1862 Liberty Head Double Eagle. AU-53 (PCGS). CAC.Attractive deep khaki surfaces are undeniably original in preservation. The detail is bold to sharp throughout and the persistent viewer will be further rewarded with flickers of satiny mint luster. After striking a record 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 theem S.S. Brother Jonathan/em shipwreck that yielded just a single coin. With fewer than 300 coins extant in all grades, this exceptionally attractive AU clearly represents a significant offering for one of the rarest Philadelphia Mint double eagles of the Type I Liberty Head design.From the Fairmont Collection.
