1861-S $20 MS62 PCGS. CAC....

Description

Sensational 1861-S Double Eagle
Longacre Reverse, MS62

1861-S $20 MS62 PCGS. CAC. The first 19,250 double eagles coined in San Francisco early in 1861 had the special Paquet Reverse design. Once word was received to discontinue using that special reverse die, another 768,000 coins were minted with the normal Longacre reverse design. At the time they were struck, there were few if any collectors in San Francisco to preserve those coins, and virtually the entire mintage quietly slipped into the channels of commerce. The small number of Mint State coins known today, including the present example, survived purely as a matter of chance. For a denomination of such high value as a twenty dollar gold coin, the chance of survival is diminished further because of the significant face value of the coin. It was a lot of money at the time, and few could afford to have any similar pieces preserved for the future. In the past 16 years we have handled 261 examples of this issue in our auctions, but only seven of them graded Mint State--six in MS61 and a single MS62. The present example is only the second MS62 piece in our auctions, representing the finest we have ever seen.
In all Mint State grades, PCGS has certified 13 pieces and NGC has certified 14 examples (9/09). A single MS63 PCGS specimen is the finest of those coins. The present specimen is brilliant and fresh, with outstanding orange-gold luster and frosty surfaces. A few light abrasions on each side are strictly consistent with the grade. Seldom does such an important opportunity arise--but when it does, specialists will act accordingly.
From The Volunteer Collection.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 269K, PCGS# 8935, GSID# 9900)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 768,000

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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