1853-O $20 AU55 PCGS Secure....

Description

1853-O Double Eagle, AU55
Substantial Mintage Reduction

1853-O $20 AU55 PCGS Secure. Following three years of significant double eagle production in New Orleans from 1850 to 1852, the mintage dropped substantially in 1853, and even further in the next three years. The Louisiana facility averaged 215,000 double eagles from 1850 to 1852, and then struck just 71,000 the next year, and averaged a mere 4,500 per year from 1854 thorough 1856. So what changed? The double eagle denomination was a direct result of the massive California gold discoveries, and much of that gold was shipped to New Orleans, with additional shipments to Philadelphia, Charlotte, and Dahlonega. The U.S. Assay Office and various private coiners operated in California from 1849 through 1855, with a substantially increased production in 1853. The New San Francisco Mint opened the following year, eliminating the costly shipments to far off facilities.

The original gold deposit books at the New Orleans Mint for the 1850s exist at the Fort Worth, Texas branch of the National Archives. These books show conclusively that 90% of gold deposited at the New Orleans Mint was California gold. The present Choice AU example is an amazing double eagle with rich yellow luster and nearly full mint brilliance. This piece is sharply defined and highly attractive. Population: 30 in 55, 15 finer (3/17).(Registry values: N2998)

Coin Index Numbers: (NGC ID# 268N, PCGS# 8910, Greysheet# 9847)

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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