1858

Philadelphia struck 211,714 double eagles in 1858, a meaningful drop from the prior year's 439,375 figure as bullion deposits to the parent mint contracted in the aftermath of the Panic of 1857. The decline was the start of a sharper drop that would bottom at the 43,597-piece 1859 mintage before recovering with the 577,670-piece 1860. The 1858 production paired with a 35,250-piece 1858-O issue and an 846,710-piece 1858-S output, with San Francisco continuing to outproduce the parent mint as had become the pattern by the late 1850s. Design specifications are unchanged from prior Type I issues. The 1858 sits as a moderately scarce date in the Type I Philadelphia run, more difficult than the 1850-1856 high-mintage issues but more available than the genuinely scarce 1859.

Strike quality on 1858 Philadelphia is generally good, with crisp obverse star definition and full coronet detail on most well-preserved examples. Wear on circulated coins concentrates on Liberty's hair above the ear, the coronet, and the eagle's shield and breast feathers. Survival is weighted toward circulated grades through AU; Mint State examples are scarce, with MS62 and finer pieces individually significant when offered. The lower mintage relative to early Type I dates means fewer bag-marked examples relative to total population; surviving Mint State coins tend to show better surfaces than typical for the high-mintage Philadelphia issues. Counterfeit exposure tracks the Type I baseline; PCGS or NGC certification is the standard authentication path for any 1858 priced above bullion floor.

Market position for 1858 Philadelphia sits above the early 1850s common dates and below the 1859 scarcity. Pricing in VF through AU runs in the mid four figures, MS60 reaches the high four to low five-figure range near $9,000, and MS63 sits near $50,000 at current market. MS64 and finer examples are condition rarities for any Type I date and trade at registry-set premiums. For type-set collectors, the 1858 is a workable Type I representative at modestly higher pricing than the 1850-1856 alternatives. For date-and-mint set builders, it is a routine acquisition typically handled in the AU through MS62 grade range. European bank hoard returns supplied a portion of the surviving Mint State population. Acquisition is certified only at this unit value. For the broader context of the Type I Philadelphia mintage decline through the late 1850s, see the Liberty Head Gold Double Eagles history article.