Highly Elusive Mint State 1867-S Double Eagle

1867-S Liberty Head Double Eagle. MS-61 (PCGS).

An endearing piece, both sides are bathed in a blend of olive-gold patina and billowy mint luster. Boldly, if not sharply struck throughout with a pleasingly original appearance. Mint records indicate that 920,750 double eagles were produced at the San Francisco facility during 1867, amounting to $18,415,000 in face value. As is typical of double eagles produced at this mint, they were heavily used in day-to-day transactions on the Pacific Coast, something completely opposite to the situation that prevailed in the eastern half of the United States, where precious metal coins were extensively hoarded and most transactions were conducted using paper money. Q. David Bowers estimated a Mint State population of just three to five different Mint State examples when he wrote his 2004 Guide Book to Double Eagles published by Whitman. This dovetails nicely with David W. Akers' research, as the latter found only three listings of Uncirculated specimens in a survey of more than 400 major auction sales. Although a few more Uncirculated coins have slipped into the market in recent years, the 1867-S continues to be celebrated as a major condition rarity. Indeed, to the best of our knowledge this issue has not been widely represented in any overseas hoards. A highlight of the remarkable Fairmont Collection, and a find for the advanced double eagle collector.

PCGS# 8952. NGC ID: 26A2.

PCGS Population: 14; 4 finer (all MS-62).

From the Fairmont Collection.