1869 $20 MS65+ PCGS CAC
Regular price $0.00
Featuring lovely mint frost and richly original olive-gold patina, this is a truly remarkable Liberty Head double eagle irrespective of type or date. The Type II double eagle as a whole is among the most challenging issues to obtain in high grade. The Type I double eagle is available in Uncirculated thanks in part to treasure recovered from ships like the S.S. Republic, S.S. Brother Jonathan and S.S. Central America. Even Type III issues can be found in moderately higher grades courtesy of repatriations. This is not the case with the Type II double eagle. In 1869. 175,130 were struck and of those 1,260 pieces have survived, an estimated survival rate of 0.72%. In the early 1980s in his landmark guide to gold coins, David W. Akers wrote that he was able to locate only seven auction listings of Uncirculated pieces in a survey of more than 400 major auction sales. The situation had not much improved by the time Q. David Bowers wrote in his Guide Book of Double Eagle Gold Coins in 2004. Today's population reports and census figures allow a clear look at the grade landscape and it confirms what has been suspected for decades: the 1869 is exceptionally rare above Choice Mint State. Standing at the top is this coin, the sole single finest by a mile. In fact, so special is this coin that there is only one other MS-66 Type II double eagles extant, this included as it was MS66, and only one finer, the MS-67 1875-S, a common date unlike the 1869. Provenance: Earlier, from Heritage's sale of the Madison Collection, January 2008 FUN Signature Auction, lot 3319, MS65 OGH PCGS for $299,000; Heritage's sale of the Gold Rush Collection, January 2005 FUN Signature Sale, lot 30073, MS65 OGH PCGS for $218,500. MS65 PCGS PRICE GUIDE - $300,000. No Price Guide 65+
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