1858-O $20 MS60 NGC. Variety 2. ...

Description

1858-O Twenty Dollar Liberty, MS60
Rarely Seen in Mint State
Condition Census Example

1858-O $20 MS60 NGC. Variety 2. The 1858-O Liberty double eagle claims a mintage of 35,250 pieces, a tiny production total in absolute terms, but not unduly small in the context of the series. Gold deposits steadily dwindled at the famous Southern facility after the San Francisco Mint opened in 1854, accounting for the drop in production during this era. The surviving population numbers about 225 to 275 examples in all grades, according to Doug Winter, making this a more collectible issue than the ultra-rare 1854-O or 1856-O, but still many times more challenging than the first few O-mint twenty dollar issues. Mint State representatives are major rarities, with only six or seven coins known (population data has been inflated by resubmissions and crossovers). Three Uncirculated specimens were recovered from the wreck of the S.S. Republic.

An early auction appearance of the 1858-O Liberty double eagle was lot 18 of the B.W. Smith Collection (B. Max Mehl, 5/1915), where the cataloger noted, "1858 O touching eagle's tail. Fine. Rare." The lot realized $30, a strong price at the time. Of course, prices realized have skyrocketed over the years, with MS60 NGC-graded coins bringing as much as $51,700 in recent sales.

This impressive Mint State specimen exhibits sharply detailed design elements in most areas, unlike most examples seen. Just a touch of the usual softness is evident on the coronet and the mintmark is weak. The pleasing yellow and greenish-gold surfaces show fewer than expected surface marks for the issue. A cluster of minor marks on Liberty's neck probably limits the grade. Much original mint luster remains intact and overall eye appeal is quite strong. We expect intense competition from series specialists when this lot is called. Census: 3 in 60, 10 finer, including Prooflike grades (6/23).(Registry values: N7079)

Coin Index Numbers: (NGC ID# 2698, PCGS# 8924, Greysheet# 9893)

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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