1891 $20 AU58 PCGS Secure....

Description

1891 Twenty Dollar, AU58
Fewer Than 100 Pieces Believed Known
Major Philadelphia Rarity

1891 $20 AU58 PCGS Secure. The 1891 is among the greatest Philadelphia Mint rarities in the Liberty double eagle series. It boasts the seventh-lowest mintage of any mint from 1850 to 1907, with all six lower-mintage dates being the rare or nonexistent Philadelphia issues of the 1880s. The 1891 was struck to the limited extent of 1,390 coins and is one of the final very low-mintage dates in the series.

Only about 100 examples of this date survive in all grades, and Mint State examples are extremely rare. In their gold Encyclopedia, Garrett and Guth write: "Many of the important collections of previous generations did not have a circulation-strike example of the 1891 double eagle." Since 1993, we have handled an 1891 double eagle on only 38 occasions, including some coins that were offered multiple times.

A common characteristic of the 1891 twenty, whether circulated or Mint State, is moderate to heavy surface abrasions. Most examples of the issue known today survived by chance rather than via numismatic collections, resulting in the coins showing the abuse of circulation. The present example, a near-Mint coin with sharp motifs and satiny straw-gold luster, is an exception; no heavy abrasions are observed, and only light, scattered hairlines appear beneath a loupe to accompany trivial high-point friction. The fields offer a hint of reflectivity when tilted beneath a light.

The last PCGS coin that we handled in this grade was lot 5734 in our August 2014 ANA Signature sale, which realized $52,875. The present coin is visually finer, and at least worthy of an equally strong bid. An excellent opportunity for the patient collector to acquire this rare and challenging Philadelphia issue. Population: 9 in 58, 6 finer (2/17).(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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