1881 $20 MS60 NGC....

Description

1881 Double Eagle, MS60
Only 10 Examples Known in Mint State
A Profound Low-Mintage Rarity

1881 $20 MS60 NGC. The 1881 is the first of the ultra-low-mintage Philadelphia Mint double eagles struck during the 1880s. The other issues that make up the low-mintage "family" are the 1882 (571 coins struck), 1885 (751 struck), and 1886 (1,000 struck). Additionally, several proof-only dates fill out the decade's coinage at the Mother Mint: 1883, 1884, and 1887. The 1881 (2,199 struck) is similar in rarity to the 1886, with likely fewer than 60 pieces known. It is rarer than the 1885, and slightly more available than the 1882.

The current coin resides in Mint State, which is a distinct minority of the issue's survivorship. In fact, at one point the existence of Mint State survivors in any collectible quantity was in question. David Akers, in his Analysis of Auction Records (1982), wrote:

"Most known 1881's grade EF or so and always have a prooflike or partially prooflike surface. A few AU's are known and there is one Unc-60 example in a Texas collection. I have neither seen nor heard of a choice or gem mint state example and the Texas coin may be the only known unc."

The "Texas coin" was a reference to the Dallas Bank example, which later came to auction through the Sotheby's/Stack's partnership in 2001. It has not reappeared since. However, with the advent of third party grading in the late 1980s, other Mint State 1881 double eagles began to emerge and show up on population reports. Today, 10 different coins are known in Mint State. We list the Dallas Bank piece as the finest below, although that ranking is subject to change if the coin ever appears again in a certified grade. Other than the Dallas Bank coin, the finest certified pieces are a pair of MS62 PCGS coins, which emerged on the auction scene a little under a decade ago. Several of the lower-end Uncirculated pieces have not appeared at auction, including the present example in MS60 NGC -- this coin is appearing for its first documented offering here.

A sharp strike and radiant cartwheel luster adorn this straw-gold piece. No handling wear is seen, and the grade-limiting abrasions are largely minor. Only a horizontal abrasion in the field below Liberty's chin is mentionable individually, and it will serve well as a pedigree marker. We have seen only a few other Mint State examples of this issue in recent years, the last of which was in 2020. The last coin we handled in MS60 specifically was the PCGS coin in our Denver ANA Signature (8/2017), which realized $99,875. The current piece is at a minimum the equal of that coin technically. Census: 3 in 60, 2 finer (11/24).

Roster of Mint State 1881 Double Eagles
1. Brilliant Uncirculated Uncertified. Dallas Bank (H. Jeff Browning) Collection (Sotheby's/Stack's, 10/2001), lot 86, $21,850.
2. MS62 PCGS. May Rarities Auction (Stack's Bowers, 5/2016), lot 128, not sold.
3. MS62 PCGS. Blue Moon and Wolfe Collections (Stack's Bowers, 6/2017), lot 11470, $88,125; Dallas Signature (Heritage, 8/2020), lot 4047, $138,000; David Lawrence, sold privately in 3/2021; D.L. Hansen Collection.
4. MS61 PCGS. Wisconsin Collection (Heritage, 7/1997), lot 7843, $29,325; Haig A. Koshkarian Collection (American Numismatic Rarities, 3/2004), lot 1667, $39,100; Long Beach Signature (Heritage, 6/2004), lot 6363, $57,500; Central States Signature (Heritage, 4/2014), lot 5837, $152,750.
5. MS61 PCGS. Pre-Long Beach (Goldberg Auctions, 6/2005), lot 1086, $69,000; John Kutasi Collection (Heritage, 1/2007), lot 3203, $138,000; Baltimore Collection (Heritage, 10/2008), lot 3091, $138,000; Central States Signature (Heritage, 4/2009), lot 2762, $120,750; FUN Signature (Heritage, 1/2015), lot 4389, $141,000.
6. MS61 NGC. Duquesne Collection (Heritage, 8/2015), lot 4490, $141,000.
7. MS60 NGC. Prior provenance unknown. The present coin.
8. MS60 PCGS. Denver ANA (Heritage, 8/2017), lot 4206, $99,875.
9. MS60 PCGS. D.L. Hansen Collection (PCGS Set Registry).
10. MS60 PCGS. Prior provenance unknown.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26BC, PCGS# 8994, Greysheet# 9819)

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.

View Certification Details from NGC