1881 $20 MS61 PCGS....

Description

1881 Double Eagle, MS61
Mint State Rarity
None Certified Finer by PCGS or NGC

1881 $20 MS61 PCGS. There was no emphasis on double eagles at the Philadelphia Mint in 1881 or in any the succeeding six years. Silver dollars were the focus, with the Bland-Allison Act driving mintages to record levels from 1879 to 1889. Millions upon millions of Morgans piled up in the Treasury vaults and at the Branch Mints.

The San Francisco Mint handled most of the double eagle production in 1881, with a robust mintage of 727,000 pieces. On the other hand, just 2,199 circulation strikes were produced in Philadelphia. It was the start of a challenging series of low double eagle mintages by the Mint, culminating with the rare, proof-only 1887 issue.

Because so few examples of the 1881 twenty exist, it is unusual to have more than one auction appearance of the date in a year. Often multiple years can pass without an offering. We have not listed a Mint State 1881 double eagle since 2009, although an AU58 example sold at our Orlando FUN Signature sale in January, 2014 as lot 5550 for $111,625.00.

A total of six Uncirculated 1881 twenties are reported by PCGS and NGC combined, but we are aware of at least one duplication, so the total is most likely five coins certified in Mint State, with the highest grade shared by four examples at MS61 (3/14). Fewer than 50 pieces are known in all grades.

Numerous small and medium sized contact marks litter the lustrous surfaces of the present MS61 example, and these are the grade-limiting factors. Perhaps the most noticeable mark is a sequential series of small digs from Liberty's temple area to the cheekbone. The surfaces of this piece are unquestionably original, with a bit of the "dirty gold" appearance seen on so many double eagles from this era.

The coin is sharply struck, although possibly from a later state of the dies, because there are only small areas of prooflike finish in the fields -- a trait seen on all Twenties of this issue. The surfaces on this coin are predominantly brilliant and frosty. Rich, orange-gold color with lemon-gold margins display red-gold accents amid the brilliant luster. This rare double eagle is a very special opportunity for the advanced U.S. gold enthusiast.
(Registry values: N1)

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.

View Certification Details from PCGS