1885 $20 -- Altered Surfaces -- PCGS Genuine. AU Details....

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Sold on Apr 26, 2018 for:

$54,000.00 Bid Source: Internet bidder

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1885 Twenty Dollar, AU Details
Only 751 Coins Struck

1885 $20 -- Altered Surfaces -- PCGS Genuine. AU Details. Double eagle coinage at the Philadelphia Mint was remarkably scant from 1881 to 1887, with no circulation strikes made for this denomination at all in 1883, 1884, or 1887. In 1885, only 751 Liberty Head twenties were struck. The Mint Director's Annual Report of 1885, stated:

"Notwithstanding the increase in the amount of gold deposited at the mints and assay offices during the year, the coinage was $3,000,000 less than in the previous year. This was occasioned by a continued falling off in the deposits at the Mint at San Francisco, amounting for the year to over $2,500,000, and by the fact that the Mint at Philadelphia, at which the coinage of gold received at the eastern institutions is executed, was engaged principally on silver and minor coins."

Gold coinage amounted to nearly $25 million dollars, mostly in the form of double eagles at the San Francisco Mint. The 1885 Philadelphia coin is a rarity today and highly sought-after. Likely fewer than 100 pieces are known in all grades. This AU-level coin is prooflike and sharp, showing bright straw-gold color and scattered abrasions. The altered surface noted by PCGS is not readily apparent.
From The Estate of S. Gus and Louise Alexander.

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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