the government began calling them in. Elder sent out notices to bank tellers and others, offering premiums, and was responsible for saving countless thousands of pieces from the melting pot. By 1936 he was well aware that a Mint State 1870 double eagle was a rarity, as noted. The presently offered coin offers the successful bidder a chance to obtain an attractive high grade example of this conditionally challenging issue.

PCGS# 8957. NGC ID: 26A7.

PCGS Population: 33; 24 finer.

Estimate: $ 10000