1879-O $20 MS60 NGC....

Description

1879-O Double Eagle, MS60
Only Two Finer

1879-O $20 MS60 NGC. Ex: Eagle Collection. The New Orleans location was the only one of the Southern mints to reopen after the Civil War. James Pollock, Director of the Mint from 1861-67 and 1869-73, provided his opinions about the Charlotte and Dahlonega locations during the war. In 1862 he stated, "No consideration, of public or private interest, would under the most favorable circumstances, justify the reopening of the branches at Dahlonega or Charlotte. They ought not to have been established; and having been the sources of useless expenditures, they should not even in the event of the States in which they are respectively located returning to their allegiance, be again employed for minting purposes." The Charlotte Mint never resumed coin production, but the facility was used as an assay office beginning in 1868. The Dahlonega Mint was evaluated in 1865 in order to determine whether it should resume coining operations or be used as an assay office, but neither option was chosen. Pollock expressed at that same time however that he believed the New Orleans facility should reopen as a Mint after the Civil War ended.

After the conclusion of the Civil War, over a decade passed before the U.S. Mint facility in New Orleans was operational in any regard. The location reopened in October 1876 as an assay office. Numerous repairs had to be made and new equipment procured and installed before coin production could be resumed. Finally, in 1879, the New Orleans Mint commenced minting coins again, including the 1879 double eagles.

A desirable coin, the 1879-O is the only Type 3 double eagle produced in New Orleans and had a low mintage of only 2,325 pieces. The issue is known as exhibiting one of the better strikes of the series produced in New Orleans. There are only about 150 known survivors, with the majority appearing in the Very Fine to Extremely Fine range.

A gorgeous MS60 example, this piece is one of only eight at NGC and PCGS combined to achieve that grade level, with only two finer, both at NGC, an MS62 and an MS63 (11/13). The surfaces of this coin display rich yellow-gold color and prooflike luster. As expected, scattered marks are present, but they are inconsequential.
Ex: Superior (1/1993), lot 1539; Rarities Sale (Bowers & Merena, 8/1996), lot 425; Eagle Collection (Heritage, 1/2002), lot 4082.
From The Douglas Martin Collection.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26B8, PCGS# 8990, Greysheet# 9931)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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