The 1882 is the rarest Type Three double eagle produced in business-strike form. It has the lowest mintage figure of any regular issue double eagle produced in both business-strike and proof forms combined.

Expert’s Corner: 1882 Double Eagle

Even I have not handled more than a few 1882 double eagles, and this is a date that I would strongly recommend purchasing in any grade.

The 1882 is a well-produced issue. All display a good overall strike with the obverse details mostly complete. On the reverse, there is some weakness near the head of the eagle and on the shield. This was mint-produced, and it is seen on all examples. The surfaces tend to show fewer marks than on the other low mintage business-strikes of this era. The 1882 seems to have seen little circulation, and most are found in the about uncirculated grades. Every known example is proof-like to some degree. A collector might mistake a business-strike for a proof if he is not aware of the diagnostic criteria for both formats (see below). The coloration on the few known pieces that have not been cleaned or dipped is a medium yellow-gold, and some show pleasing russet or light coppery-gold overtones. The great rarity of this date makes its eye appeal less important than a date which is not rare. A coin like the 1882 should be held to a different set of eye appeal standards than other dates.

1882 Double Eagle: Survival in Proofs and Business Strikes

Business-strikes have a higher date position than proofs. In addition, business-strikes have weakness on the scroll ends near the head of the eagle; these are sharp and fully formed on proofs. Also on proofs, a few of the vertical stripes in the far right side of the shield are detached; these are sharp and fully formed on business-strikes.

There are around 13-17 proofs known from the original mintage of 59.These are always in great demand. Business-strike 1882 double eagles are very rare in all grades with an estimated three dozen known. Most are seen in the lower about uncirculated grades, and a properly graded AU58 is approaching the Condition Census. There are about five known in uncirculated.