Press Release - July 13, 2004

Heritage to sell Double Struck Double Eagle in their August 2004 Pittsburgh ANA Signature Sale

Dallas, Texas: One of just a handful of known double struck gold coins is being auctioned by Heritage at the Pittsburgh ANA convention, August 16-21, 2004. Heritage is the official auctioneer of the American Numismatic Association's National Money Show.

"This is a fabulous and incredibly rare error," noted Heritage Vice President Jim Stoutjesdyk. "This Double Eagle has been certified MS60PL and is classified as Double Struck by ANACS. It features an exceptionally bold strike and highly reflective, proof-like fields with some light hairlines, as is typically seen in this grade. The surfaces are extremely lustrous and the color is rich and full."

"Mint errors on United States' gold coins are very rare and in many respects are the créme de la créme of the error market," continued Stoutjesdyk. "It's been struck at least twice, with a visible slight rotation between strikes. As a result, there is prominent doubling on the date and the stars, along with Liberty's profile and hair. The doubling is also seen on the reverse, although to a less prominent degree than the obverse."

At least one major error and variety expert speculates that it was intended as a proof or as a trial strike of proof dies. Stoutjesdyk believes that "theories such as this only add to the mystery of the coin, and close inspection with a loupe rewards the viewer with prominent doubling on all of the obverse elements and invites one to form his or her own theory regarding its production."

He adds, "errors on United States gold coins are rare by the nature of their production, which included heightened quality control measures. Even insignificant errors on gold coins are prized by numismatists. It is truly an event when a major error such as this crosses the block. Recently, a 1904 Double Eagle certified by PCGS as MS63 Double Struck in Collar sold in a well-publicized private transaction for $102,000." Attesting to the importance of this piece, Stoutjesdyk stated, "This is arguably the most important gold error that Heritage has had the pleasure of selling at auction. An error of this magnitude would surely be a highlight of any top collection and could be a centerpiece of a Double Eagle aficionado's cabinet."

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