1882-S Liberty Head Double Eagle. MS-62 (PCGS).

Sharply struck with frosty luster that blends nicely with vivid rose-gold patina. The San Francisco Mint coined 1,125,000 double eagles ($22,500,000 face value) in 1882, attesting to the fact that the demand for gold coins on the West Coast continued to be robust. Large numbers entered into the channels of commerce where they circulated until they were well worn; others were used in overseas trade. Back in 1982 David W. Akers regarded the true Uncirculated examples of the issue as "definitely scarce" and accounted for auction appearances of Mint State examples in scarcely more than 5% of the major auction sales he examined in his research. By 2004, when Q. David Bowers wrote his Guide Book of Double Eagles, the situation had changed, and Mint State examples were estimated to be in the hundreds rather than dozens. Current high-end estimates put the Uncirculated population in excess of 1,000 pieces, and MS-60 examples command prices close to the "type" level. Above the level represented here, however, the 1882-S is anything but a "type" coin; in fact, it is a significant condition rarity that is rarely encountered in today's market.

PCGS# 8998. NGC ID: 26BG.