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SERIES: Liberty Head $2 1/2 1840-1907
LEVEL: Year, MintMark, & Major Variety

1862/1 $2.50 (Regular Strike)

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PCGS AU58
Image courtesy of Heritage Numismatic Auctions

OVERDATE CLOSEUP
Image courtesy of Heritage Numismatic Auctions

PCGS MS64
PCGS #:
7797
Diameter:
18.00 millimeters
Designer:
Christian Gobrecht
Weight:
4.18 grams
Edge:
Reeded
Mintage:
98,508
Metal Content:
90% Gold, 10% Copper
Auction Record:
$13,800 • PCGS MS62 • 6-13-2005 • Stack's
Rarity and Survival Estimates (Explain)
Grades Survival
Estimate 
Numismatic
Rarity 
Relative Rarity
By Type 
Relative Rarity
By Series 
All Grades 50 R-8.5 8 / 147 TIE 8 / 147 TIE
60 or Better 5 R-9.7 27 / 147 TIE 27 / 147 TIE
65 or Better 0 R-10.1 1 / 147 1 / 147
Condition Census (Explain) Show more rows
Pos Grade Thumbnail Pedigree and History
1 MS63 estimated grade  
2 MS62 PCGS grade  

Stack’s 6/2005:1925, $13,800

2 MS62 PCGS grade  
4 MS61 PCGS grade  
4 MS61 PCGS grade  
Condition Census (Explain) Show fewer rows
Pos Grade Thumbnail Pedigree and History
1 MS63 estimated grade  
2 MS62 PCGS grade  

Stack’s 6/2005:1925, $13,800

2 MS62 PCGS grade  
4 MS61 PCGS grade  
4 MS61 PCGS grade  
6 AU58 PCGS grade  
6 AU58 PCGS grade  
6 AU58 PCGS grade  
6 AU58 estimated grade  
6 AU58 estimated grade  
David Akers (1975/88): This overdate was discovered just a relatively few years ago, and therefore, as with most new discoveries, it has been touted as being much more rare than it actually is. A number of specimens have come to light in recent years and, although the 1862/1 is certainly rare, there are many more specimens in existence than the "three or four known" indicated by some dealers.

The 'overdate" is fairly plain, although the 1 is not as distinct as it is on many earlier "2 over 1" overdates, or on the 1942/1 mercury dime. Rather than a raised digit 1 under the 2, there is a "rough spot" in the shape of a 1 at the opening of the 2. I have described this overdate in detail because I am always somewhat skeptical of overdates where the bottom digit does not show plainly. However, I do feel that there is a good chance that this 1862/1 is a legitimate overdate. It would be difficult to estimate the population of the 1862/1 accurately, but since I have seen at least a half dozen different specimens in the last year or two alane, I would guess that there are at least fifteen to twenty pieces known, If not more.