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Lot
4890

1850-O $20 MS61 PCGS. CAC. Variety 1....

2014 June 4 - 8 US Coins Signature Auction - Long Beach #1206

 
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Auction Ended On: Jun 5, 2014
Item Activity: 11 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:

1850-O Double Eagle, MS61
Finest at PCGS, Only One Finer at NGC
1850-O $20 MS61 PCGS. CAC. Variety 1. The 1850-O double eagle was the first-year regular-issue twenty dollar gold coin, authorized by the Act of March 3, 1849, as well as the first twenty dollar gold piece produced at a branch mint, adding to its popularity with collectors. The New Orleans mintage consisted of only 141,000 coins and surviving examples are rare, with Mint State survivors being exceedingly rare. This is the sole example awarded a Mint State grade by PCGS out of the 235 coins they have certified, with NGC having awarded Mint State grades to only five examples; 2 in MS60, 2 in MS61, and one MS62 among the 298 pieces they have handled, with some degree of crossover likely skewing the totals.

To compound the scarcity, there are three varieties of the 1850-O double eagle, with only Variety 3 considered common. A Mint State example of the better Variety 1, the only variety with an Open 5, with the other diagnostic being the mintmark not touching the tailfeathers. This coin exhibits yellow-gold color on the obverse, with the reverse displaying shades of orange, red, and green-gold. The peripheral detail is lacking, particularly on the obverse, with areas of softness present at the central reverse as well. As expected at this grade level, numerous signs of contact appear, though aside from a mark to the right of star 5 on the obverse, none are worthy of individual mention.

The few examples graded finer than MS60 rarely appear at auction, with the last MS61 offering occurring in March 2009, a Variety 3 example though not listed as such. This is a rare opportunity to obtain one of the finest-certified examples to add to a stellar collection. Population: 1 in 61, 0 finer (4/14).(Registry values: N7079) (NGC ID# 268G, PCGS# 8903)

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