1854 $20 Kellogg & Co. Twenty Dollar MS62 NGC....
Appealing 1854 Kellogg Twenty, K-2, MS621854 $20 Kellogg & Co. Twenty Dollar MS62 NGC. K-2, R.4. The arrowheads on the reverse are long, and on the obverse the CO of KELLOGG & CO. is centered underneath two beads of the coronet. According to an October 2006 Coin World article by Brian Koller titled "Key differences clarify study of Kellogg $20 die varieties," research has uncovered two different obverses paired with the Long Arrows reverse, one of them, "Kagin-2a," unlisted in the 1981 Kagin reference. "K-2a" is apparently a great rarity, identified by larger letters in the coronet inscription than on the available K-2. Kagin notes that high-grade examples of the K-2 owe their existence to discovery of the "Thayer County Hoard" but unfortunately provides no further information.
This example of the K-2 is sharply struck in the centers and displays a rich overlay of reddish patina on each side. There are no singularly mentionable abrasions, and the eye appeal is abundant. Listed on page 372 of the 2009 Guide Book, and on page 287 of the Kagin reference. NGC has certified only two pieces finer (1/09). (PCGS# 10222)
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