1865-S $10 MS(PCGS#8642)

November 2025 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3150

Grade

AU55

Price

20,400

Lot Description

An outstanding offering for this underrated variety of the rare and conditionally challenged 1865-S eagle. This delightful piece offers strong eye appeal derived from a blend of deep olive undertones and warmer pinkish-orange color. Softness to the high points of the eagle and several of the stars on the obverse is noted, although hardly unusual for an S-Mint eagle from the 1860s. Otherwise we note bold to sharp detail in the absence of all but trivial rub. Wispy handling marks and a touch of glossiness to the texture are noted for accuracy, but much frosty luster remains. Clearly only the strongest bids will be competitive for this noteworthy example.<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 today's market with <em>PCGS CoinFacts</em> providing an estimate of just 25 to 35 survivors throughout the grading scale. The offered coin is among the finest listed in the <em>PCGS Population Report</em> for the Normal Date variety, and it is one of the very finest certified 1865-S eagles obtainable by gold enthusiasts. A high Condition Census specimen worthy of the strongest bids.