1861-S $20.00 NGC AU55 CAC

This deeply toned example is among the few totally original 1861-S double eagles that I can recall having seen in many years. It shows rich Euro-style color with deep green-gold surfaces that are contrasted by the hues on the relief details. There is a good degree of luster below the toning and the surfaces are choice for the issue. This is probably the scarcest regular issue SF double eagle from the Civil War era and I am very fond of this coin's appearance. CAC has approved just two in this grade with eight finer.

1861-S $2.50 PCGS AU58 CAC

Unlike its quarter eagle counterpart from Philadelphia, this Civil War issue has a low original mintage and a small survival rate. Only 24,000 were struck and most of the remaining pieces show considerable wear from heavy use in local commerce. This date is quite rare in properly graded AU58 and it is extremely rare in Mint State with no more than three or four known. This is a pleasing "slider" with nearly full luster seen below rich rose and orange hues which are deeper on the reverse than on the obverse. The strike is sharp with nearly full leg feathers on the eagle and only a few small ticks in the fields can be seen with the naked eye. The last PCGS AU58 1861-S quarter eagle to sell at auction was Heritage 11/03: 7235 that sold for $4,830 nearly a decade ago. Since 1999, there have been only seven APR's for AU58's of this date. After years of neglect, coins such as this are finally getting the acclaim they deserve but I feel they are still undervalued.

This is currently the only 1861-S quarter eagle in any grade to have been approved by CAC.

1861-S $20.00 NGC EF45

I purchased a nice little date run of choice "Euro" Type One double eagles at the Denver ANA show and all are characterized by dark, natural color. This Civil War date is very clean for the grade and has a good deal of luster at the peripheries. It is a tougher date although it brings virtually no premium over isses such as the 1863-S, 1864-S and the 1865-S.

1861-S $20.00 PCGS AU58

Due to a lack of coins being found in shipwrecks, the 1861-S Normal Reverse is the hardest San Francisco double eagle from the Civil War to find in higher grades. In fact, it is very rare in full MInt State and this AU58 "slider" is about as nice an example as what is generally available for the issue. This piece has just a slight amount of wear seen on the high spots and some minor luster breaks in the obverse fields. There two or three small blackish areas of discoloration on the obverse where the copper used to alloy the gold in the planchet was not alloyed properly.

1861-S $20.00 PCGS AU55

Old Green Label Holder. Housed in an old PCGS holder and very choice for the grade but not quite, in my opinion, an AU58 by today's standards. This piece is probably from a European source as it exhibits rich natural orange-gold color with some darker highlights. A small semi-circular scrape below stars four through six keeps this coin from grading higher but it is choice, frosty and original. The 1861-S is a scarce Civil War date that dramatically increases in value as it climbs up the grading scale.

1861-S $20.00 NGC AU58

You can disregard the NGC population of this date. In AU58 it is quite scarce and it is a really tough coin in Uncirculated that is nearly impossible to find above MS60 to MS61. This fresh example has a good deal of luster, minimal marks and nice medium orange-gold color. It is cleaner than usual and quite well detailed with better sharpness at the centers than what is normally seen for the date. A small grease stain at star two on the obverse is as made and shows that this piece has not been dipped. If available, an MS61 1861-S double eagle would cost in excess of $15,000 and it probably would not have much more eye appeal than this "slider." Since the beginning of 2009, only three AU58 1861-S double eagles have appeared at auction and I have had only three in inventory in close to two years.