1881 $20 MS(PCGS#8994)

Summer 2025 Global Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3395

Grade

AU53

Price

57,600

Lot Description

This highly significant coin was discovered in July 2015 by John Pack, in an unsearched bag of Liberty Head double eagles that had never before been in the numismatic market. This was prior to the revelation of the now famous Fairmont Collection, a much larger and more famous discovery that yielded many rarities, though this very rare issue did not appear in that holding. This is the first auction appearance of this example. It is a lovely About Uncirculated representative of this key date Philadelphia Mint double eagle. Lustrous satin surfaces exhibit vivid reddish-rose iridescence to dominant deep honey-orange and medium gold color. The strike is well executed and, with all major features bold, if not sharp, this lovely example obviously saw only light use in commerce.<p>The 1881 inaugurates a run of (extremely) low mintage Liberty Head double eagles from the Philadelphia Mint that continues through 1887. A few of the dates in this run - 1883, 1884 and 1887 - are actually Proof-only issues, while for the remainder the 1881 has the most generous delivery of 2,199 pieces. That this is a rare issue should be obvious even to the casual observer and, indeed, Q. David Bowers (<em>A Guide Book of Double Eagle Gold Coins</em>, 2004) confirms this by providing an estimate of "no more than a few dozen" extant in all grades. Of the coins believed extant, EF-40 to AU-50 is the typical grade range, such pieces often heavily abraded. With the quality seen here, it is a significant highlight of the gold offerings in this sale, and will be a find for advanced double eagle enthusiasts.