1865-S Liberty Head Eagle. AU-50 (PCGS). Appealing deep orange-honey surfaces with tinges of light rose. The strike is a bit soft in isolated areas, most notably around the obverse periphery and at the eagles head on the reverse, but otherwise we note suitably bold detail for a lightly circulated survivor of this challenging issue.<p>The 1865-S tells a familiar story for a San Francisco Mint eagle from the Civil War era. The mintage was small, in this case 16,700 pieces, and commercial demand for gold and silver coins on the West Coast was such that virtually all examples succumbed to the rigors of circulation. Attrition was exacerbated by the lack of contemporary numismatic demand for mintmarked coinage, especially in California.<p>There are two major varieties for this issue: the Normal Date, offered here, and the 865/Inverted 186. The former is rarer in todays market with <em>PCGS CoinFacts</em> providing an estimate of just 25 to 35 survivors throughout the grading scale. The offered coin is near the top of the <em>PCGS Population Report</em> for the Normal Date variety, which does not exceed AU-58. It is a Condition Census specimen that is worthy of serious bidder consideration. PCGS# 8642. NGC ID: 264G. PCGS Population: 5; 3 finer (AU-58 finest at this service).