1885 $20 MS61 PCGS....

Description

1885 Liberty Double Eagle, MS61
Sought-After, Low-Mintage Issue
Only 751 Pieces Struck

1885 $20 MS61 PCGS. The Philadelphia Mint concentrated most of its resources on the production of vast quantities of Morgan silver dollars that were mandated by congress for most of the decade of the 1880s. This allocation of resources meant that mintages of double eagles declined drastically at the Philadelphia facility during this time frame. The San Francisco Mint continued to produce substantial mintages of twenty dollar coins to fill the gap, but Philadelphia mintages were uniformly small, and no business-strike coins were struck in 1883, 1884 and 1887. In 1885, only a token mintage of 751 business strikes was produced, accompanied by a small production of 77 proofs for collectors.

As might be expected from the minuscule production total, the 1885 is a landmark rarity in the popular Liberty double eagle series today. PCGS CoinFacts estimates fewer than 100 survivors are extant in all grades and Mint State coins are especially elusive. PCGS has certified just four examples in MS61, with five finer, while NGC has graded eight examples in MS61, with three finer (9/25). Even these small totals may include some duplication.

The few 19th century collectors who could afford to collect double eagles systematically tended to prefer proofs for their collections, so circulation-strike coins were seldom seen in public auctions. The first appearance of a circulation-strike example we have been able to locate was in lot 320 of the 11th Mail Bid Sale (B. Max Mehl, 2/1909). Offerings continue to be widely spaced today, and Q. David Bowers notes "... the offering of any 1885 double eagle makes collectors stand up and take notice." The record price realized for an MS61 example is $90,000, brought by the MS61 PCGS example in lot 3930 of the Central States Signature (Heritage, 4/2019).

The present coin is an impressive MS61 specimen that exhibits sharply detailed design elements, with fine definition on Liberty's curls and full star centers. The lustrous orange-gold surfaces show the expected number of minor contact marks for the grade. Overall eye appeal is outstanding. This coin should find a home in a fine collection or Registry Set.(Registry values: N7079)

Coin Index Numbers: (NGC ID# 26BM, PCGS# 9003, Greysheet# 9821)

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 PCGS