1891 $20 MS60 NGC....

Description

1891 Liberty Twenty, MS60
Low-Mintage Philadelphia Issue
Only One Finer Coin at NGC

1891 $20 MS60 NGC. The 1891 Liberty double eagle boasts a business-strike mintage of just 1,390 pieces, a tiny production total in absolute terms, but not unduly small compared to Philadelphia Mint outputs from the 1880s. The silver lobby was so strong in this country during this era that many European traders feared Americans would try to pay accounts in foreign trade with silver, a metal that was not in good standing with European central banks. They insisted on payment in gold and exports of double eagles rose sharply throughout the late 19th century in response. Double eagles were seldom seen in circulation in the Eastern United States after the Civil War and the Mint had to devote much of its resources to coining the vast numbers of silver dollars mandated by the Bland-Allison Act and the Sherman Silver Purchase Act. It must have seemed inefficient to spend time and resources striking double eagles that would just vanish into European holdings as soon as they were struck. This probably explains the low Philadelphia Mint production of double eagles in the 1880s and early 1890s.

The 1891 double eagle is an elusive, underrated issue in all grades today. Few examples were saved at the time of issue, because contemporary collectors preferred proofs over business strikes for their collections. PCGS CoinFacts estimates the surviving population at about 100 examples in all grades, and Mint State coins are especially hard to locate. PCGS and NGC have combined to certify only 11 Mint State coins between them, and even that small total may include some duplication.

The present coin is an impressive Mint State specimen, with well-detailed design elements and partially prooflike fields. The bright yellow-gold surfaces show numerous grade-consistent contact marks and chatter in the fields, but the overall presentation is still attractive. Census: 3 in 60, 1 finer (11/19).
From The "So Cal" Collection. (Registry values: N7079)

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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