1880-S $20 MS(PCGS#8993)

1880-S $20 MS (PCGS#8993)

Winter 2022 U.S. Coins Auction

Lot Description: Lovely Mint State 1880-S $20 Liberty 1880-S Liberty Head Double Eagle. MS-62 (PCGS). Desirable Mint State preservation for this scarce and conditionally challenging Type III Liberty Head double eagle issue. Both sides are bathed in a handsome blend of vivid, original color and billowy mint luster. Fully struck and nearly in the Choice Mint State category. 836,000 double eagles were coined at the San Francisco Mint in 1880, eclipsing the Philadelphia Mint production figure by a wide margin. It is likely that large numbers immediately entered the channels of commerce, as gold coins were very popular on the West Coast for day-to-day transactions. Many others may have been kept on hand in Treasury vaults for the redemption of Gold Certificates. Q. David Bowers in his 2004 Guide Book of Double Eaglesestimated a population of 200 to 300, or perhaps even more Uncirculated examples. This estimate (which is probably on the order of at least 500 coins in today's market) represents a vast increase in supply since the early 1980s, the result of repatriations from foreign bank hoards. The 1880-S is still rare in comparison to many other late date San Francisco Mint Liberty Head double eagles, however, especially at and above the grade level offered here. Provenance: From the Fairmont Collection - CBL Set. PCGS# 8993. NGC ID: 26BB. Click here for certification details from PCGS.