1851 $20 MS64 PCGS....

Click the image to load the highest resolution version.

Sold on Dec 12, 2024 for:

Sign-in or Join (free & quick)

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

1851 Double Eagle, MS64
Condition Census Rarity

1851 $20 MS64 PCGS. On March 3, 1849, during the second session of the 30th Congress, legislation providing for the coinage of gold dollars and double eagles was passed. It has largely been accepted that the new denominations were created in part as an avenue by which to prepare newly mined California gold for circulation, whether it be domestic or foreign trade. Months later, in January 1850, Mint Director R.M. Patterson addressed the influx of gold from California to the mother mint and her branches. According to deposit records, Patterson noted that between the first deposits of California gold in late 1848, to the first month of 1850, the various federal mints received more than $6.9 million worth of the yellow metal from West Coast miners, banks, and assayers. Patterson further wrote:

"Large as is the quantity of gold brought to the mints during the last year, it has been exceeded by that of 1847, when deposits at the principal mint amounted to $13,670,896, and those at the New Orleans branch to $6,253,288. It must be observed, however, that the gold of the former year was in great degree composed of foreign coins deposited for recoinage, while the greater part of that deposited during the past year was of native gold, and presented an actual increase of the quantity of this precious metal to be introduced into circulation."

Gold deposits continued to climb at the Philadelphia and New Orleans mints in 1850 and 1851. In the latter year, Philadelphia coined more than 2 million double eagles with California gold, while New Orleans produced 315,000 -- in total more than $48 million in face value.

Despite the large quantities of 1851 double eagles that flowed from the presses at Philadelphia, most of those coins went into circulation. No numismatic interest in high denomination gold yet existed in the United States, and it would be several decades before surviving Mint State pieces were specifically preserved for numismatic generations. The finest 1851 twenties known today are nine coins reported in MS64 and one in MS65+ (11/24).

This Condition Census example displays luminous, satiny straw-gold mint luster with only trivial surface marks to prevent full Gem classification. A small nick on the bridge of Liberty's nose serves as a pedigree marker. Central definition is strong, while the left-hand obverse border stars exhibit slight softness. Population: 6 in 64 (1 in 64+), 1 finer (11/24).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 268H, PCGS# 8904, GSID# 9786)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 2,087,155

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