1850 $20 MS63 NGC....

Description

1850 Double Eagle, MS63
High-Grade Inaugural Issue
Few Certified Any Finer

1850 $20 MS63 NGC. By 1849, the prospect of huge quantities of gold from California inspired legislation to introduce the gold dollar and the much-anticipated double eagle. While the gold dollar made its debut in mid-1849, Chief Engraver James B. Longacre's double eagle design required adjustments according to Chief Coiner Franklin Peale, pushing production into 1850. Despite mixed reactions to the double eagle design, the twenty dollar denomination was universally popular and well-received by commerce as well as the general public. Meanwhile, all silver denominations were hoarded or melted en masse as the ratio of silver value to gold fell out of balance. A silver dollar was worth approximately $1.03 in bullion value in late 1849. More than 1.17 million 1850 double eagles were struck in 1850 while silver coinage simply did not circulate. Although the double eagle mintage was large, few coins were put aside by collectors and most 1850 twenties exist in XF to AU conditions. Mint state examples are scarce in low grades and quickly become rare above the MS62 level.

This Select Uncirculated displays semireflective fields and lustrous, lemon-gold surfaces with minimal marks or abrasions for the assigned grade. A few thin marks reside above the bust truncation where a tiny two-pronged reeding mark is visible under magnification. Liberty's cheek and neck are virtually mark-free while the reverse is semiprooflike and equally free of any significant marks. The reverse is rotated about 30° counterclockwise in relation to the obverse. Liberty's face curls and upper hair strands are well-defined as is the hair bun. Every obverse star is pinpoint sharp. A solitary grayish alloy dot exists above R in AMERICA. Pleasing orange rim accents frame each side for excellent eye appeal. NGC Census: 11 in 63, 3 finer (7/25).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 268F, PCGS# 8902, Greysheet# 9785)

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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