1865-S Eagle Inverted 186 - 1865-S $10.00, Inverted 186, NGC AU55. This rare, inverted date, Western branch mint 1865-S Eagle is tied for second finest at NGC and PCGS. This 1865-S Eagle coin has remaining mint luster in protected areas of both sides. Other than a small scratch next to star 10, the surfaces of this 1865-S Eagle are clean for the grade and original. About one third of the stars show strong centers, and the reverse periphery is well struck. The underdate is clearly visible without magnification.

The variety was caused when the engraver punched the logotype that holds the 186 of the date upside down. In 1844 and 1851 similar errors occurred on the large cent. In 1858 it happened again on the half dime. He made other errors in the series including 1846-O, 6 over 5; 1849 over 1848; and 1853, 3 over 2.

Between 1805, when President Thomas Jefferson ordered mintage of gold eagles stopped, and 1837 no gold eagles were made. Coinage was of this denomination was resumed with Christian Gobrechts Coronet eagle Liberty, Head No Motto. The size, weight, and fineness were reduced so that the Coronet eagle Liberty Head, No Motto coins were not intrinsically worth more than their denominated value.

The Coronet Liberty Head, No Motto eagle shows Liberty facing left in profile wearing a LIBERTY inscribed coronet with her hair tied in the back in beads. Two long curls hang down her neck, one in the back and the other on the side. She is surrounded with thirteen six-pointed stars. The date is below the truncation, which shows no drapery. The motif is taken from a Benjamin West painting of Venus. It was also used with modifications for the Large Cents of 1839. The reverse shows a heraldic eagle with outstretched wing looking to the left. On its chest is the Union shield. In its talons it holds the olive branch and arrows. The error in the previous issue, Scots eagle held the arrows and the olive branches in the wrong talons, is corrected. Except for the tips of the eagles wings UNITED STATES OF AMERICA surrounds the reverse, separated from the denomination TEN D. by dots. Dentils are near the edge on both sides of the coin, and the edge is reeded.

Christian Gobrecht became the third Chief Engraver at the United States Mint. He was born in Hanover, Pennsylvania in 1785. His father was a German immigrant, and his mother traced her ancestry to the early settlers of Plymouth, Massachusetts. Gobrecht married Mary Hewes in 1818. One of his early positions was as an engraver of clocks in Baltimore. Later he went to Philadelphia where he became a banknote engraver. He invented a machine that allowed one to convert a three-dimensional medal into an illustration.

This was an excellent job and Gobrecht was understandably reluctant to work for the Mint for less money than he was making at the engraving firm. In order to persuade him to leave, Mint Director Robert Patterson prevailed upon Chief Engraver William Kneass, who had had a stroke, to take less in salary so more money would be available to hire Gobrecht on a permanent basis. In 1826 Gobrecht did his first work for the Mint as an assistant to Kneass. After Kneass stroke, Gobrecht did all the die and pattern work for the Mint.

He became Chief Engraver in 1840 and served until his death in 1844. He was famous for his Liberty Seated motif which was used for all denominations of silver coinage including the half-dime, dime, quarter dollar, half dollar and silver dollar. He also designed the Liberty Head gold eagle, a motif that was also used on the half-cent, the cent, the gold quarter eagle, and the gold half eagle.

The San Francisco Mint opened in 1854 because of the need to coin gold resulting from the California Gold Rush. In the West there was an abundance of gold bullion, nuggets and dust; however, there was also an acute shortage of circulating coinage. Congress authorized this mint to relive the shortage and coin silver and gold and because transportation of bullion to Philadelphia was time consuming and hazardous. Because of its proximity to the Gold Rush area, San Francisco was chosen as the site of the new mint. In 1874 it moved into a new building called the Old United States Mint or the Granite Lady. It is one of the few structures that survived the earthquake of 1906. It remained in service as a mint until 1938, when the present facility opened.

With only 40 to 60 pieces known to exist today, the Inverted 1865-S eagle is rare in all grades. In its population report, NGC shows 3 in AU55 condition with 2 better. At PCGS there is 1 in AU55 with 1 better.