1862 $20 AU58 PCGS....

Description

1862 Liberty Double Eagle, AU58
Seldom Encountered in Mint State

1862 $20 AU58 PCGS. The financial stresses and uncertainties of the Civil War caused widespread hoarding of all precious-metal coinage and the government suspended specie payments by late 1861. Accordingly, mintage of double eagles declined dramatically at the Philadelphia Mint in 1862, when only 92,098 business-strike examples were produced. The coins were released into circulation and few were saved for numismatic purposes. No significant hoards have surfaced and only nine examples were recovered from the wreck of the S.S. Republic. As a result, the 1862 is one of the rarest Type One double eagles from the Philadelphia Mint in high grade.

This impressive near-Mint specimen displays just a trace of friction on the well-detailed design elements, with a touch of softness on Liberty's hair above the brow. The bright yellow-gold surfaces are lustrous and lightly abraded. The overall presentation is most attractive. Population: 9 in 58, 15 finer (2/24).(Registry values: N2998)

Coin Index Numbers: (NGC ID# 269M, PCGS# 8937, Greysheet# 9799)

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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