As the Civil War intensified, gold coin production across the United States slowed dramatically. With Southern branch mints closed and economic instability rising, double eagles from 1862 and 1863 tell a compelling story of limited circulation, export, and long-term rarity. These issues, struck primarily at the Philadelphia and San Francisco mints, reflect both the wartime pressures on commerce and the emerging resilience of the West Coast gold supply.

A Changing Mint Landscape: Declines in Production and Surviving Populations

In both 1862 and 1863, Philadelphia struck far fewer double eagles than in earlier years. Gold hoarding, melting, and exportation further thinned the number of surviving coins. The 1862 Philadelphia issue, with a mintage just over 92,000, ranks as the rarest Type I double eagle from that mint, especially in high grades. The 1863 Philadelphia double eagle saw slightly higher production, but is still considered scarce, with fewer than 10 Mint State examples known.

At the San Francisco Mint, production figures were higher, but quality varied. The 1862-S and 1863-S double eagles were weakly struck and often heavily abraded, yet hoards such as the S.S. Brother Jonathan have helped improve their availability in About Uncirculated grades. Still, Mint State examples are elusive.

Notable Characteristics of 1862 and 1863 Issues

Strike & Surfaces: Coins from these years are typically weakly struck, particularly on Liberty’s obverse curls and the stars. Abrasions and signs of cleaning are common, especially on Philadelphia issues.
Luster & Coloration: Original luster varies. Coins with frosty or semi-prooflike textures are especially desirable. Natural coloration is often lost due to dipping, making untouched examples more valuable.
Rarity & Collectibility: Both 1862 and 1863 double eagles are among the rarest Type I issues in high grade. Certified examples with eye appeal are in strong demand and command premium prices.

Collecting Strategy: What to Look For

Prioritize certified coins from PCGS or NGC with good surface preservation and original luster.
Understand that sharp strikes are rare for these issues; focus on overall eye appeal.
Both dates present long-term opportunities for collectors of Civil War-era gold.

Explore the historically significant Type-1 Double Eagle gold coins at Finest Known. Acquire a tangible piece of American numismatic history from the heart of the Civil War era.