1869 $20 MS64+ PCGS....

Description

1869 Liberty Double Eagle, MS64+
Conditionally Rare Type Two Issue
Near the Top of the Condition Census

1869 $20 MS64+ PCGS. From a mintage of 175,155 pieces, the 1869 Liberty twenty is the "second rarest Type Two double eagle struck at the Philadelphia Mint during the 1860s" according to Mike Fuljenz and Doug Winter. Like most Type Two twenties, the 1869 circulated heavily near the time of issue and very few were saved by contemporary collectors. Collecting large-denomination gold coins would not become popular in this country until the late 1930s, as the face value of each individual coin represented a large sum of money in the 19th century. Few collectors could afford to tie up enough cash to complete an extensive date run of double eagles, and the ones who could were usually satisfied to obtain a proof example from the Mint every year to update their collections. Today, the 1869 is easily located in VF-XF grades, but Mint State examples are very rare.

The 1869 double eagle was a well-produced issue, with better detail in Liberty's hair and sharper star radials than on many earlier issues. This may have been the work of William Barber, who succeeded James Barton Longacre as chief engraver in 1869. This coin is near the top of the Condition Census for the issue, as PCGS has graded two coins in MS64+, a single example in MS65, and none finer. NGC has graded no coin better than MS63 (7/16). The MS65 specimen is the coin that was once featured in Norman Stack's type set. It brought a record price of $299,000 when it was offered in lot 3319 of the FUN Signature (Heritage, 1/2008). The other MS64+ example is the coin from the famous Harry Bass Collection. We do not know of any prior appearances of the present coin. It has apparently been off the market for some time and should be a surprising treat for advanced collectors.

This coin exhibits razor-sharp definition on all design elements and the well-preserved orange-gold surfaces are remarkably free of mentionable flaws. Both sides are awash in vibrant mint luster and overall eye appeal is truly extraordinary. This coin should find a home in the finest collection or Registry Set.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26A5, PCGS# 8955, Greysheet# 9806)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View Certification Details from PCGS