LOT #4126 |
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1885 $20 AU58 NGC....
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Sold on Aug 24, 2022 for:
$66,000.00
Bid Source: Internet bidder
Description
1885 Double Eagle, AU58
Classic Twenty Dollar Rarity
Only 751 Examples Struck
1885 $20 AU58 NGC. From a tiny mintage of just 751 pieces,
the 1885 Liberty double eagle is a rare issue in all grades today.
The small mintage was a consequence of contemporary Mint policy,
which sought to reduce production of double eagles and increase the
circulation of the five and ten dollar denominations. The
Philadelphia Mint followed this policy for much of the 1880s, and
small double eagle mintages were the rule, rather than the
exception, during this time period. Jeff Garrett and Ron Guth
discuss the 1885 double eagle in their Encyclopedia of U.S. Gold
Coins:"The mintage for the 1885 double eagle is among the lowest of all U.S. issues. Very few gold coins have a mintage below 1,000. It goes without saying that the date is extremely popular. The availability of Proof examples is the only thing keeping this issue from being extremely expensive. The Smithsonian lacks a circulation-strike example for this reason. It is estimated that there are fewer than 100 known in all grades."
PCGS CoinFacts offers a similar assessment of the surviving population at 100 examples, all told. The majority of examples seen are in circulated grades, as few high-grade specimens were preserved for numismatic purposes. The 1885 did not appear regularly in public offerings until well after the turn of the century, but the issue became slightly more available after World War II, when a limited number of coins surfaced in European holdings. P. Scott Rubin's research has uncovered only six public offerings before 1962. An early appearance was in lot 320 of the 11th Mail Bid Sale (B. Max Mehl, 2/1909), "Twenty Dollars. 1885 P Mint. Uncirculated. Very rare. Less than a thousand issued." Recent prices realized for the issue include the $63,000 brought by an AU58 PCGS example in a Heritage sale in 2018.
This impressive near-Mint example displays just a touch of friction on the sharply detailed design elements and the lightly abraded yellow and orange-gold surfaces retain much of their original mint luster. The overall presentation is most attractive. We expect intense competition from series specialists when this lot is called. Census: 14 in 58, 17 finer (7/22).(Registry values: N4719)
Coin Index Numbers: (NGC ID# 26BM, PCGS# 9003, Greysheet# 9821)
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.
Auction Info
2022 August 22 - 28 US Coins Signature® Auction #1348 (go to Auction Home page)
Auction Dates
August, 2022
22nd-28th
Monday-Sunday
Bids + Registered Phone Bidders: 18
Lot Tracking Activity: N/A
Page Views: 225
Buyer's Premium per Lot:
20% of the successful bid per lot.
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