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1882 $20 AU50 PCGS. The 1882 double eagle has the lowest mintage recorded for any business strike regular issue double eagl...

2006 July Dallas, TX Coin Signature Auction #407

 
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Auction Ended On: Jul 7, 2006
Item Activity: 10 Internet/mail/phone bidders
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Description:
Incredibly Rare 1882 Double Eagle AU50
1882 $20 AU50 PCGS. The 1882 double eagle has the lowest mintage recorded for any business strike regular issue double eagle. This includes such major rarities as the legendary 1870-CC, as well as the well known rarities from the New Orleans Mint, the 1854-O, 1855-O, and the 1856-O. It would also include the 1885 and 1886 Philadelphia issues, close cousins with mintages of 751 and 1,000 business strikes, respectively. Since both major grading services together have graded a total of 26 pieces of the 1882 in all grades--undoubtedly including possible multiple resubmissions of the same coin, and crossovers from one service to another--it seems probable that only 15 to 20 coins exist, possibly even less. The Bowers double eagle reference comments, "Rare in all grades. Impossibly rare in Mint State." With a total recorded mintage of 590 business strikes and 59 proofs, it is no surprise that the same die was apparently used for both. Breen's Encyclopedia describes it thusly: "Very low date, l. base of 1 minutely r. of l. edge of dentil; feathers behind neck lapped away, not touching scroll; both scrolls and 2 rightmost pale gules thin." The last digit 2 in the date appears to lean minutely to the right. A search through our permanent auction archives reveals that we have offered an example of this piece in any grade only seven times in the past 13 years. The present example has delightful straw-gold color, deepening to copper at the rims, with--not surprisingly--prooflike surfaces. A few light, grade-consistent abrasions are noted, and a couple of small grease stains on the obverse. Expect intense competition. Population: 2 in 50, 8 finer (6/06).(Registry values: N7079) (NGC ID# 26BE, PCGS# 8996)

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