Another Civil War Lady joins the Gold Dollar Collection ***1862***
ambro51
Posts: 13,949 ✭✭✭✭✭
Working the series from a rarity/semi rarity to common strategy pays off in a few ways. One of them is you can take your time and really study the more common coins, and cherrypick one that is PQ and at a good price. Now, the 1862 is a common gold dollar. There are over 8,000 in existance, among the highest surviving populations of the series. Though, just to add in, the total certified population of the 1909 SVDB is eight thousand also...... And like the SVDB, there are always a number of these on the market at any given time. The 1862 gold dollar has a rather rare variety, the doubled die obverse, which is known by the doubled row of upper beads on the headdress. These are rare, NGC showing 3 slabbed...but they DO pop up in normal collector sales, unnoticed.... so I look for this variety, and also check the coins for ones that look PQ.
And, though not in a pressing need to buy a 1862 just because it 'became available', such as may be the case should an AU55 1866 ever surface....I was able to take my time (!) and find this splendid example of the 1862 Gold Dollar. It has a combination of features which set it apart. The strike is very crisp, and the longacre doubling is well seen on the reverse lettering. This means the die has not been relapped, and has been strongly impressed by the mater hub to start with. Also, this coin has been struck with unclashed dies~ which is an uncommon happening. There were approx 50 die sets used in this coinage run, of over 1.3 million coins., so these dies were worked hard. There is still a cameo look, and especially important the loupe appeal is excellent, highlighted by the smooth nick free cheek. Yellow gold toning toward the edges of the coin, into the lettering, a nice indicator of original surfaces. There are some areas of granular appearance, that is normal and mint made, it opposes areas of high metal flow. The wreath tops are joined, this is a feature of the deeper cut of the longacre doubling in that area....a delightful feature with gold dollars!
When the small gold dollar was deemed a 'failure' it was decided to just get as many back in as possible, melt and recoin them. Only the western states were exempted from the small dollar recall. In the end, eight million were melted down. Can you imagine seeing them all? The bullion went into the larger coins, and also into an increased production for the gold dollar for 1861 and especially 1862. However, during that period, gold ceased to circulate, and a good portion of the 1862 gold dollar mintage was stored in government vaults, and what was not melted exists today...and perhaps this coin is one of that large group. Collectors were still able to purchase small numbers of gold dollars at a premium throughout this period however, so for any year goins were available, just difficult to get.
She is a nice coin. I really like the cut and style of the date, 1862.
1862 Gold Dollar ICGS MS61
And, though not in a pressing need to buy a 1862 just because it 'became available', such as may be the case should an AU55 1866 ever surface....I was able to take my time (!) and find this splendid example of the 1862 Gold Dollar. It has a combination of features which set it apart. The strike is very crisp, and the longacre doubling is well seen on the reverse lettering. This means the die has not been relapped, and has been strongly impressed by the mater hub to start with. Also, this coin has been struck with unclashed dies~ which is an uncommon happening. There were approx 50 die sets used in this coinage run, of over 1.3 million coins., so these dies were worked hard. There is still a cameo look, and especially important the loupe appeal is excellent, highlighted by the smooth nick free cheek. Yellow gold toning toward the edges of the coin, into the lettering, a nice indicator of original surfaces. There are some areas of granular appearance, that is normal and mint made, it opposes areas of high metal flow. The wreath tops are joined, this is a feature of the deeper cut of the longacre doubling in that area....a delightful feature with gold dollars!
When the small gold dollar was deemed a 'failure' it was decided to just get as many back in as possible, melt and recoin them. Only the western states were exempted from the small dollar recall. In the end, eight million were melted down. Can you imagine seeing them all? The bullion went into the larger coins, and also into an increased production for the gold dollar for 1861 and especially 1862. However, during that period, gold ceased to circulate, and a good portion of the 1862 gold dollar mintage was stored in government vaults, and what was not melted exists today...and perhaps this coin is one of that large group. Collectors were still able to purchase small numbers of gold dollars at a premium throughout this period however, so for any year goins were available, just difficult to get.
She is a nice coin. I really like the cut and style of the date, 1862.
1862 Gold Dollar ICGS MS61
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Comments
Heck of a year to be making little tiny gold coins. I would imagine that the bulk of the international exchanges were in larger sized denominations.
youre gonna cry when I tell you I got it for 300$.
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>What holds that back at a 61? >>
Rub, It IMO is a case study in the term slider. Still a great coin and I admire ambro and his set/site
nice strike looks better than a ms61 IMHO