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Lot
5552

1882 $20 AU58 NGC....

2014 January 8 - 12 FUN US Coin Signature Auction - Orlando #1201

 
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Auction Ended On: Jan 9, 2014
Item Activity: 4 Internet/mail/phone bidders
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Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:
1882 Double Eagle, AU58
Only 571 Business Strikes Made
1882 $20 AU58 NGC. Ex: Eagle Collection. The 1882 has the lowest mintage figure of any regularly distributed double eagle at 571 pieces (this distinction excluding the 1861 Philadelphia twenty with Paquet reverse), and its rarity goes beyond initial mintages to how many examples are available in practice; Garrett and Guth suggest "there are probably fewer than 25 known in all grades." Working against the 1882 double eagle business strikes is the then-contemporary collecting habit of acquiring proofs rather than high-end examples intended for circulation, which has led to the survival of a handful of beautiful proofs but fewer than half a dozen Mint State representatives from those 571 business strikes.

Near-Mint examples of the 1882 double eagle are nearly as rare as those in Mint State, though the tendency to resubmit high-end representatives in a try for a better grade has inflated their numbers somewhat, to a combined certified population of seven AU58 coins against four finer (11/13). This piece, however, has stayed in the same pedigreed holder in the decade since its last auction appearance with Heritage.

As is unsurprising for an issue with a short production run, there is considerable reflectivity to this example's pale wheat-gold fields, though the wateriness of that reflectivity, which results in an intermittent flash and partial cartwheel luster, disproves a proof origin. The strike qualities are excellent, and though both sides are moderately abraded with a deep diagonal strike below the first A in AMERICA on the reverse, the overall eye appeal is surprisingly strong.
Ex: Eagle Collection (Heritage, 1/2002), lot 4088; FUN Signature (Heritage, 1/2004), lot 3165.
From the collection of Donald E. Bently, sold for the benefit of the Bently Foundation.(Registry values: N7079) (NGC ID# 26BE, PCGS# 8996)

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