This attractive piece is awash in bold khaki-orange patina with flickers of original satin luster remaining among the more protected areas of the design. There is a thin, faint planchet streak that bisects the upper left obverse, as struck; a feature that in no way diminishes either the technical quality or eye appeal. Sharply defined throughout, especially on the reverse, with uncommonly smooth surfaces for a lightly circulated, early date double eagle of the Type I Liberty design. Very appealing.Writing in the 2004 reference A Guide Book of Double Eagle Gold Coins , Q. David Bowers provides the diagnostics for distinguishing this important variety of the 1854 double eagle from its more plentiful Small Date counterpart:"1854 Four-digit Large Date logotype: Date in larger numerals than the standard (Small Date) logotype of this year. Date with 18 farthest apart (but still quite close); 854 spaced about equally; top interior of 8 slightly smaller than bottom interior. Upright of 1 thin; upright of 4 thick. Italic style 5."The author further states, "The 1854 Large Date is by [far] the rarest Philadelphia Mint double eagle minted up to this point in time," and that it is, "Rare in Mint State." Douglas Winter and Adam Crum ( An Insider s Guide to Collecting Type I Double Eagles , 2002) estimate that only 10% of 1854 double eagles extant are of this variety. Here is an important absolute and condition rarity from the early Liberty double eagle series. Specialists should take note, as examples are infrequently offered at auction, especially in finer circulated grades, as here.， Est. $12,000-$20,000
