1858-S G$1 MS64 PCGS. CAC....

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1858-S Gold Dollar, MS64
Second Finest Known

1858-S G$1 MS64 PCGS. CAC. Ex: Simpson. This is the first 1858-S gold dollar graded finer than MS63 to appear in any Heritage auction. Both sides exhibit a bold strike with satiny light yellow luster and scattered, grade-consistent marks that are trivial at best. A small diagonal mark in the right obverse field will serve to identify this coin in the future.

Variety and Die State: Breen-6058. Normal Dies. An early die state lacking clash marks or other die anomalies. The large S mintmark is centered between the ribbon ends, upright, and close to the knot. Q. David Bowers reports two known reverse variations, with no discussion of distinguishing characteristics. This example has the 5 slightly left of center below the second L in DOLLAR, with the peak of the ribbon bow pointing to the inside right curve of that digit. The other variety has the 5 centered below the L, with the peak of the bow pointing to the center of that digit. The differences are slight, and the present variety appears to be slightly more plentiful.

Population (6/15): PCGS has certified 12 Mint State 1858-S gold dollars, including this MS64 and one MS65. NGC has also certified a dozen examples in Mint State grades, none finer than MS62.

Commentary: Paramount offered one of the finest gold dollar collections ever assembled in their session of Auction '81. The 91 coins were remarkable quality, and only 12 issues were missing from the complete collection: "The relatively few dates that are not included in the collection are omitted from the group simply because sufficiently choice examples were not available to us during the time that the collection was being assembled." The 1858-S was one of those coins omitted from the collection.

David Akers explained the rarity of these late-50s S-mint gold dollars in his 1975 auction analysis:

"As was the case with the 1857-S, strictly uncirculated examples of the 1858-S are all but nonexistent. In my estimation, all three of the 1857-S, 1858-S, and 1859-S are extremely underrated compared to other more glamorous dates in this popular series."

Little has changed in the last 40 years regarding all three issues. Perhaps it is not so bizarre that the combined PCGS and NGC Mint State population for all three issues is exactly the same at 24 coins.

Douglas Winter Commentary: The 1858-S has a comparable mintage to the 1857-S, but I find it to be a more difficult issue to locate, especially in higher grades. There are likely fewer than 10 known in Uncirculated, and most fall in the MS60 to MS62 range. PCGS has graded exactly one each in MS63, MS64, and MS65. The Duckor coin is likely the second finest known, trailing only the Gem MS65 from the Bass sale, Part IV (lot 57) that is owned by Bob Simpson. That coin sold for a strong $25,300 in the November 2000 Bass sale. The only recent auction comparable is lot 5006 in the January 2011 Heritage sale, an MS63 PCGS coin that brought $19,550.

I purchased this coin for Steve from Legend Numismatics when it became available once the Simpson Collection upgraded to the MS65 mentioned above. It is the single finest 1858-S dollar I have ever handled with very nice coloration, a great strike for the issue, and undisturbed frosty mint luster.

The Duckor Collection offers the shrewd specialist an opportunity to obtain a number of terrific San Francisco gold dollars. Consisting of just seven issues, this is a short but challenging set in which the vast majority of the known examples are in circulated grades. The only two dates that Steve wasn't able to find in grades up to his exacting standards were the 1857-S (soon to be available in higher grades due to the second wave of S.S. Central America coins) and the 1859-S.

Provenance: Doug Winter; Bob Simpson; purchased from Legend Numismatics.
From The Duckor Family Collection of Gold Dollars.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 25CK, PCGS# 7550, Greysheet# 8080)

Weight: 1.67 grams

Metal: 90% Gold, 10% Copper

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