Heritage World Coin Auctions
ANA Signature US Coin Sale 1258 2-6 Aug 2017
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Liberty Double Eagles
1881 $20 MS60 PCGS Secure. During the 1880s, the Philadelphia Mint followed a policy of encouraging the use of small-denomination gold coins in the national economy. As a result, Philadelphia production of double eagles was minimal for most of the decade, starting in 1881. A meager mintage of 2,199 Liberty double eagles was accomplished that year and all were released into circulation near the time of issue. It seems that none were saved for numismatic purposes, as the 1881 is very rare in Mint State and unknown in grades above MS62 (6/17). Jeff Garrett and Ron Guth estimate the surviving population at fewer than 40 examples in all grades.
Few 19th century collectors could afford to collect date runs of double eagles, as the face value of each coin represented a significant amount of money in that era. The few wealthy collectors who did collect twenty dollar gold pieces were usually satisfied with ordering a single proof from the Mint every year to update their collections. Collecting large denomination gold coins was never popular in this country until after the Gold Recall of 1933, when astute numismatists realized that a collection of double eagles was one of the few remaining legal methods of investing in gold. As a result, the 1881 double eagle was rarely seen in public auctions before the 1940s. The rarity of the 1881 double eagle was not appreciated during that era, and it remains somewhat overlooked today.
The present coin is an attractive Mint State specimen, with well-detailed design elements and pleasing orange-gold surfaces that show the expected number of minor contact marks for the grade. The fields display prooflike reflectivity throughout, no doubt because of the small mintage. This coin is somewhere at, or near, the bottom of the Condition Census for the issue, as PCGS has graded three specimens in finer numeric grades, and NGC has certified two superior specimens, possibly including some resubmissions and crossovers. Housed in a new 30th Anniversary green holder. Population: 2 in 60, 3 finer (6/17).
HID02901242017
1881 $20 MS60 PCGS Secure. During the 1880s, the Philadelphia Mint followed a policy of encouraging the use of small-denomination gold coins in the national economy. As a result, Philadelphia production of double eagles was minimal for most of the decade, starting in 1881. A meager mintage of 2,199 Liberty double eagles was accomplished that year and all were released into circulation near the time of issue. It seems that none were saved for numismatic purposes, as the 1881 is very rare in Mint State and unknown in grades above MS62 (6/17). Jeff Garrett and Ron Guth estimate the surviving population at fewer than 40 examples in all grades.
Few 19th century collectors could afford to collect date runs of double eagles, as the face value of each coin represented a significant amount of money in that era. The few wealthy collectors who did collect twenty dollar gold pieces were usually satisfied with ordering a single proof from the Mint every year to update their collections. Collecting large denomination gold coins was never popular in this country until after the Gold Recall of 1933, when astute numismatists realized that a collection of double eagles was one of the few remaining legal methods of investing in gold. As a result, the 1881 double eagle was rarely seen in public auctions before the 1940s. The rarity of the 1881 double eagle was not appreciated during that era, and it remains somewhat overlooked today.
The present coin is an attractive Mint State specimen, with well-detailed design elements and pleasing orange-gold surfaces that show the expected number of minor contact marks for the grade. The fields display prooflike reflectivity throughout, no doubt because of the small mintage. This coin is somewhere at, or near, the bottom of the Condition Census for the issue, as PCGS has graded three specimens in finer numeric grades, and NGC has certified two superior specimens, possibly including some resubmissions and crossovers. Housed in a new 30th Anniversary green holder. Population: 2 in 60, 3 finer (6/17).
HID02901242017