1884-S $20 MS65+ PCGS. CAC. Glistening orange-gold surfaces contain regions of white-gold and hints of periwinkle on ...

Description

1884-S Double Eagle, MS65+ CAC
Sole Finest at PCGS; Ex: Pogue

1884-S $20 MS65+ PCGS. CAC. Glistening orange-gold surfaces contain regions of white-gold and hints of periwinkle on the reverse. Strike is exquisite across all design elements, and as the Gem grade suggests, no troublesome abrasions can be found in any field or on the cheek. This confluence of wonderful attributes achieved the attention of CAC, who awarded it the coveted "green bean." This coin also caught the eye of D. Brent Pogue, whose collection it once resided in.
     Most San Francisco double eagles of this time period follow a similar pattern: common in VF through MS62, and very rare any finer. The reason for this is twofold. Gold circulated readily in the West in a way it did not in the East, even during the suspension of gold payments that was initiated by the Civil War in 1862 and lasted to 1878, as paper money was not readily accepted in the West as it was in the East. This provided a higher percentage of lower graded examples for San Francisco issues than for Philadelphia issues, particularly before 1878.
     What the two Mints share, however, is a preponderance of low-end Mint State coins due to trade and exports. Double eagles were the American trade coin of choice, enjoying much higher mintages than the lower gold denominations due to their convenience: exporting one double eagle is easier than two eagles, or four half eagles. The United States was on the gold standard during this time, as was most of Europe and South America, the destinations for most of these double eagles.
     This example appears to be one of the few non-exported survivors, or at the very least, one that miraculously survived without the bagmarks that are the hallmark of repatriated examples. In fact, the present example is unimprovable, making it the ideal example for Registry Set collectors.
Ex: Dallas Signature (Heritage, 10/2006), lot 3290; ANA Signature (Heritage, 3/2007), lot 2291; ANA Signature (Heritage, 8/2007), lot 2036; The D. Brent Pogue Collection Part VII (Stack's Bowers, 3/2007), lot 7350.

Coin Index Numbers: (NGC ID# 26BL, PCGS# 9002, Greysheet# 9940)

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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