1881 $20 AU55 NGC....

Description

1881 Double Eagle, AU55
Rare Philadelphia Issue

1881 $20 AU55 NGC. Ex: Eagle Collection. In general, gold coins were seldom seen in 1881. Paper currency was accepted for local commerce, and there was a net inflow of gold from abroad. Bank and treasury coffers were filled with both gold and silver coins, to the tune of more than 317 million dollars.

Only 2,199 circulation strike double eagles were produced by the Philadelphia Mint in 1881, kicking off a run of low-to-negligible double eagle production from the Mint lasting until its nadir, the proof-only 1887 issue. During this time, silver dollar production reached unprecedented totals, a trend that would continue until the early 1890s. It is estimated that less than 40 pieces of the rare 1881 twenty survive in all grades. The grading service population reports support this number, combining for just 51 grading events, which undoubtedly include many regrades and crossovers.

Often years go by without having a single 1881 double eagle to offer in our sales. 2014 has been an exception, with a pair of notable appearances. Lot 5837 in our April, 2014 CSNS Signature Sale brought a record $152,750 for an MS61 PCGS example (tied for finest known), and earlier in the year an AU58 PCGS coin in our January, 2014 Orlando FUN sale brought $111,625 as lot 5550.

While this coin grades a bit below those exceptional coins, the surfaces of the coin are pleasing with much remaining mint luster. A hint of the "dirty gold" appearance seen on so many double eagles from this era and nice apricot-gold coloration suggest the coin is wholly original. Probably struck from a later state of the dies, there is little evidence of prooflike finish in the fields -- a trait seen on most twenties of this issue to one degree or another. Slight wear softens the high points. The only mark of note is a short, angling abrasion over the crest of Liberty's cheek. Census: 3 in 55, 9 finer (6/14).
Ex: Orlando FUN Signature (Heritage, 1/2004), lot 3163.
From The Christopher Bently Nob Hill Collection.(Registry values: N4719)

Coin Index Numbers: (NGC ID# 26BC, PCGS# 8994, Greysheet# 9819)

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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