Mint records indicate that 920,750 double eagles were produced at the San Francisco facility during 1867. As is typical of double eagles produced at this mint, they were heavily used in day-to-day transactions on the Pacific Coast, something completely opposite to the situation that prevailed in the eastern half of the United States, where precious metal coins were extensively hoarded and most transactions were conducted using paper money. Q. David Bowers estimated a Mint State population of just three to five different examples when he wrote his 2004 Guide Book of Double Eagles published by Whitman. This dovetails nicely with David W. Akers' research, as the latter found only three listings of Uncirculated specimens in a survey of more than 400 major auction sales. Although a small number of additional Uncirculated coins have slipped into the market in recent years, the 1867-S continues to be celebrated as a major condition rarity. Indeed, to the best of our knowledge this issue has not been widely represented in any overseas hoards.

Whether repatriated in modern times or in earlier decades, most Mint State 1867-S double eagles have one thing in common -- they are extensively marked and confined to the lowest Uncirculated grades such as MS-60 or MS-61.

The example to the left was sold by Stack's Bowers Galleries in the Fairmont Collection Hendricks Set, where it realized $168,000.