Of the three different double eagles prod during this year, the 1878-P is the most available. It remains scarce and undervalued in higher grades.

Expert’s Corner: 1878 Double Eagle

The 1878 is more available in the lower uncirculated grades than it was when the first edition of this book was written in 2000. But it remains a favorite of mine in MS62 and higher. I suggest you look for an example with fewer marks than usual and good, natural color.

This is a very well-made issue. On most coins, both the obverse and the reverse are very well-defined at both the centers and the borders. As on most Type Three double eagles that were made prior to 1890, the surfaces on the typical 1878 show numerous deep, detracting marks. Examples that are relatively free of marks are very hard to locate, and a clean, high quality coin is not only rare, it sells for a strong premium. The luster on most 1878 double eagles is very good with a thick, frosty luster being the texture most often seen. A few show semi-proof-like fields, but these coins are usually abundantly marked. 

1878 Double Eagle: Proof Rarity and Mint State Survivors

Original, uncleaned pieces show color that ranges from orange-gold to rose to light green-gold. Locating an example with good eye appeal is not an easy task due to the tendency for coins of this date to show the heavily abraded surfaces described above.

Just 20 proofs were produced. It is estimated that no more than 10 to 12 are known today, making this issue one of the two or three rarest proof Type Three Liberty Head double eagles.

The 1878 is not often seen in circulated grades lower than AU55. It is not a hard issue to find in the lower uncirculated grades (MS60 and MS61), and it is moderately scarce in MS62 with less than 750 known. In properly graded MS63, it is very scarce. The 1878 double eagle is a rare issue in MS64 with about 10 known.