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Lot
1751

1882 $20 XF45 PCGS....

2010 February Long Beach, CA Signature US Coin Auction #1137

 
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Auction Ended On: Feb 5, 2010
Item Activity: 10 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:
Legendary 1882 Double Eagle, XF45
One of Just 571 Business Strikes
1882 $20 XF45 PCGS. No coin can be summed up in a single number, though for the 1882 double eagle, three digits come close: 5-7-1. With just 571 business strike twenty dollar gold pieces made at Philadelphia that year, the 1882 is one of the indisputable rarities of the series, and if not for the continued existence of the two Philadelphia 1861 Paquet coins, it would be the key circulation-strike P-mint Liberty twenty. Looking at the wider picture, Garrett and Guth state in their Encyclopedia of U.S. Gold Coins that "The 1882 is actually one of the lowest-mintage U.S. gold coins."
Not only was the 1882 double eagle a low-mintage circulation issue, but it passed virtually unnoticed by collectors at the time. Garrett and Guth note that "... very few were saved, as most collectors at the time preferred Proof examples." Further, later: "there are probably fewer than 25 known in all grades," though that projection might be slightly low.
This honey-gold Choice XF survivor has clearly spent time in circulation, though the wear that affects the high points and much of the fields has left considerable reflective luster in the protected areas. The coin's definition, while strong, is clearly not of a proof standard, highlighting its circulation-strike status. Despite a number of abrasions, including marks below Liberty's eye and just south of star 8 on the obverse, the overall eye appeal is considerable. Population: 4 in 45, 10 finer (12/09).(Registry values: N4719) (NGC ID# 26BE, PCGS# 8996)

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