1857-O $20 MS(PCGS#8921)

June 2018 Baltimore U.S. Coins Auction

拍卖行

Stack's Bowers

批号

183

等级

MS60

价格

506,865

详细说明

Prooflike Uncirculated 1857-O Double Eagle An Outstanding Rarity 1857-O Liberty Head Double Eagle. MS-60 (PCGS). This is an exceptionally attractive, exceedingly rare Mint State example of an issue that is elusive even in circulated grades. Light khaki-gold patina blankets both sides, the surfaces revealing brighter golden yellow color as the coin dips into a light. Direct viewing angles also call forth ample evidence of a prooflike finish, reflective tendencies most pronounced in the protected areas around the devices. Although most survivors of this issue are softly struck, this piece is expertly produced by early New Orleans Mint standards. Overall detail is sharp, and the O mintmark is full despite being a trifle thin at its base. A premium quality coin for both the issue and the assigned grade that stands tall among the highlights in the Fairmont Collection. The 1857-O and 1858-O are anomalies among New Orleans Mint double eagles from the late 1850s, being the only two issues from that era with mintages in excess of 10,000 coins. For the 1857-O, government records provide a figure of 30,000 pieces struck for a face value of $600,000. This is still a paltry total in an absolute sense, of course, the New Orleans Mint receiving very little gold bullion from California after the San Francisco Mint commenced coinage operations in 1854. Additionally, the Louisiana facility was closed in the early part of 1857 due to repair work to the building. The 1857-O is in the third rarity tier among New Orleans Mint double eagles, ranking alongside the 1858-O and 1860-O. Examples are elusive in all grades, Douglas Winter (Gold Coins of the New Orleans Mint: 1839-1909, 2006) providing for just 175 to 200 coins extant. Q. David Bowers takes a stricter approach with an estimate of 90 to 150 survivors in his Guide Book of Double Eagle Gold Coinspublished by Whitman in 2004. Both authors are in agreement that fewer than 10 Mint State coins are extant, this being one of our only offerings at this level in recent decades. Interested parties are urged to pursue this coin with vigor for, once it finds its way into another advanced double eagle collection, it may be many years before an example of comparable rarity and quality appears on the open market. Provenance: From the Fairmont Collection. PCGS Population: just 1; with a mere two finer (MS-63 finest). PCGS# 8921. NGC ID: 2694. Click here for certification details from PCGS.