1881 $20 MS62 NGC....

Description

1881 Twenty Dollar, Important MS62
Tied for Finest Certified
Major Low-Mintage Rarity

1881 $20 MS62 NGC. We have had the privilege of offering some impressive Mint State 1881 double eagles in the past, but this is the first MS62 we have handled. Fewer than a dozen examples are certified in any Mint State by either service, and this coin is one of only two pieces certified MS62 by NGC and PCGS combined. None are certified finer. The 1881 is the first of several low-mintage Philadelphia double eagles from the 1880s. Among them, only the redoubtable 1882 (571 pieces struck) is rarer in circulation strike format, and that is by a slim margin.

Regardless of date, the thought of adding a circulation strike double eagle to a collection seldom entered the minds of early collectors, who could always purchase a proof in pristine condition from the Mint. Interestingly, nearly 20 pieces went unsold from a mintage of 61 proofs in 1881. Of the 2,199 circulation strikes that were made, PCGS CoinFacts suggests only 40 to 60 pieces now survive in all grades. Early on, twenty dollar gold pieces were beyond the means of most collectors, often trading barely over face value when offered.

In the 1930s, double eagles gained interest among a new generation of collectors. An 1881 P-mint twenty was included in the Wendell C. Foster Collection (Thomas Elder, 6/1935), lot 2657, where it was described "1881 P Mint. Very rare, coinage only about 2,000 pcs. Fine."

Today, the 1881 Philadelphia issue has its Mint State rarity well established. Finer pieces become less likely to surface with each passing year, and upward "grade creep" is less than might be expected for top-rated coins of this caliber.

The 1881 has a reputation for bagmarks and abrasions -- the primary reason why no coins exceed the MS62 grade level. This piece shows some marks that dot the surfaces, although the partially prooflike fields are less busy than the other Uncirculated examples we have seen. A short mark above the ear, a shallow contact below the mouth, and a small depression on the cheek are noted. The neck truncation is unmarked except for a minor reeding mark that runs parallel to the curls. The strike is exceptionally sharp for an 1881 throughout both sides, and bright mint luster coruscates from every angle. Frosted, rich-gold devices contrast boldly with the reflective fields.

Any advanced double eagle collection will benefit from this exceptional Philadelphia rarity, and Registry Set specialists are sure to take notice. There will be a high sense of anticipation when this 1881 twenty is called.(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 NGC