1891 $20 AU58 NGC....

Description

1891 Double Eagle, Semiprooflike AU58
Exceedingly Rare This Fine
Only 1,390 Coins Struck

1891 $20 AU58 NGC. The 1891 double eagle has received considerable demand and heraldry in recent years due to its scant mintage of 1,390 pieces. PCGS reports "about 100 known," although gold specialist Mike Fuljenz, in Type Three Double Eagles, second edition (2015), writes:

"It is likely that the total number known for business-strikes is around 75 pieces, and most are in the EF40 to AU50 grade range. The 1891 is very rare in the higher AU grades and extremely rare in uncirculated with an estimated 10 to 12 known."

While the rare business strike double eagles from the 1880s are generally well-known among collectors (the 1881, 1882, 1885, and 1886 issues), the same was not always true for 1891 twenties. Few circulation strikes were preserved in old collections, where proofs were the preferred format. Our Permanent Auction Archives contain only 45 previous offerings of this date including some multiple appearances of the same coins, almost exclusively in the AU50-AU58 grade range, suggesting that Fuljenz's rarity estimate is accurate. If even a conservative 10% resubmission rate is assumed, the combined NGC and PCGS certified population of 82 coins does not contradict these findings. The 1891 is an issue that is absent from the Smithsonian Institution in circulation strike format.

This near-Mint example displays a sharp strike and characteristically semiprooflike fields. Rich, straw-gold hues dance across the reflective surfaces, with attractive peach-gold luster in the reflective areas. Barely a brush of high-point friction occurs over the relief elements. Scattered light marks exist, although they are not unusual for the grade. Just a few years ago, a low-end Uncirculated example garnered more than $82,000 at auction -- see FUN Signature (Heritage, 1/2014), lot 5560. The present AU58 coin could easily flirt with a record mark for its near-Mint grade in light of coin's superior eye appeal and quality. It is certainly a coin that would fit comfortably into any Mint State set. Census: 16 in 58, 5 finer (7/19).
Ex: New York Signature (Heritage, 10/2016), lot 5588.
From The Poulos Family Collection. (Registry values: N4719)

Coin Index Numbers: (NGC ID# 26C2, PCGS# 9016, Greysheet# 9826)

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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