1882-S $20 MS(PCGS#8998)

June 2018 Baltimore U.S. Coins Auction

Auctioneer

Stack's Bowers

Lot Number

256

Grade

MS63+

Price

16,800

Lot Description

Premium Choice Uncirculated 1882-S Double Eagle Among the Finest Certified 1882-S Liberty Head Double Eagle. MS-63+ (PCGS). CAC. Frosty light golden-orange surfaces are fully struck throughout with an uncommonly smooth appearance for the issue. 1,125,000 double eagles ($22,500,000 face value) were coined at the San Francisco Mint in 1882, attesting to the fact that the demand for gold coins on the West Coast continued to be robust. Large numbers entered into the channels of commerce where they circulated until they were well worn; others were used in overseas trade. Back in 1982 David W. Akers regarded the true Uncirculated examples of the issue as "definitely scarce" and accounted for auction appearances of Mint State examples in scarcely more than 5% of the major auction sales he examined in his research. By 2004, when Q. David Bowers wrote his Guide Book of Double Eagles, the situation had changed, and Mint State examples were estimated to be in the hundreds rather than dozens. Current high-end estimates put the Uncirculated population in excess of 1,000 pieces, and MS-60 examples command prices close to the "type" level. At and above the MS-63 level, however, the 1882-S is anything but a "type" coin; in fact, it is a significant condition rarity that is rarely encountered in today's market. A fleeting bidding opportunity for the astute double eagle enthusiast. Provenance: From the Fairmont Collection. PCGS Population: 4; 3 finer (MS-64+ finest). PCGS# 8998. NGC ID: 26BG. Click here for certification details from PCGS.