1852-O $20 MS(PCGS#8907)

February 2025 Showcase Auction - U.S. Coins

拍卖行

Stack's Bowers

批号

1226

等级

MS63

价格

741,824

详细说明

An outstanding example of a New Orleans Mint double eagle of any year in terms of both strike and surface. The strike is strong and even with excellent details, contrary to the usual almost haphazard strike typical of the double eagles struck at the historic Louisiana facility. The obverse is unlike most examples of the issue with complete center star points, a bold date, and perfect dentils. The same excellence in strike is found on the reverse with most of the razor sharp details highlighted by the bright golden hues found amongst the radiant frosty luster, making for a specimen rich in character and appeal.<p>Even though the New Orleans Mint had produced double eagles in quantity in both 1850 and 1851, the coiners were still working out many of the difficulties found in producing such a large gold coin with precision. Emphasis seemed to have been placed more on quantity over quality, leaving many examples with uneven or weak strikes. In the end, a total of 190,000 specimens came off the Mint's presses in 1852, a decent quantity to be sure, helping to make this one of the more readily available of all New Orleans double eagles. As with most gold coins produced in the Antebellum South, the coins entered circulation where they would remain, seeing use primarily in the region. Numismatics in America was still in its very infancy in the early 1850s and there was essentially no interest in mintmarks at all, which when combined with the denomination's high face value meant that precious few examples of the issue were intentionally saved at the time. The Civil War disrupted monetary circulation patterns drastically, causing many to be used for overseas commerce or otherwise withdrawn from domestic use. When double eagle holdings from overseas started to be repatriated back to these shores in the 20th century, most surviving specimens bore the evidence of not only their extended storage in large sacks, but also the years of general commercial use in the mid- to late 19th century. As a result, it is estimated that about 1,500 or so examples of the 1852-O can be accounted for today, most of those in the VF and EF range, with only a very small number of coins at the AU level or above. This comparative availability at the middle circulated grade levels has made the 1852-O double eagle especially popular for type collectors seeking just a single example of a New Orleans-produced double eagle. The issue's popularity has placed quite a bit of competitive pressure for the few examples known at the AU level and above. This situation is even more pronounced at the Mint State levels of preservation, where at best only about 15 to 20 uncirculated examples of the issue may still be extant for the modern numismatist to appreciate.<p>The present specimen is among the finest for the entire issue, if not for any New Orleans $20. Noted gold specialist Harry W. Bass, Jr. recognized this coin's aesthetic qualities when he obtained it from Paramount International Coin Corporation back in July of 1976. There, it would reside until finally sold as lot 771 of our (Bowers and Merena's) sale of the Bass Collection on May 26, 2000, where we described it thusly:<p><em>Lively yellow gold with a definite olive blush. A superb specimen with brilliant and lustrous surfaces that display areas of prooflike reflectivity. Significantly finer than the choice AU-58 specimen we offered in Part II of the Harry W. Bass, Jr. Collection, Lot 1694, October 1999. Harry Bass outdoes himself once again! The opportunity to obtain this piece is probably more important than the price paid - as it combines very high grade with very high aesthetic appeal.</em><p>The coin was eventually acquired by Robert Galiette where it formed one of the centerpieces of the Gilded Age Collection. Its importance was readily appreciated, even serving as the cover coin for the book <em>U.S. Liberty Head $20 Double Eagles -- The Gilded Age of Coinage</em>, coauthored by Dave Bowers and Ron Galiette. When we sold the Gilded Age Collection in August 2014, Q. David Bowers remarked that:<p><em>The terms "Mint State" and "New Orleans" are not often found together with regard to gold coins of the early 1850s. The present piece is an exception. Not only is it high in the </em>PCGS Population Report<em>, with none finer, but I reiterate that the number given in this and other reports does not necessarily reflect the different coins involved. In addition, I would not be at all surprised if this and other examples graded at this level were put together side by side, a connoisseur would reach for the Galiette coin first.</em><p>These descriptions are as accurate now as they were in 2000 and 2014, and will no doubt remain so for years to come. A certain centerpiece destined to grace the finest of gold cabinets.