1854-S $20 AU53 NGC....

Description

1854-S Double Eagle, AU53
Debut of San Francisco Mint Operations

1854-S $20 AU53 NGC. There was no shortage of gold to coin in San Francisco in 1854. When the new branch mint opened, exports of newly mined ore to the mints at New Orleans and Philadelphia declined overnight and began flowing to the San Francisco facility. Additionally, large amounts of assayed gold bars and coins produced in the preceding years at local San Francisco private assayers went to the mint for reproduction as federal gold. The only hindrance to large-scale coinage at the new mint was a shortage of parting acids in the first several months of operation, which were needed to refine gold deposited for coinage. This parting acid shortage influenced a stunted mintage of 141,468 double eagles at San Francisco in 1854, leading to the issue's scarcity in high grade today.

The present AU example displays bold detail with light wear, allowing traces of luster to peer through the rich orange-gold patina in the protected portions of the fields and devices. Scattered surface chatter accompanies that grade, as is characteristic of Gold Rush-era coinage from San Francisco.(Registry values: N1793)

Coin Index Numbers: (NGC ID# 268U, PCGS# 8913, GSID# 9849)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 141,468

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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