LIBERTY
HEAD (NO MOTTO ON REVERSE) TWENTY DOLLARS OR DOUBLE EAGLE
(1849-1866)
1863-S Double Eagle
1863-S
Double Eagle
PCGS No:
8940
Mintage:
Circulation
strikes:
966,570
Proofs:
None
Designer:
James Barton
Longacre
Diameter:
±34
millimeters
Metal content:
Gold - 90%
Other - 10%
Weight:
±516
grains (±33.4 grams)
Edge:
Reeded
Mintmark:
"S"
(for San Francisco) below the eagle's tail on the
reverse.
Introduction:
The 1863-S double eagle has been one of those issues
that was always available in low grades but very rare
in high grades. The discovery of the S.S. Republic and
S.S. Brother Jonathan brought to light nearly 300 new
and relatively high-grade examples. The majority of
the coins found are in the About Uncirculated range,
but there were several choice pieces located. An NGC
MS-62 coin from the Brother Jonathan sold at auction
in 2005 for 516,675. Low grade examples can be purchased
for the price of a common double eagle of this type;
these $20 pieces are an incredible bargain for collectors
of interesting Civil War-era coins. Key to Collecting: The 1863-S double
eagle is readily available in circulated grades, with
VF being the norm. The treasure from the S.S. Brother
Jonathan brought to market a group of AU and Mint State
coins, accounting for most of the higher grade pieces
known today, although at least a dozen different Mint
State coins were on the market in earlier times. Aspects of Striking: Usually well struck.
High grade specimens have lustrous surfaces. Die Data: Standard four-digit logotype
punch for this year. 4 1863-dated obverse dies were
sent to San Francisco in November 1862 and 6 more in
the following March, the latter shipment including 4
reverse dies as well. Old reverses were used in addition
to the new ones. The San Francisco Mint used many cracked
reverse dies, seemingly keeping them in use for a longer
period of rime than was done at the Philadelphia Mint.
Aledium S (sometimes called Large S) mintmark is the
style usually seen; the Small S exists and is much rarer. Thomas G. Melish and Clinton W. Hester Collections
(A. Kosoff, April 1956) Lot 915: "1863-S. Large
S centered over N.
Very Fine. "Realized $50. Another: Lot 916: "1863-S.
Small S over left ofN. Almost Extremely Fine. A nice
coin." Realized $48. Harry W. Bass, Jr. Collection Part III
(Bowers and Merena Galleries, May 2000) Lot 814 "1863-S
MS-62 (PCGS).... Die
crack at rim joining bottom 186. Several fine die cracks
spider web through most of the legends with a heavy
die crack starting at the rim connecting the tops of
MERIC and just missing the top of A back to the rim.
Purchased from Stack's. April 28. 1972. Realized $11,500. Dallas Bank Collection (Sotheby's /
Stack's, October 2001) Lot 38: "1863-S Choice Brilliant
Uncirculated, a virtual gem. The Alters plate coin.
One of the finest known.... An astonishingly important
coin, especially caking into consideration the fact
that of all the S.S. Brother Jonathan examples, there
was not a single coin to compare. Indeed it is unlikely
that a finer example has ever been offered publicly."
Realized $23.000.
Number of Appearances:
72 (16%)
High Grade Condition Points: 19
Auction Records:
(15) Unc:
Stack's 9/81; New England 11/80, 7/80,
1/80; ANA 1979; Ivy 12/76; ANA 1976; Pine Tree 6/75,
2/75; AAA 1/75; Stack's 6/74, 2/73; Miles 1968;
Stack's 4/67; MC 1948
(19) AU: Paramount 11/80; New England
4/80; Superior 10/79; Stack's 6/79; New England
3/79, 11/78; B&R 2/78; New England 7/77, 12/76;
ANA 1976; ANA 1975; Pine Tree 6/75; AAA 11/74; Superior
10/74; GENA 1974; Stack's 6/72; Baldenhofer 1955;
Kern 1950; Bell 1944
(21) EF: Coin Galleries 9/81; Stack's
6/81, 2/80, 12/79, 10/79; B&R 6/79 (2); Ivy
2/79; Stack's 2/79; B&R 2/79; Stack's 10/78,
6/77; ANA 1976; ANA 1975; Stack's 6/70; Paramount
11/69; ANA 1969; Stack's 1/69; Bell 1963; Baldenhofer
1955; Smith 1955
Comments: The 1863-S double eagle is a moderately scarce
date in all grades with most of the available specimens
grading only VF or EF. In AU, this date is very scarce
and in average uncirculated condition it is quite
rare. Choice and gem quality examples do exist but
they are definitely rare. However, among Type I Double
Eagles from the San Francisco Mint, this is one of
the most often encountered dates in original uncirculated
condition. Only the 1856-S is available more often.
(Several other early S-Mints, notably the 1854-S and
1855-S, are also seen more often in Unc. than the
1863-S but most uncs of these two earlier dates are
the "saltwater" variety and not original.)
