1862 Liberty Head Eagle. AU-58 (PCGS).
Offered is a Condition Census example of this extremely popular, yet highly elusive Civil War era gold eagle. Sharply struck with frosty mint luster, both sides are enhanced by original color in warm honey-orange. Nearly Mint State, and premium quality at the assigned grade level, there is much to recommend this exceptional coin to advanced numismatists. As Union hopes for a quick victory in the Civil War were dashed with their defeat at the First Battle of Bull Run (a.k.a. First Manassas) in July 1861, Eastern banks suspended first gold and then silver specie payments. By early 1862 gold coins had effectively disappeared from circulation in the Eastern and Midwestern states, the yearly output of circulation strikes from the Philadelphia Mint also dropping off markedly as little bullion reached the facility for coinage. The 1862 has a modest mintage of 10,960 pieces, many examples of which were exported and eventually melted. When we further consider that most of the few survivors are well worn, the significance of the present offering should be obvious even to the casual observer. A coin that is sure to see spirited bidding at auction that results in a strong realized price.
PCGS# 8635. NGC ID: 2649.
PCGS Population: 8; 6, four of which are Mint State (MS-61 finest).
From the Fairmont Collection - JBR Set.