1859 $20 AU55 PCGS. CAC....

Description

1859 Double Eagle, AU55
Challenging Philadelphia Issue

1859 $20 AU55 PCGS. CAC. Double eagle coinage at Philadelphia was marginal in 1859, with only 43,597 pieces struck. This in contrast to more than 211,000 coins produced at that facility in 1858, and more than 577,000 in 1860. The low mintage of the 1859 severely hindered the date's survival rate, particularly in high grades. In their gold coin Encyclopedia, Garrett and Guth write: "... the issue was largely ignored by early collectors who preferred Proof examples of Philadelphia coinage. As a result, the 1859 double eagle is very scarce in any grade."

This Choice AU representative is above-average for the issue, as the typical example grades only VF or XF. This piece is sharply struck and shows minimal wear, with bright yellow-gold surfaces. Some luster remains in the reverse fields. As is expected for the grade, each side shows a scattering of light abrasions. Mint State examples are rare and none grade finer than MS62. Population: 16 in 55, 20 finer (7/15).(Registry values: N2998)

Coin Index Numbers: (NGC ID# 269A, PCGS# 8926, Greysheet# 9795)

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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