1854-O $20 AU55 NGC. Variety 1....

Description

1854-O Liberty Double Eagle, AU55
Classic O-Mint Rarity
Condition Census Candidate

1854-O $20 AU55 NGC. Variety 1. Ex: Duquesne. The 1854-O Liberty double eagle claims a meager mintage of 3,250 pieces, the second-lowest production total of the series. The reason for the small mintage is easily explained by the opening of the San Francisco Mint in 1854, which drastically reduced the flow of gold deposits at the New Orleans facility. Before 1854, large amounts of gold dust and ore were deposited every year at the Southern mint, but the San Francisco facility was much more convenient to the great California gold fields, so deposits dwindled to a trickle once that location commenced coinage operations. As a result, the 1854-O is one of the rarest coins of any denomination ever struck at the New Orleans Mint.

For many years experts felt the 1856-O double eagle was the rarest O-mint twenty dollar gold piece by a slight margin, but recent research indicates the 1854-O may be just as rare. We are offering specimens of both dates in this sale and we compiled rosters of both issues in their respective lot descriptions. The roster of all 1856-O double eagles known to us includes 23 recognizably different coins, with a number of additional appearances that may or may not represent the coins listed in the main roster. The 1854-O roster (below) lists only 22 coins that we know to be different examples, but the list of additional specimens is somewhat longer and it is possible that a few more coins may eventually prove to be separate specimens. In any case, the data indicate that the 1854-O and 1856-O are virtually tied in terms of absolute rarity.

The present coin is a mysterious example that has evidently been off the market for some time. We have not been able to identify any previous auction appearance for this specimen, so it may be from one of the additional appearances we were unable to definitely link to a recent pedigree chain in the roster below. Less likely, it may be a specimen that has never been offered at auction. In either case, it will be a fresh example to the numismatic community, and a high-quality piece, at that. The design elements were strongly impressed and show just a touch of wear on the high points. Many stars show evidence of recutting and the diagnostic raised die lines are visible near TY in LIBERTY. The pleasing greenish-gold surfaces retain significant amounts of original mint luster and abrasions are both smaller and fewer in number than usually seen on this issue. This attractive Choice AU specimen is tied with several other coins for fifth place in the Condition Census for the date. The 1854-O is listed among the 100 Greatest U.S. Coins. Census: 3 in 55, 3 finer (4/15).


Roster of 1854-O Liberty Double Eagles
(The assistance of P. Scott Rubin is acknowledged and appreciated.)
1. AU58 NGC. Gilhousen Collection (Superior, 2/1973), lot 854; Harry W. Bass, Jr.; Bass Collection (Bowers and Merena, 5/2000), lot 780; San Francisco Signature (Heritage Auctions, 7/2005), lot 10397.
2. AU58 NGC. Auction '79 (Stack's, 7/1979), lot 934; ANA Building Fund Sale (Steve Ivy, 12/1981), lot 1560; Superior (2/1992), lot 2938; Superior (1/1993), lot 1484; FUN Signature (Heritage Auctions, 1/2002), lot 4011; FUN Signature (Heritage Auctions, 1/2004), lot 3087.
3. AU58 NGC. Recovered from the wreck of the S.S. Republic; Monaco Rare Coins (privately, 2004); private collection.
4. AU58 NGC. Cicero Collection (New Netherlands, 12/1960), lot 8; H. Jeff Browning; Dallas Bank Collection (Sotheby's/Stack's, 10/2001), lot 10.
5. AU55 NGC. We have not been able to identify a previous auction appearance of this specimen; it may be one of the Additional Appearances cited below or another piece that has not been previously traced. The present coin.
6. AU55 PCGS. Robert Marks Collection (American Auction Association, 11/1972), lot 1056; James and Margaret Carter Collection (Stack's, 3/1986), lot 528; Auction '88 (David Akers, 7/1988), lot 974; Cincinnati Collection (Heritage, 1/2005), lot 8829; Pittsburgh Signature (Heritage Auctions, 10/2011), lot 5099; Central States Signature Sale (Heritage, 4/2014), lot 5793, realized $362,500.
7. AU55 PCGS. Lester Merkin (10/1966), lot 372; Stack's (3/1990), lot 1362; Long Beach Signature (Heritage Auctions, 2/2001), lot 7079; Rarities Sale (Bowers and Merena, 8/2007), lot 1906; Dallas Signature (Heritage Auctions, 10/2008), lot 3012; FUN Signature (Heritage Auctions, 1/2011), lot 5246.
8. AU55 PCGS. Richmond Collection (David Lawrence, 7/2004), lot 2246; Rarities Sale (Bowers, 8/2010), lot 1818.
9. AU55 NGC. Bowers and Ruddy (6/1975), lot 1129; Long Beach Signature (Heritage, 6/2014), lot 4897, realized $381,875.
10. AU50 PCGS. Alex Shuford Collection (Abe Kosoff, 5/1968), lot 2412; John Jay Pittman; Pittman Collection, Part I (David Akers, 10/1997), lot 1128; Superior (6/1998), lot 2361; ANA Signature (Heritage, 8/2014), lot 5686, realized $329,000.
11. AU50 PCGS. William Van Roden Collection (Stack's, 5/1968), lot 910; Eugene Detmer Collection (Stack's, 2/1983), lot 1078; Auction '89 (RARCOA, 7/1989), lot 450; Denver Signature (Heritage, 8/2006), lot 5592; Baltimore Auction (Bowers and Merena, 11/2007), lot 4668; Central States Signature (Heritage, 4/2015), lot 5424.
12. AU50 PCGS. Amon Carter Collection (1/1984), lot 841; ANA Signature (Heritage, 8/1997), lot 7821; Mid-Winter ANA Signature (Heritage, 3/1998), lot 6507; Superior (9/1998), lot 2227; California Sale (Goldberg Coins, 10/2000), lot 1142; Long Beach Signature (Heritage, 1/2004), lot 7239.
13. AU50 PCGS. Stack's (6/1979), lot 586; DEA and U.S. Marshals Service Sale (Heritage, 12/1988), lot 1370; FUN Signature (Heritage, 1/2003), lot 4873.
14. AU50. Louis Eliasberg, Sr.; United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 883.
15. AU50. R.L. Miles, Jr. (Stack's, 10/1968), lot 833; Stack's (1/1986), lot 408.
16. AU50. ANA Convention Auction (Paramount, 8/1974), lot 967; ANA Convention Auction (New England Rare Coin Auctions, 7/1979), lot 427; King of Siam Sale (Bowers and Merena, 10/1987), lot 2011; Charles Kramer Collection (Superior/Stack's, 11/1988), lot 730; Auction '90 (David Akers, 8/1990), lot 1947; James E. Haldan Collection (Sotheby's, 6/1996), lot 136; Americana Sale (Stack's, 1/2008), lot 9111.
17. AU50. Josiah K. Lilly Collection; Smithsonian Institution.
18. XF45 NGC. Heritage (2/1994), lot 5521; Heritage (1/1999), lot 8414.
19. XF40 PCGS. Peter J. Schemenauer Estate (Bowers and Merena, 7/2005), lot 2721.
20. XF Details Cleaned NGC. Bowers and Merena (9/1988), lot 549; Heritage Auctions (1/2014), lot 5515.
21. VF30 PCGS. "Two sisters with roots in Tennessee" (Stack's, 5/2009), lot 158.
22. XF Details Cleaned Net VF30 ANACS. Bell Collection (RARCOA, 4/1963), lot 843; Stack's (4/1971), lot 884; Stack's (3/1986), lot 529; Stack's (11/1989), lot 1494; Bowers and Merena (1/1999), lot 1467; Heritage Auctions (12/2008), lot 2244.

