1865-S $10 865/Inverted 186 (Regular Strike)

Ron Guth:

This interesting variety was created when the three-digit 186 logotype was punched into the die UPSIDE DOWN, then corrected. The undertype is clearly visible, making this one of the most dramatic varieties of the series. The 1865-S over Inverted Date $10 is about twice as common as a regular 1865-S $10, but that is a relative term, since any 1865-S $10 is rare. The single Mint State example (PCGS MS64) was recovered from the wreck of the S.S. Brother Jonathan; apart from that important condition rarity, collectors must settle for a handful of AU pieces near the top of the Condition Census.

David Akers (1975/88): This variety was created when the first three digits of the date were punched into the die upside down (rotated 180 degrees from normal) and then were punched in their proper position. (This type of error also occurred on the 1841/81 and 1851/81 Large Cents.) Since this variety was only discovered circa 1960, it is probable that some of the earlier offerings of 1865-S Eagles were of inverted date coins, rather than normal date specimens. Although very rare, particularly in EF, this variety is not the great rarity it was initially touted to be and I feel that it is less rare than the 1865-S normal date. (Axiom: All newly discovered varieties are "extremely rare" with only one, two or three specimens known. This one was no exception.) This date always comes well worn and Fine or VF are typical. As a date, the 1865-S Inverted Date is comparable in overall rarity to the 1858-S, 1859-S, 1862-S and 1863-S.