1851-O $20 MS61 NGC. Variety 2....

Description

1851-O Double Eagle, MS61
High-Grade Early New Orleans Type

1851-O $20 MS61 NGC. Variety 2. By 1851, two years after its authorization, the double eagle had become a staple of American commerce. The public began hoarding subsidiary silver coinage as the value of silver rose relative to gold, causing necessary small denomination coins to be driven out of circulation. This caused a curious situation where practical coinage was unseen, but cumbersome high-value gold coins were readily available. At the New Orleans Mint, for example, only 88,000 quarters and 402,000 half dollars were struck in 1851 -- both totals considerably down from past years -- while the facility more than doubled twenty dollar gold production to 315,000 coins.

The 1851-O is the most accessible O-mint double eagle. Examples are usually found in VF condition through mid-AU grades. The issue's availability is altered dramatically in Mint State, where survivors are exceedingly rare. Probably no more than 20 Uncirculated pieces are extant. This satiny, light yellow-gold twenty is remarkably well-struck for the facility with crisp detail on the lower stars, date, curls, and throughout the reverse. Stars 6 through 8 are the only devices that show notable softness. Scattered marks correspond to the grade, but visual appeal is top-notch for the issue. Census: 7 in 61 (1 in 61+), 7 finer (6/17).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 268J, PCGS# 8905, Greysheet# 9844)

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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