1856-S $10 MS61 NGC....

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Elusive Mint State 1856-S Eagle

1856-S $10 MS61 NGC. Medium S. The 1856-S eagle is one of the first productions from the fledgling San Francisco Mint, which opened in 1854. Despite the moderate production of 68,000 examples, most gold coins circulated in the hard-money-loving West, and the average survivor is well-circulated, about Choice XF or so.
The present Mint State coin is a happy exception, sharply struck but showing a few insignificant scratches on Liberty's cheek. A scattering of minor handling marks in the fields is consistent with the grade, and generous luster appears on the greenish-gold surfaces. Garrett and Guth wrote in their 2006 Gold Coin Encyclopedia that "About Uncirculated examples are relative bargains in today's market, considering how few there are and how nearly impossible it is to find Mint State versions of this date." Census: 2 in 61, 0 finer (5/10).(Registry values: N4719)

Coin Index Numbers: (NGC ID# 263S, PCGS# 8621, GSID# 9451)

Metal: 90% Gold, 10% Copper
Weight: 16.72 grams
AGW: 0.48375oz
Melt Value: $584.85
Gold Spot: $1,209/oz (07-09-2010)
Mintage: 68,000

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