Heritage World Coin Auctions
FUN Signature US Coin Sale 1251 4-6 & 8-9 Jan 2017
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Liberty Double Eagles
1891 $20 MS61 PCGS Secure. The 1891 is among the final great rarities and low-mintage dates of the Liberty double eagle series. Most coinage of this denomination in 1891 occurred at the San Francisco Mint, and those coins are abundant today. Carson City twenties of this date are scarce, coming from a mintage of only 5,000 pieces. But the Philadelphia issue, with a mintage of only 1,390 coins, is the rarest; this date survives with a population of fewer than 100 coins by modern estimates. Including possible resubmissions, PCGS and NGC combined report just 81 examples. Our Permanent Auction Archives, going back to the 1993, list only 37 previous appearances of this issue, primarily in AU grades. We have only handled a Mint State coin on four separate occasions, the most recent being in our 2014 FUN Signature sale, where a PCGS MS61 coins realized $82,250.
The rarity of this issue stems not only from its mintage but also from a lack of collector demand until decades after its production. During the late 1800s and leading into the 20th century, proofs were typically acquired in place of bagmarked and unsightly circulation strikes. Almost no one distinguished between proofs and circulation strikes when it came to completing a date set. As a result, nearly half of the proof coinage of 1891 survives today, compared to only about 7% of the regular issue.
This Condition Census MS61 example displays a sharp strike and exceptional prooflike fields with rich orange-gold coloration. Scattered abrasions determine the grade but none are individually obtrusive. A small grease streak (as made) above star 11 serves as a pedigree identifier. It may be years before a comparable example of this issue appears at auction again. Population: 4 in 61, 2 finer (11/16).
1891 $20 MS61 PCGS Secure. The 1891 is among the final great rarities and low-mintage dates of the Liberty double eagle series. Most coinage of this denomination in 1891 occurred at the San Francisco Mint, and those coins are abundant today. Carson City twenties of this date are scarce, coming from a mintage of only 5,000 pieces. But the Philadelphia issue, with a mintage of only 1,390 coins, is the rarest; this date survives with a population of fewer than 100 coins by modern estimates. Including possible resubmissions, PCGS and NGC combined report just 81 examples. Our Permanent Auction Archives, going back to the 1993, list only 37 previous appearances of this issue, primarily in AU grades. We have only handled a Mint State coin on four separate occasions, the most recent being in our 2014 FUN Signature sale, where a PCGS MS61 coins realized $82,250.
The rarity of this issue stems not only from its mintage but also from a lack of collector demand until decades after its production. During the late 1800s and leading into the 20th century, proofs were typically acquired in place of bagmarked and unsightly circulation strikes. Almost no one distinguished between proofs and circulation strikes when it came to completing a date set. As a result, nearly half of the proof coinage of 1891 survives today, compared to only about 7% of the regular issue.
This Condition Census MS61 example displays a sharp strike and exceptional prooflike fields with rich orange-gold coloration. Scattered abrasions determine the grade but none are individually obtrusive. A small grease streak (as made) above star 11 serves as a pedigree identifier. It may be years before a comparable example of this issue appears at auction again. Population: 4 in 61, 2 finer (11/16).