Description

    Unimprovable 1862-S Twenty Dollar, MS63
    With Repunched 86 in Date, Breen-7214

    1862-S $20 MS63 NGC. Breen-7214. Repunched 86. The present MS63 NGC 1862-S twenty from the Galt's Gulch Collection, like most of its brethren in this complete run of Type One S-mint double eagles, is among the few finest obtainable of the issue. NGC shows only three submissions at this grade level, and there is one in equal grade at PCGS (10/11).
    In Philadelphia during 1862, the second year of the Civil War, the mintage figure for double eagles plummeted to a relatively meager 92,133 business strikes, as the outcome of the conflict was increasingly in doubt. Today the 1862 Philadelphia twenty is among the rarest P-mint Type One issues, one that is rare in all grades, according to Garrett and Guth. The only shipwreck coins that were discovered were nine pieces aboard the S.S. Republic, including a few in Mint State.
    In San Francisco, however, the 1862 narrative was considerably different. Gold and silver continued to circulate in the West until World War I, unlike in the East, where it was seldom seen in quantity in circulation after the Civil War; even when "parity" between gold, silver, and paper currency was achieved in late 1878, paper currency was favored for most domestic transactions. San Francisco's double eagle mintage actually increased from the previous year, 787,250 pieces (including the Paquet Reverse coins) for 1861 versus 854,173 for 1862.
    We are unable to say if the present piece is a treasure coin or not, but we are sure that it will be a treasured coin in any collection in which it resides. Examination of our Permanent Auction Archives confirms our suspicions: Only a single time before have we offered an example of the 1862-S in so fine a grade. An MS63 NGC example with CAC green label in our Sacramento Signature (Heritage, 3/2011), lot 4925, realized $57,500. That piece, however, while an attractive coin in its own right, lacked the Repunched 86 feature of the present piece, an attribute that significantly increases the already-broad appeal. The 8 shows the top and bottom loops of a previously punched digit slightly lower in both loops of the final digit. What is quite curious, however, is that the remains of a much lower (in comparison to the 8) previous 6 appear beneath the subsequent 6. If these dies were made using four-digit date logotypes as we have been led to believe by Bowers in his Guide Book of double eagles, how is it that the repunched 6 in the date can be positioned so much lower than the 8? We cannot answer, but the piece is a fascinating one for that reason.
    Besides the interesting variety, listed in Breen's Complete Encyclopedia as "rare," this piece offers much aesthetic appeal to boot. The obverse is well-struck and displays frosty luster over surfaces that are relatively unmarked for the grade. The reverse is of similar quality, showing just a few minor, scattered marks of no importance. A lovely example of this mid-Civil War date, and another essentially unimprovable representative of the issue from this stunning collection.
    From The Galt's Gulch Collection.(Registry values: N7079) (NGC ID# 269N, PCGS# 8938)

    Weight: 33.44 grams

    Metal: 90% Gold, 10% Copper


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    View all of [The Galt's Gulch Collection ]

    Fees, Shipping, and Handling Description: Coins & Currency (view shipping information)

    Sales Tax information  | NGC Coin Grading Guarantee  |  Terms and Conditions

    Bidding Guidelines and Bid Increments

    Glossary of Terms

    Auction Info

    Auction Dates
    January, 2012
    3rd-8th Tuesday-Sunday
    Bids + Registered Phone Bidders: 7
    Lot Tracking Activity: N/A
    Page Views: 1,309

    Buyer's Premium per Lot:
    15% of the successful bid (minimum $14) per lot.

    Sold for: Sign-in or Join (free & quick)

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Only 30 days left to consign to the 2018 April 20 - 24 CCE World Coins Signature Auction - Chicago!

    Learn about consigning with us

    If/when you are considering selling your treasured collection, it would be in your best interest to consider Heritage.
    The White Rose Collection
    View More Testimonials

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search

    Recent auctions

    2018 January 3 - 8 FUN US Coins Signature Auction - Tampa
    2018 January 3 - 8 FUN US Coins Signature Auction - Tampa
    REALIZED $40,950,414
    2018 January 7 - 8 NYINC World Coins Signature Auction - New York
    2018 January 7 - 8 NYINC World Coins Signature Auction - New York
    REALIZED SO FAR $14,686,543
    2018 January 4 - 8 FUN World Currency Signature Auction - Tampa
    2018 January 4 - 8 FUN World Currency Signature Auction - Tampa
    REALIZED $1,648,055