LOT #5635 |
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1886 $20 XF45 NGC....
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Sold on Sep 24, 2010 for:
$54,625.00
Bid Source: Mail/Fax bidder
Description
1886 Liberty Head Double Eagle, XF45
Only Double Eagle Business-Strike Mintage of 1886
Rare, Key Date, Just 1,000 Pieces Coined
1886 $20 XF45 NGC. The 1886 Liberty Head double eagle boasts
an extremely low business-strike mintage of 1,000 pieces, and the
date is one of the rarest issues of the series. The low production
figure is actually on par with other Philadelphia totals of the
1880s, as the San Francisco facility was tasked with producing the
great majority of the twenty dollar output during this decade.
Three years (1883, 1884, and 1887) saw no Philadelphia
business-strike mintage at all, although proofs were struck for
collectors. In a strange turn of events, none of the branch mints
coined double eagles in 1886, making the tiny Philadelphia output
serve as the entire supply for the year. The issue is seldom
encountered in any grade today. In their Encyclopedia of U.S.
Gold Coins 1795-1933, Jeff Garrett and Ron Guth report:"This date is very popular due to the fact that in 1886 double eagles were produced only at the Philadelphia Mint. The large mintage expected from the San Francisco Mint did not materialize. The issue also possesses one of the lowest mintages of the Liberty Head series. Of the 1,000 coined, fewer than 40 are thought to exist today. Many of the classic-name collections of the past did not have a circulation example."
The present coin possesses the reflective, prooflike surfaces often seen on low-mintage dates. A moderate number of abrasions can be detected on both sides, none worthy of individual mention. The design elements were strongly impressed, and much original detail remains on Liberty's hair, the star centers, and the eagle's feathers. Light traces of wear are evident, distributed evenly over the surfaces. We expect intense competition from series enthusiasts when this lot is called. Census: 2 in 45, 21 finer (7/10).(Registry values: N4719)
Coin Index Numbers: (NGC ID# 26BR, PCGS# 9006, Greysheet# 9822)
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
2010 September Long Beach, CA Signature US Coin Auction #1144 (go to Auction Home page)
Auction Dates
September, 2010
23rd-26th
Thursday-Sunday
Bids + Registered Phone Bidders: 16
Lot Tracking Activity: N/A
Page Views: 4,378
Buyer's Premium per Lot:
15% of the successful bid per lot.
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