1908-S $20 MS66 PCGS....

Description

Shining Premium Gem 1908-S Double Eagle

1908-S $20 MS66 PCGS. The San Francisco Mint opened its doors officially in April 1854. By 1874 it had officially outgrown the small facility housing it, and a new manufacturing operation was built, in the Greek Revival style popular during the mid-19th century. The new, handsome plant pumped out many millions of coins until the disastrous great earthquake that struck San Francisco on Wednesday, April 17, 1906. The U.S. Mint's website, www.usmint.gov, says concerning the San Francisco Mint:

"The Mint's production of coins was uninterrupted for 32 years, until the disastrous earthquake of 1906. Because the gas works were partially destroyed, operations stopped temporarily. But the beautiful, solidly constructed Mint building survived both the earthquake and the ensuing firestorm. In fact, the Mint was the only financial institution capable of operating immediately after the disaster and became the treasury for disaster relief funds, performing other emergency banking services as well."

Although the epicenter of the shock was two miles offshore, the magnitude-7.8 quake ruptured the San Andreas Fault both north and south for a distance of 296 miles. Tremors were felt as far north as Oregon and as far south as Los Angeles, and inland all the way to Nevada. Although some residents fell victim to building collapses, many more are thought to have died in the ensuing fire, some of it caused by people firing their own buildings to collect insurance on properties indemnified against fire--but not earthquakes.
Despite the ravages to the surrounding area, the San Francisco Mint nonetheless managed to surpass both the Philadelphia and Denver mints in 1906 in double eagle production. It is likely that then, as now, readily circulating currency helped reassure the populace in troubled economic times. During the last year of Liberty Head double eagle production, in 1907, San Francisco again struck more than 2 million examples of this largest coin denomination.
The mintage of the 1908-S double eagle, only 22,000 pieces, when viewed against the preceding history is doubly surprising. Perhaps the easiest explanation is that the large mintages of the previous two years obviated the need for a large double eagle emission; one also notes that the number of 1908-S eagles produced was down sharply from the 1907-S (59,850 versus 210,500).
Regardless of the reason so few pieces were produced, the 1908-S has been a significant rarity ever since its creation. Most survivors grade from Very Fine to AU, although a few notable pieces exist in the higher Mint State grades. This splendid MS66 piece offers glorious surfaces with splendid satiny cartwheel luster and rich, mellow orange-gold coloration. Like most examples, this piece is sharply struck and pleasing, and even close perusal under a loupe reveals only the most minute surface ticks.
From The Bay State Collection, Part Two.(Registry values: N1)

Coin Index Numbers: (NGC ID# 26FA, PCGS# 9149, GSID# 10161)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz
Mintage: 22,000

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.

View all of [The Bay State Collection, Part Two ]

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