1869 Liberty Head Double Eagle. AU-55 (PCGS). CAC.Pleasing medium gold surfaces are frosty and lustrous with a bold strike that is particularly impressive around the obverse periphery and throughout the reverse. The 1869 is one of the more elusive Type II Liberty Head double eagles, the series as a whole challenging to locate in high grades. Government records indicate that 175,130 circulation strike double eagles were produced at the Philadelphia Mint in 1869, amounting to $3,502,600 in face value. Although the Civil War had concluded several years earlier, public confidence in the post-war economy continued to be weak in the East and Midwest, and consequently precious metal coins were hoarded rather than used in day-to-day transactions. Accordingly, it is likely that many double eagles minted in 1869 were used for overseas trade. Unfortunately, few if any high grade examples have turned up in European bank hoards. With Mint State survivors rare, this solidly graded Choice AU will certainly catch the eye of astute bidders.From the Fairmont Collection.
