1862-S $20 MS61 NGC. Breen-7214, Repunched Date....

Description

1862-S Double Eagle, MS61
Repunched Date, Condition Rarity

1862-S $20 MS61 NGC. Breen-7214, Repunched Date. The 86 in the date shows clear repunching within the loops. Doug Winter believes less than 10% of surviving 1862-S double eagles feature repunching, while Garrett and Guth's Gold Encyclopedia adds that about half of the 127 coins found on the S.S. Republic were of this variety. The hoarding of gold and silver in the East at the outset of the Civil War resulted in the suspension of specie payments at the close of 1861. Consequently, the Philadelphia Mint reduced double eagle production by 97% between 1861 and 1862. However, Western commerce remained relatively unchanged, and gold continued to circulate heavily. San Francisco Mint officials increased twenty dollar output to 854,171 coins in 1862. Examples survive mainly in VF and XF condition. All Mint State coins are rare.

This Type One issue generally comes softly struck. The obverse of the present MS61 coin features full radial lines on stars 6 through 13 and good detail on the hair curls. Pleasing green and rose-gold surfaces exhibit frosty luster over each side with an expected number of scattered bagmarks. Census: 18 in 61, 9 finer (1/16).(Registry values: N4719)

Coin Index Numbers: (NGC ID# 269N, PCGS# 8938, Greysheet# 9902)

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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