1885 $20 MS62 PCGS. CAC....

Description

Ultralow-Mintage 1885 Double Eagle, MS62
751 Business Strikes Manufactured

1885 $20 MS62 PCGS. CAC. The year 1885 is a signal one in American numismatics, one that brought forth numerous rarities on the scene. The 1885 Trade dollars are the most celebrated rarities of the year, although they were clandestine issues with an uncertain date of manufacture. The Carson City Mint struck only double eagles and silver dollars in the brief period before the superintendent, James Crawford, died on March 8 of that year, beginning a four-year hiatus for the facility. But it was the double eagles of Philadelphia rather than Carson City that ended up being the rarest of the year, struck to the extent of only 751 coins. Although there are several P-mint double eagle issues from the 1880s that are low-mintage, only the 1882, at 571 pieces, had a lower production than the 1885.
The reasons for the drastically lower double eagle mintages from Philadelphia are not easily explained in isolation; but from a macroeconomic viewpoint, they resulted from an overall change in Treasury policy beginning in 1882, one aimed at expanding the distribution nationwide of half eagles and eagles. Treasury officials believed that if sufficient lower-denomination gold coins were on hand, depositors of bullion at the nation's mints would accept those coins rather than wait a period of time to receive double eagles. (Note that in 1882, Philadelphia struck more than 2.3 million eagles.)
The fields on this MS62 example are bright and semiprooflike, but this is a function of the small quantity struck rather than the nonexistent possibility that this piece could be a mishandled proof. Numerous small abrasions are peppered throughout both sides, none of them individually significant. The strike is sharp, even though some minor high-point softness appears on the hair curls over the face and a couple of the stars on the reverse. Consistent orange-gold coloration is a plus. Population: 3 in 62, 2 finer (10/11).(Registry values: N7079)

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.

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