The 1881-S is similar to the 1880-S double eagle both in terms of its overall and high grade rarity. But the 1881-S remains harder to find in grades higher than MS62.

Expert’s Corner: 1881-S Double Eagle

I would avoid this date in grades lower than MS61, but I like the 1881-S a lot in MS61 and higher. In the last few years, the value of MS62’s has risen significantly and with MS63 coins nearly impossible to find, I think they will continue to show appreciation.

This is an issue that is found with a good overall quality of strike with the exception of some of the fine detail on the hair of Liberty. Most 1881-S double eagles are noticeably abraded, and it is hard to find pieces that do not have impaired luster as a result. 

1881-S Double Eagle: Luster, Coloration, and Eye Appeal

The luster is good (in the areas that are not abundantly bagmarked), and it shows a very rich, frosty texture. A few exist with proof-like fields, but these tend to have poor eye appeal as the marks are reflected by the mirror-like finish. The colors seen range from rose and green-gold to a bright orange-gold hue. The level of eye appeal is comparable to that seen on the 1877-1880 San Francisco double eagles. With time and patience, a collector should be able to find an acceptable 1881-S, but it will prove to be extremely challenging to find a coin that is not heavily marked.