Additional Auction Appearances
(Catalogs not available for comparison or lacking sufficient detail for plate matching.)
A. Rarities Sale (Bowers and Merena, 1/2010), lot 829.
B. ANA Signature (Heritage, 8/1998), lot 5733.
C. Bullet Sale (Heritage, 4/1990), lot 596.
D. Ronald Kessler Collection (Sotheby's, 3/1990), lot 374.
E. Central States Auction (RARCOA, 4/1976), lot 420.
F. Public Auction Sale (Abner Kreisberg, 6/1969), lot 1127.
G. Arrowhead Collection (Sotheby's, 5/1987), lot 345.
H. Pacific Collection (Hughes, 2/1978), lot 1378.
I. Public Auction Sale (Abner Kreisberg, 1/1970), lot 1935.
J. Fontani Collection (Kreisberg and Schulman, 3/1965), lot 182.
K. Baldenhofer Collection (Stack's, 11/1955), lot 1511.
L. King Farouk (Sotheby's, 2/1954), lot 180; Abe Kosoff.
M. Stephen Allen Collection (Stack's, 12/1950), lot 110.
N. Menjou Collection (Numismatic Gallery, 6/1950), lot 1955.
O. Dr. Charles W. Green (B. Max Mehl, 4/1949), lot 806.
P. Memorable Collection (Numismatic Gallery, 3/1948), lot 759.
Q. Public Auction Sale (Stack's, 12/1947), lot 579.
R. Public Auction Sale (Hollinbeck Coin Co., 11/1947), lot 10.
S. Lee Collection (Stack's, 10/1947), lot 1775.
T. William Cutler Atwater (B. Max Mehl, 6/1946), lot 1336.
U. F.C.C. Boyd (World's Greatest Collection, Numismatic Gallery, 1/1946), lot 938.
V. J.F. Bell Collection (Stack's, 12/1944), lot 897.
W. 444th Sale (J.C. Morgenthau, 6/1940), lot 68.
X. 399th Sale (J.C. Morgenthau, 5/1939), lot 452.
Y. Wheeler-Norton Collections (Thomas Elder, 9/1938), lot 1529.
Z. 356th Sale (J.C. Morgenthau, 1935), lot 237.
AA. McCaw-Bauer-Leech Collections (Thomas Elder, 1/1934), lot 1204.
BB. Nickerson-Butler-Edwards Collections (Thomas Elder, 12/1933), lot 1124.
From The Duquesne Collection.(Registry values: N10218)

Coin Index Numbers: (NGC ID# 268T, PCGS# 8912, Greysheet# 9848)

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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