Beginning with this issue, business-strike Philadelphia double eagles from this decade became less scarce.

Expert’s Corner: 1893 Double Eagle

The 1893 double eagle is a generic issue in grades up to MS62, but if you can buy one for levels similar to a date like a 1904, it is good value. In MS64, I think this date is one of the more undervalued Type Three double eagles from the 1890s, and I recommend it.

The 1893 is a well struck issue. Most are sharp at the centers and borders. The surfaces are usually heavily abraded. Of all the common Philadelphia issues from the 1890s, the 1893 is probably the most difficult to locate with choice surfaces. The luster on this date tends to be excellent. Most are very frosty; a few show a more grainy texture. The coloratio n on uncleaned, original pieces is most often a medium orange-gold or pale rose shade. Some are seen with a greenish hue which is less attractive. The level of eye appeal is average. Most are heavily bagmarked, limiting the grade. Pieces which are visually pleasing and lightly marked are harder to find than most collectors realize.

1893 Double Eagle: Rare Proofs and High-Grade Survivors

The mintage figures for proofs dropped to just 59, and survivors are very rare. Due to severe economic conditions which existed in the United States in 1893, it is possible that a number of proofs were melted or placed into circulation. There appear to be 15-20 known, and this is actually among the rarest proof Type Three double eagles.

Business-strike 1893 double eagles are extremely common in grades up to and including MS62. This date is not easy to locate in MS64, as about 225 have been graded by NGC and PCGS combined. There are only one or two MS65 graded coins known.