This remarkable coin is one of the most important Liberty eagles that we have ever offered. It is unique as the finest certified -- and probably also finest known -- survivor of this rare, conditionally challenging issue. It is also one of just two Mint State 1873-S tens known, both of which are certified at PCGS. The fortunate collector who triumphs in the bidding for this lot will not only be securing an important 19th century gold coin rarity, but also a genuinely handsome and supremely attractive coin at the assigned grade level. This is an undeniably original piece, sporting as it does rich toning in a bold khaki-rose color. Satiny surfaces are uncommonly vibrant in a BU Liberty eagle, especially an example of a rare San Francisco Mint issue from the 1870s such as this, and they are also remarkably smooth in overall appearance. Boldly struck, as well, and a pleasure to both behold and catalog. We are confident that this coin s next owner will be as impressed with it as we are.The 1873-S is one of many rare and underrated San Francisco Mint Liberty eagles from the late 1860s and 1870s. The mintage of this issue is a mere 12,000 pieces, many examples of which undoubtedly saw extensive commercial use in the Western part of the United States, where gold continued to circulate even after eastern banks suspended specie payments early in the Civil War. As confirmed by the recent discovery of the present example in Europe, at least some portion (in fact, probably the majority) of the mintage for the 1873-S was used in the export trade. Regardless of whether they were used domestically or found their way to foreign shores, however, the eventual fate of most 1873-S eagles was the same: loss through commerce or melting. There was essentially no numismatic interest in these coins at the time of issue, and none seem to have been purposefully saved otherwise, so the survival of examples even in the finer circulated grades would have been a matter of pure chance. The odds were stacked even more heavily against the survival of Mint State coins, and to date only two have come to the attention of today s collectors:1 - PCGS MS-62. The present example. Discovered in Europe, March 2015. This coin was recently certified for the first time by PCGS Paris, and is making its first ever appearance in the U.S. numismatic market through this sale.2 - PCGS MS-61. Ex our (Stack s) Carter Collections sale, January 1986, lot 266; our (Stack s) session of Auction 90, August 1990, lot 454; Heritage s sale of the Warren Miller Collection, October 1995, lot 6369; our (Bowers and Merena s) sale of the Harry W. Bass, Jr. Collection, Part IV, November 2000, lot 706.An exciting discovery coin and an exceedingly rare survivor of an all-too-often overlooked San Francisco Mint gold issue, the ownership of this 1873-S eagle would establish the prominence of any collector among their numismatic peers. Representing what could very well be a once in a lifetime opportunity, interested parties are urged to bid aggressively when this important rarity crosses the auction block.In closing, it is well to bear in mind just how underrated the 1873-S eagle is as an issue. Writing in the 2008 edition of the reference Encyclopedia of U.S. Gold Coins: 1795-1933 , Jeff Garrett and Ron Guth rank the 1873-S similar in rarity to the 1871-S and, more importantly, the 1870-CC. The latter issue is a well known and highly respected rarity, vying with the 1870-CC double eagle as the rarest Carson City Mint gold coin of any denomination. Fewer than 100 examples of the 1870-CC are believed extant in all grades, perhaps fewer even than 70 coins, estimates that are equally applicable to the 1873-S. One could only imagine the sharp increase in demand and value that the finest known 1873-S eagle would experience were the San Francisco Mint to achieve parity with its Carson City counterpart in terms of popularity among advanced gold collectors. As we have often said in regard to many important United States coins, a strong price paid for this Mint State 1873-S eagle today could turn out to be as astute buy -- if not an outright bargain -- in a future market.， Provenance: Discovered in Europe, March 2015. This coin was recently certified for the first time by PCGS Paris, and is making its first ever appearance in the U.S. numismatic market through this sale. Est. $35,000-$45,000
