1867-S Liberty Head Double Eagle. MS-61 (PCGS). CAC. An endearing piece, both sides are bathed in a blend of wonderfully original rose-gold patina and billowy mint luster. Boldly struck for this challenging double eagle type with a pleasingly original appearance. Mint records indicate that 920,750 double eagles were produced at the San Francisco facility during 1867, amounting to $18,415,000 in face value. As is typical of double eagles produced at this mint, they were heavily used in day-to-day transactions on the Pacific Coast, something completely opposite to the situation that prevailed in the eastern half of the United States, where precious metal coins were extensively hoarded and most transactions were conducted using paper money. Q. David Bowers estimated a Mint State population of just three to five different Mint State examples when he wrote his 2004 <em>Guide Book to Double Eagles</em> published by Whitman. This dovetails nicely with David W. Akers research, as the latter found only three listings of Uncirculated specimens in a survey of more than 400 major auction sales. Although a few more Uncirculated coins have slipped into the market in recent years, the 1867-S continues to be celebrated as a major condition rarity. Indeed, to the best of our knowledge this issue has not been widely represented in any overseas hoards. A highlight of the present sale, this piece is of further significance to advanced gold collectors as one of the two highest graded 1867-S double eagles verified by CAC. Sure to sell for a strong premium.
