1876 $20 Liberty Double Eagle, Judd-1490, Pollock-1643, Unique, PR64+ Cameo PCGS. CAC....

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1876 Liberty Double Eagle Pattern, PR64+ Cameo
Unique Transitional Gold Pattern, Judd-1490
Ex: Woodin-Farouk-Wilkison-Simpson
CAC-Approved Quality

1876 $20 Liberty Double Eagle, Judd-1490, Pollock-1643, Unique, PR64+ Cameo PCGS. CAC. Ex: Wilkison-Simpson. With just a single specimen known, the 1876 Liberty double eagle pattern, Judd-1490, is an ultimate "stopper" for collectors of the U.S. pattern series. Many of the greatest pattern collections of all time, like those of Major Lenox Lohr, Harry W. Bass, Jr., and Dr. J. Hewitt Judd, have lacked this sought-after rarity. The opportunity to own this legendary coin comes only once in the collecting life of most numismatists and public offerings are almost as elusive as the coin itself. Heritage Auctions is privileged to present this unique transitional gold pattern rarity in just its third auction appearance.

Design
Diameter: 34 mm, weight: 516 grains. Designer: James B. Longacre (slightly modified by William Barber). The obverse is similar to the regular double eagle design for 1877, with the point of Liberty's coronet centered between stars six and seven (the point was positioned almost touching star seven in the design of previous years). The position of the stars in relation to other features of the bust also differs considerably from their placement in 1876. The letters in LIBERTY are farther from the beads in the coronet than on the regular obverse of 1876 and the date is lower in the field. Like the regular-issue dies of 1877, the reverse shows the TWENTY DOLLARS denomination completely spelled out. The Heraldic Eagle design is slightly larger than the regular-issue 1876 version, causing the TW in TWENTY and the S in DOLLARS to nearly touch the scroll. Struck in gold, with a reeded edge. This design was also struck in copper, with a reeded edge (Judd-1491). The reverse was used with a slightly different obverse to strike Judd-1492, a unique copper pattern with a plain edge.

The Transitional Gold Patterns of 1876
The design of the double eagle was modified in 1876 as the denomination transitioned from the Type Two to the Type Three design. As might be expected, the Mint experimented with a number of pattern designs to accomplish the transition. A June 24, 1876-dated letter from Mint Director Henry Linderman to Philadelphia Mint Superintendent James Pollock was especially important in the development of the Type Three reverse:

"Sir: I have your letter of 23rd inst. Enclosing two specimen Double Eagles struck in copper, one with the old die & one with a die from a new hub.
"I regard the obverse of the latter as a decided improvement over the one now in use but on the reverse of both specimens the words 'E PLURIBUS UNUM' are not well brought up. The Engraver should make a careful effort to have this matter appear more distinctly.
"I would like him to consider whether the inscriptions on the reverse could not be so arranged as to allow the word 'dollars' to be put on instead of the letter D."

Linderman's instructions were duly implemented on a series of patterns that led to the Type Three design. On Judd-1488 through Judd-1492, the location of the obverse stars is considerably different from their placement on the regular-issues of 1876 and on Judd-1490 through Judd-1492 the denomination is completely spelled out as TWENTY DOLLARS, rather than TWENTY D. These modifications were adopted for regular-issue coinage in 1877.

Judd-1490 on the Numismatic Scene
Numismatists believe Judd-1490 is a true transitional pattern, made to further the design change to the Type Three format in honor of the nation's centennial. It was not a delicacy clandestinely produced for favored collectors, but its existence was completely unknown to the numismatic community until the early 20th century. There were no 19th century auction appearances, no mentions in the numismatic press, and the issue was not listed in R.C. Davis's groundbreaking treatise on United States patterns. The first mention of the Judd-1490 pattern and its closely related Judd-1488 counterpart was an article in the June 1909 edition of The Numismatist:

                                    "Two Unique Double Eagle Varieties
                                              Previously Unpublished
                                   Described by Captain John W. Haseltine

"For some time The Numismatist has known of two unpublished die varieties of the Double Eagle dated 1876 in the possession of Captain John W. Haseltine. The claim that they were unique has led to some discussion and investigation on the part of those who were informed of Captain Haseltine's possession, just as all such claims for varieties of modern coins should receive. Duplicates were claimed to exist, but on comparison they were found to be from different dies. Mr. Edgar H. Adams who is ever alert to disprove or substantiate any new claims for the Territorial or United States series, was among the persistent investigators. Mr. Adams now writes The Numismatist: 'Please make the statement from me in conjunction with your references to the two 1876 Double Eagle patterns owned by Captain Haseltine. I thought other specimens in gold had been discovered, however, when the pieces were brought together for comparison it quickly developed that the supposed duplicates were from the regular dies of the year with easily distinguishing differences from the Haseltine specimens. Both the later, so far as I am able to learn, can safely be regarded as unique.'
"Our illustrations are photographic reproductions direct from the specimens which are described in the following letter from Captain Haseltine:

'My Dear Mr. Zerbe,

You have in very complimentary terms referred to me as a Numismatic Refrigerator. I have therefor withdrawn from Cold Storage two unique Double Eagles in gold, which I now present to the Numismatic fraternity for their consideration.

'In 1876 the mint authorities desired to improve the design of the Double Eagle. In the old design the point of the diadem, in the head of Liberty, seemed misplaced, not being in the center. In the two unique pieces the point of the diadem is placed directly between the two stars, all the stars are better arranged and the heads of Liberty are larger and placed more directly in the center. In the second type the numeral 1 is nearer the bust and the 6 is farther from it, than in type 1.

'The reverse of type 1 is the same as the regular issue of 1876 and preceding years since 1866, having of course Twenty D below.

