1864 Liberty Head Double Eagle. AU-58 (PCGS). CAC.
A wonderfully originally example that really needs to be seen to be fully appreciated. Impressively smooth for a lightly circulated double eagle from the Civil War era, both sides also offer bountiful mint luster in a softly frosted texture. Sharply struck with vivid golden-honey color providing further appeal. Federal records report that 204,235 circulation strike double eagles were coined at the Philadelphia Mint during 1864, and due to the continued problem with hoarding - which lasted until late December 1879 - none were used in regular day-to-day transactions in the eastern half of the United States. It seems that many were exported, and to the extent that this happened, most were likely melted into bullion, as examples have not turned up in European bank hoards to any great extent. We estimate a surviving population of between 300 to 450 circulated pieces, most of which grade VF or EF. Dave Bowers, in his study of the series, estimated a Mint State population of only between three and five pieces. David Akers, writing in 1982, stated: "I have never personally examined a true Mint State piece, and despite the rather numerous auction records, have seen relatively few that could even be graded AU." Jeff Garrett and Ron Guth (2008) commented: "There were 42 examples of the 1864 Philadelphia issue on board the S.S. Republic, but this is very small in comparison to the large number of double eagle collectors." Not all of these coins were Uncirculated or choice. With superior surface preservation and strong eye appeal, the offered specimen is one of the most desirable 1864 double eagles available to today's collectors. It is worthy of the strongest bids.
PCGS# 8941. NGC ID: 269S.

Estimate: $19700