1860 G$1 MS65 PCGS. CAC....

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Sold on Aug 12, 2015 for:

$10,868.75 Bid Source: HA.com/Live bidder

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1860 Gold Dollar, MS65
An Important Condition Rarity
Sole Example at CAC in This Grade

1860 G$1 MS65 PCGS. CAC. This frosty Gem displays a bold strike with full headdress and wreath details. Both sides exhibit brilliant yellow-gold luster and exceptional eye appeal, despite scattered microscopic surface marks expected for the grade.

Variety and Die State: Breen-6065. Normal Dies. No die defects are evident on this early die state piece.

Population (6/15): PCGS shows six in MS65, one MS66, and two MS67. NGC reports five MS65 and one MS66. This is the lone MS65 with the CAC green approval.

Commentary: It is our opinion that the 1860 gold dollar is extraordinarily underrated in MS65 and finer grades, with only nine such coins certified at PCGS. The PCGS Price Guide values MS65 examples at just $7,000. Compare that, for example, to the 1863 with seven pieces in MS65 or finer, and with an MS65 value of $19,000; or compare the 1860 to the 1865, with 14 Gem or finer examples and a value of $8,000.

Douglas Winter Commentary: The 1860 gold dollar was not saved to nearly the same extent as were other P-mint issues of this era and, as a result, Gems are much rarer than one might expect. Only three MS65 PCGS coins have sold at auction since 2000 (none since 2005) and the PCGS population of six in this grade might actually be inflated by one or two coins. The unquestioned finest known business strike 1860 gold dollar is a Superb Gem MS67 PCGS piece that appeared as lot 6065 in the March 2004 Heritage auction for a then-impressive $29,000. PCGS shows another coin graded MS67 in their current population, but as it has never sold at auction (and I've never seen it), I would have to wonder if it isn't a second submission of the March 2004 Heritage coin.

I sold the present coin to Steve and it came from the Vasquez Rocks Collection, which I offered via private treaty at the end of 2013 and the beginning of 2014. I told Steve at the time that the "right" coin for his set was, obviously, the MS67 PCGS, but that it was in a tightly held collection and unlikely to become available.

This will probably be among the more affordable coins in the entire Duckor Collection, but it will likely be among the better values, given its rarity and its high quality for the date and grade.

Provenance: Vasquez Rocks Collection; purchased from Doug Winter.
From The Duckor Family Collection of Gold Dollars.(Registry values: N2998)

Coin Index Numbers: (NGC ID# 25CR, PCGS# 7555, Greysheet# 8022)

Weight: 1.67 grams

Metal: 90% Gold, 10% Copper

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