1867 $20 MS(PCGS#8951)

August 2018 ANA U.S. Coins Auction Philadelphia, PA

Auctioneer

Stack's Bowers

Lot Number

4462

Grade

MS62

Price

6,000

Lot Description

1867 Liberty Head Double Eagle. MS-62 (NGC). A sharply struck, highly lustrous example bathed in vivid golden-orange patina. The level of surface preservation is superior for the issue and worthy of the strongest bids. The mintage of this Philadelphia Mint issue is 251,015 circulation strikes, or $5,020,300 face value. An exception to the general rule for double eagle issues from the Civil War and Reconstruction eras, many were sent to Europe, and of these at least a few hundred were not melted. Q. David Bowers estimates the Mint State population at 350 to 500, which is a dramatically larger figure than is usually seen for Philadelphia Mint double eagles from the 1860s. David W. Akers in 1982 wrote that these came from Europe in the 1960s, and he was of the opinion that there were multiple hoards. Perhaps there were simply multiple disbursements from a single hoard, as the surface characteristics are said to be similar for these pieces. This is a truly impressive coin for the assigned grade, and a find for Mint State type and date collectors alike. Provenance: From The Des Moines Collection. NGC Census: 37; 3 finer (MS-66 finest). PCGS# 8951. NGC ID: 269Z. Click here for certification details from NGC.