1862 $10 Liberty Head Eagle PCGS AU58 Ex.Fairmont Collection

David Akers writes, “The 1862 is a rare date in any condition.”

Writes Heritage Auctions, “By [1862], unbacked Federal paper money had driven gold coins out of circulation, except in the far West. The 1862 ten dollar mintage is only 10,960 pieces, and Borderline Uncirculated examples are rare.” PCGS has graded 12 as AU58 with only 6 finer. The finest at PCGS is MS61. Collector’s Universe prices this issue at $22,500.00 in AU58.

The Mint stopped specie payments in Spring 1862, which explains the low mintage of $10 Liberty head gold pieces that year. This very popular issue is noteworthy for its rarity in each and every grade. Heritage Auctions estimates that only 100 pieces exist today, based on the research of David Bowers and Doug Winter. 

Virtually the entire mintage of this Civil War-era issue was hoarded, and then later melted or exported. The result is that most survivors, when found, tend to be well worn examples that grade VF to XF. Mint State survivors are very difficult to obtain.

Christian Gobrecht, who designed the Liberty head design for the $10 gold piece and other gold coins. Photo: Wikimedia Commons.