1862 Liberty Head Double Eagle. EF-40 (PCGS).A warmly patinated honey-orange example with overall bold definition to the design on both the obverse and reverse. Glossy surface texture is noted for accuracy, as is a moderate scrape in the right reverse field, but faint traces of luster persist to enhance the coins appearance. After striking a record (for the era) total of 2,976,453 circulation strikes in 1861, the Philadelphia Mint delivered just 92,133 double eagles for commerce in 1862. This marked reduction in output is a result of the suspension of gold specie payments by Northern banks in late 1861 due to the uncertain outcome of the Civil War. Most examples of this issue were used in export trade, survivors scarce and representing coins that have been repatriated in recent decades. The 1862 has never been represented in quantity in double eagle finds, however, an example being the treasure of the <em>S.S. Brother Jonathan</em> shipwreck that yielded just a single coin. This is clearly a significant offering for one of the rarest Philadelphia Mint double eagle of the Type I Liberty Head design.
