Only 1,000 1886 double eagles were struck for circulation. This is among the rarest Type Three issues, comparing favorably to the 1881 and the 1882, which also had very limited production runs.

Expert’s Corner: 1886 Double Eagle

The 1886 is one of my favorite dates in the entire Type Three series and is often one of the highlights of advanced collections. For the collector with a high coin budget, the purchase of this issue is highly recommended, as I believe it will rise in price.

The few business-strikes that exist do show a good quality of strike. Both the obverse and the reverse have fully defined centers, and the stars on the obverse show full radial lines. The surfaces on most are a bit less abraded than one might expect, likely due to the fact that this issue saw limited circulation and doesn’t appear to have been exported. Some survivors have small but deep marks in the fields, and a number have been cleaned at one time. The luster is slightly frosty with much proof-like reflectiveness seen in the fields. The coloration on the few uncleaned pieces which exist is generally a rich green-gold hue with occasional splashes of medium to deep orange-gold. The level of eye appeal is usually about average to slightly below average. There are a few well above-average examples of the 1886 known, and the finest, graded MS65 by NGC, is owned by a Midwestern collector.

1886 Double Eagle: Business-Strike vs. Proof Varieties and Rarity

Business-strike 1886 double eagles have a date position which is different than that found on proofs. It is slightly higher and placed somewhat more to the left. On proofs, the tail feathers on the far right (directly below the shafts of the arrows) appear broken due to die polishing. On business strikes, these feathers are more complete.

It is likely that around 60 business-strike 1886 double eagles are known, with most in the AU grade range. There are at least four or five in uncirculated with a single coin graded MS65 by NGC.

Due to the comparatively high mintage figure of 106, proof 1886 double eagles are actually more available than other dates from the earlier part of the 1880s with about three dozen known. Most grade PR63 to PR64 and gems are very rare.