1865-S Liberty Head Double Eagle: A Collector’s Guide

The 1865-S Liberty Head Double Eagle is a fascinating piece of U.S. numismatic history. Minted during the final year of the American Civil War, this coin captures the economic and historical turbulence of its time. As part of the $20 gold coin series introduced in 1850, the 1865-S Double Eagle remains a sought-after collectible for its historical significance, rarity, and enduring gold value.

This guide will explore the history, design, minting details, and collectibility of the 1865-S Liberty Head Double Eagle, offering insights for coin enthusiasts and investors alike.

Historical Context

The Liberty Head Double Eagle series began in 1850 as a response to the California Gold Rush, which significantly increased the supply of gold in the U.S. economy. Designed by James B. Longacre, the series lasted until 1907, covering a pivotal period in American history that included the Civil War and Reconstruction.

The 1865-S Double Eagle was minted at the San Francisco Mint (“S” mintmark), which played a crucial role in converting California gold into coins. The year 1865 marked the conclusion of the Civil War and the assassination of President Abraham Lincoln, making this coin a tangible relic of a transformative year in American history.

Design Features

The 1865-S Liberty Head Double Eagle features the classic design by Chief Engraver James B. Longacre, which exudes elegance and grandeur.

• Obverse: The obverse features a left-facing portrait of Lady Liberty wearing a coronet inscribed with the word LIBERTY. Thirteen stars encircle Liberty, representing the original thirteen colonies, and the year 1865 is displayed beneath the portrait.
• Reverse: The reverse showcases a heraldic eagle clutching arrows and an olive branch, symbolizing readiness for war and a desire for peace. The eagle is surrounded by the inscription UNITED STATES OF AMERICA and the denomination TWENTY D. The “S” mintmark, indicating the San Francisco Mint, is located above the denomination.

Minting Details

The 1865-S Double Eagle was minted exclusively at the San Francisco Mint, which was the primary facility for striking gold coins from California’s abundant gold supply. Approximately 1,168,000 coins were struck, making it a relatively common issue for the series in terms of mintage numbers.

However, most of these coins saw heavy use in commerce, particularly in the Western United States. As a result, high-grade examples are scarce, and uncirculated specimens are exceptionally rare.

Value and Collectibility

The 1865-S Liberty Head Double Eagle holds appeal for collectors due to its historical context and gold content. The coin is composed of 90% gold and 10% copper, with a total gold weight of approximately 0.9675 troy ounces.

• Circulated Grades: Most surviving examples are in circulated grades, such as Very Fine (VF) or Extremely Fine (EF), with prices ranging from $2,500 to $5,000, depending on the grade and market conditions.
• Uncirculated Grades: Coins in Mint State (MS) grades are highly sought after and can command tens of thousands of dollars. For example, an MS62 coin might fetch $25,000 or more.
• Shipwreck Specimens: A significant number of 1865-S Double Eagles have been recovered from shipwrecks like the SS Republic and the SS Brother Jonathan. These coins often have unique provenance and appeal, with prices reflecting their historical significance.

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Conclusion

The 1865-S Double Eagle offers a blend of historical importance, aesthetic appeal, and intrinsic value. As a gold coin struck during a pivotal year in American history, it provides a tangible connection to the Civil War era. Its association with shipwreck recoveries adds an element of intrigue and narrative, making it a centerpiece in any collection of U.S. gold coins.

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