1856-S $20 MS64 PCGS....

Description

Lustrous Near-Gem 1856-S Double Eagle

1856-S $20 MS64 PCGS. The 1856-S twenty is the third most available Type One double eagle, and there are many examples in Mint State grades. The large mintage of 1.2 million coins is not enough to account for the high degree of availability by itself. Twenty dollar gold pieces were not widely collected in the 19th century, and collecting by mintmark did not become popular until after 1893, with the publication of Augustus Heaton's famous treatise on the subject. The few collectors who did collect double eagles usually just purchased a proof example from the Philadelphia Mint every year.
The key to the high rate of survival for the issue is its inclusion in several shipwreck hoards. There were 1,085 examples of the 1856-S recovered from the S.S. Central America, many in Uncirculated condition. Another find off the coast of Florida in the 1970s yielded a substantial number of pieces. While not all 1856-S double eagles are pedigreed to shipwrecks, the romantic association of the issue to those dramatic events has greatly enhanced its reputation. The easy availability of Mint State examples makes the 1856-S an ideal type coin.
The present example is certainly no exception, with two examples certified in MS64 at PCGS and only a single coin finer. Wonderful cartwheel luster emanates from the orange-gold surfaces on both sides, and only the most minute abrasions--including one near Liberty's eye, but otherwise away from the focal points--appear to limit an even finer grade. The reverse is high-end for the grade.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 2692, PCGS# 8919, GSID# 9864)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 1,189,750

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