1865 Liberty Head Double Eagle. MS-61 (PCGS).
A delightful honey-gold example that also reveals wisps of faint rose and apricot iridescence under a light. Both sides are smartly impressed with sharp to full definition throughout the design. Full, strong mint luster adds to the appeal of this lovely Mint State double eagle. Circulation strike double eagle production at the Philadelphia Mint amounted to 351,175 coins in 1865. Since gold coins continued to be hoarded in the East and Midwest, these were available only at a premium in terms of Legal Tender notes. Q. David Bowers estimated a surviving population of only 14 to 18 different Mint State examples in his Guide Book of Double Eagles published by Whitman in 2004. At the time this dovetailed nicely with David W. Akers' research, as he found a scant eight auction listings of specimens cataloged as Uncirculated when he wrote his widely used double eagle reference book in 1982. Later came news from Odyssey Marine Exploration of 363 pieces found in the wreck of the S.S. Republic. We once again remind readers that these coins were not in general circulation at the time, but were owned by those who paid a sharp premium for them in terms of Legal Tender notes. As a rule, the S.S. Republic 1865 double eagles exhibit bright golden-yellow surfaces with a rather soft frosty texture. With bolder patina and heavier mint frost, the present example from the Fairmont Collection is one of the truly rare Mint State 1865 double eagles that has come from sources other than the S.S. Republic treasure. It is an outstanding coin for both the issue and the assigned grade that would serve as a highlight in an advanced double eagle set.
PCGS# 8943. NGC ID: 269U.
PCGS Population: 18; 32 finer (MS-65 finest).
From the Fairmont Collection - JBR Set.