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    Description

    1864-S Liberty Eagle, XF45
    The Rarest S-Mint Ten
    Second Rarest Liberty Head Eagle

    1864-S $10 XF45 PCGS. The 1864-S is the rarest eagle from San Francisco and it is clearly the second rarest Liberty Head eagle, trailing only the 1875. For the San Francisco mint no other year claims a smaller mintage than 1864, when just 2,500 examples were struck. There are an estimated 25-30 pieces known, and at least half of these grade lower than XF40 with some survivors as low as VG8. In choice, original Extremely Fine there are as few as a half dozen coins known, and to this number we can add another four or five in About Uncirculated. The finest is a PCGS-certified AU55+ that brought $219,004 (as an NGC AU55) in the Chicago Signature (Heritage, 10/2018), lot 3179. No pieces are known in mint condition.

    This piece was sold to Harvey Jacobson via private treaty in April 2017 (as an NGC XF45). It is a fresh coin that walked into a coin shop in the Midwest and made its way to specialist Doug Winter who sold it to Jacobson.

    Between 2000 to 2014, this issue was virtually unavailable in any grade. It turns out that collector Donald Bently was quietly hoarding 1864-S eagles (and other rare issues as well) and when his collection came onto the market in early 2014, his estate contained four examples. Prices immediately skyrocketed for this issue and the formerly grossly undervalued 1864-S eagle became a six-figure coin in Extremely Fine and finer. While this date is no longer "cheap," it still seems reasonable given the popularity of the Liberty Head eagle series and the rarity of this issue.

    Most of the stars show partial radial line detail, and Liberty's portrait is strong for the grade. Incompleteness is a touch more apparent on the eagle's neck and the olive leaves, but the legends on that side are bold. Attractive khaki-gold surfaces show crusty accents within the protected regions. As far as identifying this coin in future sales, pedigree markers are limited to two marks in the field above and through the tip of the bust and above the eagle's head. We would encourage anyone with an 1864-S ten on their wish list to seriously consider the present lot, as these coins rarely make public appearances. Population: 5 in 45 (1 in 45+), 7 finer (12/19).
    From The Harvey B. Jacobson, Jr. Collection of Liberty Eagles. (Registry values: N4719)

    Coin Index Numbers: (NGC ID# 264E, PCGS# 8640)

    Weight: 16.72 grams

    Metal: 90% Gold, 10% Copper


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    Auction Info

    Auction Dates
    February, 2020
    20th-23rd Thursday-Sunday
    Bids + Registered Phone Bidders: 16
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