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    Description

    1859 Liberty Eagle, MS62
    Elusive Low-Mintage Issue
    Single Finest Certified at PCGS

    1859 $10 MS62 PCGS. A relatively small mintage of 16,013 pieces confirms the rarity of the 1859 Liberty eagle. Few examples were saved by contemporary collectors, as collecting high denomination gold coins was too expensive for the average collector in the 19th century. The coins circulated widely in the channels of commerce, suffering considerable attrition over the years, and the majority of survivors are in Extremely Fine and About Uncirculated grades today. David Akers knew of only one Mint State example, before nine relatively high-grade coins were recovered from the wreck of the S.S. Central America. NGC and PCGS have seen a total of only 10 Uncirculated pieces between them, the finest a single MS63 (3/14).

    Few numismatists appreciate the rarity of the 1859 Liberty eagle, as it has been overshadowed by its more famous 1858 counterpart. An early auction appearance in lot 351 of Sale 399 (J.C. Morgenthau, 5/1939) read simply, "1859 Very fine." The lot realized $21, a reasonable price at the time, when an Uncirculated specimen cataloged for $40. Auction prices realized for the 1859 have increased exponentially in recent years.

    The present coin is an attractive MS62 example, the single finest certified at PCGS. The partially prooflike fields display modest contrast with the motifs at various angles, especially on the reverse. All of the design elements are boldly struck, and the pleasing yellow-gold surfaces show a scattering of minor contact marks, none worthy of individual mention. This is an important opportunity for the gold specialist to acquire a Mint State example of this rare date. Population: 1 in 62, 0 finer (3/14).(Registry values: N4719) (NGC ID# 263Z, PCGS# 8628)


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    Auction Info

    Auction Dates
    April, 2014
    23rd-27th Wednesday-Sunday
    Bids + Registered Phone Bidders: 8
    Lot Tracking Activity: N/A
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