1862-S Liberty Head Double Eagle. MS-63 (PCGS).

A truly historic numismatic offering, this is only the second certified Choice Mint State 1862-S double eagle that we can recall bringing to auction. It is a breathtaking condition rarity with superior technical quality and extraordinary eye appeal. Richly original color blends with full mint luster over surfaces that are impressively smooth overall. Well struck with most features sharply rendered, and none less than bold. While the economic repercussions of the Civil War resulted in a sharp decrease in double eagle production at the Philadelphia Mint beginning in 1862, the San Francisco Mint remained busy churning out generous numbers of these coins. Records state that 854,173 examples were struck at the California facility. These coins circulated on the West Coast in an era in which they were not seen in commerce in the East and Midwest. Although less than 1/2 of 1% of the mintage for the 1862-S is extant, circulated examples exist in such numbers -- Bowers (2004) says 2,500 to 3,500 pieces -- that locating one should be relatively easy under normal market conditions. The same cannot be said for Mint State survivors, however, which exist to the extent of just 70 to 80 pieces. A fair number of the Uncirculated coins entered the market recently from shipwreck treasures such as those of the S.S. Brother Jonathan and S.S. Republic, although we stress that most examples recovered from those sources are circulated to one degree or another. As with all Fairmont Collection offerings, this coin is not a shipwreck find and owes its survival to other means. It is an exceptionally well preserved and attractive Choice Mint State coin, and a rare and significant find for the advanced double eagle collector. Earlier we observed that this coin is only the second certified Choice Mint State 1862-S double eagle that we can ever recall offering. The first was also graded MS-63 and appeared as lot 472 in our (Bowers and Merena's) May 2004 Rarities Sale. That coin was certified by NGC and realized $29,555 in a vastly different market than that which prevails today. Certified by PCGS with undeniable originality and superior quality, this Fairmont Collection offering in the market of early 2022 will require a far stronger price from the successful bidder.

PCGS# 8938. NGC ID: 269N.

PCGS Population: 2; with a single MS-63+ finer.

From the Fairmont Collection-Hendricks Set.

Estimate: $ 40000