1868-S $20 MS(PCGS#8954)

March 2018 Baltimore U.S. Coins Auction

Auctioneer

Stack's Bowers

Lot Number

10403

Grade

MS62

Price

43,200

Lot Description

Condition Census 1868-S Double Eagle PCGS MS-62 Registry Set Candidate 1868-S Liberty Head Double Eagle. MS-62 (PCGS). Offered is a legendary Mint State example of this rare issue in the conditionally challenging Type II Liberty Head double eagle series. Both sides retain full mint luster and display a satin to softly frosted texture. Handsome golden-orange patina enhances a very smooth appearance that is not far from a Choice grade. Consistent with other years of the 1860s, the production of double eagles at the San Francisco Mint was immense at 837,500 pieces, dwarfing that of the Philadelphia facility. Most of these entered the channels of commerce along the Pacific Coast, where gold was used in day-to-day transactions as freely as paper money was used back East. Many others were likely shipped overseas and melted. Q. David Bowers estimated a population of five to eight different Uncirculated examples when he wrote his Guide Book of Double Eaglesin 2004. This estimate agrees nicely with David W. Akers' 1982 research, as the latter was only able to find six examples cataloged as Mint State in a survey of more than 400 major auction sales. More recently, it would appear that several additional MS-60/61 quality examples have come onto the market, perhaps upgrades from AU. The 1868-S continues to be a rare and desirable double eagle in the upper echelons of condition, with this MS-62 numbering among the finest certified and solidly in the Condition Census. Provenance: From the A.J. Vanderbilt Collection. Earlier from Quality Sale Corp.'s/Abner Kreisberg's Gainsborough Collection sale, September 1980, lot 1585; via Stack's. Lot tag included. PCGS Population: 4; 0 finer. PCGS# 8954. NGC ID: 26A4. Click here for certification details from PCGS.