1881 $20 MS61 PCGS....

Description

1881 Double Eagle, MS61
Mint State Rarity
Only 2,199 Pieces Struck

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 727,000-piece mintage. On the other hand, only 2,199 circulation strikes were produced in Philadelphia. It was the start of a challenging run of low double eagle production 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 2020, although Heritage has offered three AU58 examples during that period, the most recent being an 1881 NGC certified example that brought $105,000 in 2023.

A dozen Uncirculated 1881 twenties are reported by PCGS and NGC combined, although we are certain there are some duplicate submissions within that total. At PCGS, the highest grade is shared by two examples at MS62 (1/25). PCGS estimates only 40 to 60 pieces are known in all grades.

Scattered small and medium-sized contact marks accompany the lustrous surfaces of the present MS61 example, representing 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 bag grime seen on so many double eagles from this era.

The coin is sharply struck, although possibly from a later state of the dies, because only small areas of prooflike finish exist in the fields -- a trait seen on all 1881 twenties. Predominantly brilliant and frosty luster radiates from both sides. Rich, orange-gold color with lemon-gold margins display red-gold accents amid the sparkling mint luster. This rare double eagle is sure to offer an enticing opportunity for the advanced U.S. gold enthusiast. PCGS Population: 2 in 61, 2 finer (1/25).
Ex: Central States Signature (Heritage, 4/2014), lot 5837, which realized $152,750. (Registry values: N1)
From The Mississippi Collection of Double Eagles, Part II.

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 all of [The Mississippi Collection of Double Eagles, Part II ]

View Certification Details from PCGS