DWN Sells Amazing PCGS/CAC MS68 1863 Gold Dollar
/Around a year ago, my Google Feed on rare gold coins gave me a very interesting notification regarding a set of gold dollars which was purchased by an obscure New York City firm. What was most interesting to me about this set was that it had direct provenance to the Chapman Brothers; the famous 19th and early 20th century coin dealers from Philadelphia. One coin really stood out to me: an 1863 graded MS68 by PCGS.
I made a mental note at that time: I wanted to own this exceptional coin.
If you are a long-term DWN blog reader, you are no doubt aware that the 1863 gold dollar and I have been in a relationship for some time.
And if you are a long-term DWN blog reader you no doubt are also aware of the fabulous Brand/Akers/Duckor PCGS/CAC MS68 1863 gold dollar, which had been the sole finest business strike. In its only auction appearance since the mid-1980s, it brought a hefty $193,875 in 2015 which is a record price for any business strike gold dollar from the Philadelphia mint.
1863 $1.00 PCGS MS68 CAC
The 1863 is the single rarest business strike gold dollar from the Philadelphia mint. Collectors are typically able to locate an example in circulated grades (most often low-end AU50 to decent AU55) or in Choice Uncirculated (MS63 to MS64). PCGS has only graded four in MS65, as well as two in MS66, and none in MS67. In MS68, the 1863 is exceedingly rare with just two known.
At the 2024 ANA, something happened that seemed like good coin karma. While I was at Stack’s Bowers’ table, one of their staff was removing gold coins from a PCGS box. I quickly noted that the coins were gold dollars and that they were designated on the slab label as ‘CHAPMAN.” I asked to see the 1863 and it did not disappoint: pristine surfaces, abundant luster and ultra-rich rose and orange-gold color.
As I handed the coin back to the Stack’s Bowers staffer I made another mental note: I wanted to own this exceptional coin.
As luck would have it, I have a good client who is working on a very high-quality set of gold dollars, and he needed a Gem 1863. I ran this coin by him and he quickly agreed with me; he had to have it. A few days before the sale, I emailed him with my bidding strategy. I told him we should bid at least $120,000 hammer, and we could stretch to $140,000 if we had to.
The day of the auction, I hopped on to the Stack’s Bowers app and saw that the opening bid for the MS68 1863 gold dollar was $100,000; higher than I expected but still priced at a level that I could control. After some agonizingly slow back and forth bidding, I won the coin at $160,000 hammer or $192,000 total. As I told my client, the price was not cheap, but the $193,875 APR from close to 10 years ago made the $192k seem reasonable. And as far as the actual coin goes…irreplaceable!
I’m saving perhaps the most interesting thing about the coin for last.
The coin has an important pedigree which includes Alexander Parker Wylie, a numismatist who was active in the early 20th century and whose accumulation of plated Chapman auction catalogs from this era (known as the Wylie Hoard) is famous among numismatic bibliophiles. Wylie bought the coin as Lot 131 from the Chapman Brothers 6/1906 sale of the Major WB Wetmore Collection. The Stack’s Bowers cataloger correctly notes that this coin was “likely purchased directly from the Philadelphia Mint by Major Wetmore at the time of issue.” Stop and think about that for a second: the coin has not been seen since 1906, and may well have been bought directly from the Mint in 1863.
That’s pretty darn cool if you ask me.
The PCGS/CAC MS68 1863 gold dollar is the prototypical DWN coin. It checks every box for aesthetic beauty and unquestioned rarity, and it becomes the centerpiece of a truly exceptional set of Gold Dollars.
Are you interested in acquiring coins of this caliber for you collection? If so, please give me a call at (214)675-9897 and we can discuss your wants and needs in detail.
