1865-S Liberty Head Eagle. 865/Inverted 186. EF-45 (PCGS).

This example of a popular and dramatic repunched date variety delivers exceptional quality and originality for an 1860s San Francisco Mint gold coin. Warm honey-gold color blankets surfaces that also exhibit subtle pinkish-rose highlights. Lustrous for the grade with evidence of a softly frosted finish. The detail is bold for the assigned grade, and the underdigits are readily evident when the date area is examined with a loupe. The 865/Inverted 186 eagle was created when the engraver inadvertently punched the logotype with the first three digits in the date into die upside down. The error was recognized and corrected with a second entry of the digits in the proper orientation, but ample evidence of the initial blunder remained. This is actually the more often seen variety of the 1865-S eagle, but its popularity ensures that numismatic demand far outstrips supply. The 865/Inverted 186 is actually rare in its own right with PCGS CoinFacts estimating that only 40 to 60 coins are extant in all grades. The offered coin is one of the finest that we can ever recall handling, and it is sure to see spirited bidding at auction.

PCGS# 8643. NGC ID: 264G.

PCGS Population: 6; 18 finer, just one of which is Mint State (MS-64).

From the Fairmont Collection - CBL Set.