'Reverse of type 2 is entirely different from type 1, the T and W in TWENTY nearly touch the scroll or label inscribed E Pluribus, and there are other slight variations which can be noticed in the cuts. The whole heraldic design is larger and TWENTY DOLLARS below, in fact an entirely different die.

'In presenting these two important discoveries, to the Numismatists of the world, I claim that both are unique and for the benefit of our science, I would respectfully desire and request anyone who thinks he has a duplicate to correspond with me and publish it with proof in The Numismatist.

'At your request I now present these two Double Eagles in gold, in beautiful condition for the information of all interested. I delayed sending you this until the coins were sold, as I did not wish you to think I wanted some free advertising.

'Yours truly,

'John W, Haseltine'

"1876 being the Centennial year there is a reason why experimental dies should have been made to bring our coinage to better perfection, and surprising though it is to have unpublished varieties brought to the attention of the numismatist at this late day, yet the denomination and the year offer something in explanation. Not only our coin of highest value, but the type: what modern coin is more beautiful than the lately discarded type of the Twenty Dollar gold piece in brilliant proof condition? An effort to make our largest and most beautiful coin a little nearer perfection in the Centennial year is a very natural conclusion."

     Traditionally, it was thought that Haseltine obtained the two double eagle patterns from his father-in-law, William Idler. Idler was a Philadelphia coin dealer with insider connections at the Mint that enabled him to acquire many rare issues that were not available to the general public. However, recent research indicates these coins may have come from a different source.
     Colonel Archibald Loudon Snowden had a long and distinguished career at the Philadelphia Mint. He started as a clerk before the Civil War and later served as both Chief Coiner and Superintendent of the Philadelphia Mint. During his tenure as Chief Coiner and Superintendent, he acquired an enormous collection of rare patterns by simply purchasing them from the Mint for bullion value, a practice that was legal at the time, but strictly forbidden later. Snowden famously sold the unique fifty dollar half union gold patterns to prominent collector William H. Woodin, with Haseltine acting as intermediary, for $10,000 circa 1909. The transaction became public knowledge when it was reported in The Numismatist, causing a backlash from many collectors and elected officials, who believed the coins should have been reserved for the Mint Cabinet. After much legal negotiation, Woodin agreed to return the half unions to the Mint and Snowden, who could not afford to return the $10,000 purchase price, reimbursed him by giving him his remarkable collection of patterns. Most researchers now believe that the two unique 1876 double eagle patterns were included in Snowden's collection and passed to Woodin as part of this transaction.
     Woodin eventually sold the unique Judd-1490 to Baltimore collector Waldo Newcomer, and it later passed to "Colonel" E.H.R. Green and King Farouk of Egypt, two of the most famous and eccentric collectors of the 20th century. From there, it went to Dr. John W. Wilkison, who formed the most extensive collection of gold patterns ever accomplished up to that time. Later owners included proof gold specialist Ed Trompeter and pattern aficionado Charles Anderson. The coin finally passed to Bob R. Simpson, who acquired Anderson's collection intact in 2008 for a reported $36 million. This remarkable coin has only appeared in two auctions up to the present time, Sotheby's sale of King Farouk's collection in 1954 and Superior's section of Auction '86, more than 40 years ago. We expect its appearance here will be enthusiastically followed by pattern specialists and Registry Set enthusiasts alike. A new prices realized record is almost a forgone conclusion.

Physical Description
This spectacular Plus-graded Choice proof exhibits razor-sharp definition on all design elements, with full star centers and fine detail on Liberty's curls and the eagle's feathers. The deeply mirrored fields contrast boldly with the richly frosted devices to create an intense cameo effect when the coin is tilted in the light. The impeccably preserved greenish-gold surfaces are free of mentionable distractions, with only a few minor hairlines showing in the fields. Overall eye appeal is terrific. It has been 40 years since this coin was last publicly offered and it may be decades before it becomes available again. Series specialists and Registry Set enthusiasts will find no substitute for this fabulous unique gold pattern once it crosses the auction block. The discerning collector should bid accordingly. This coin is pictured on PCGS CoinFacts and is plated in Dr. J. Hewitt Judd's United States Pattern Coins (10th edition) and David Akers' United States Gold Patterns. PCGS Population: 1 in 64 (1 in 64+) Cameo, 0 finer (7/26). CAC: 1 in 64, 0 finer (7/26).
Ex: Either William Idler or (more likely) Philadelphia Mint Superintendent Archibald Loudon Snowden; Captain John W. Haseltine; William H. Woodin, purchased for $1,000 in 1909; Waldo Newcomer; "Colonel" E.H.R. Green; Green Estate; offered to F.C.C Boyd for $1,500 on 1/4/1944, per an invoice from B.G. Johnson, but not purchased; King Farouk; Palace Collections of Egypt (Sotheby's, 2/1954), lot 292; New Netherlands Coin Company, at $838; Dr. John W. Wilkison, via Charles Wormser, for $2,000; Mike Brownlee and Julian Leidman: Paramount International Coin Corporation; A-Mark; PNG dealer Larry Whitlow, for a six-figure price; Auction '86 (Superior, 7/1986), lot 1451, $99,000; Ed Trompeter; Heritage Auctions and Silvano DiGenova (purchased Trompeter's half eagles, eagles, and double eagles from his heirs in 1998); Southern Collection (Charles Anderson); Bob R. Simpson, who purchased the Southern Collection intact in 2008, for $36 million (per a Coin World article 1/13/2017).
Important Selections from The Bob R. Simpson Collection, Part XIII.

Coin Index Numbers: (Variety PCGS# 537334, Base PCGS# 61812, GSID# 243873)

View all of [Important Selections from The Bob R. Simpson Collection, Part XIII ]

View Certification Details from PCGS