Lot 4796
1885 $20 Liberty. PCGS graded AU-58. Practically untoned. Significant luster still evident. A tantalizing low mintage double eagle with semi reflective fields. Only 751 struck for circulation. Very rare date in non Proof condition.
Little historical information exists to explain why the Philadelphia Mint, unlike the San Francisco Mint, struck so few coins in the early to middle part of the 1880s. We do know that the financial system had recovered from the Greenback inflation of 1861-79 when gold or specie payments once again became available in the East Coast banks. Be that as it may, production figures were historically low in the years 1881 to 1887. The situation did not improve until 1888 when mintage of double eagles returned to more normal levels. With a mintage of only 751 coins, the offering of any 1885 double eagle makes collectors stand up and take notice. At least several dozen coins are known, mostly higher range circulated levels and lower range Mint State designations. All are in great demand and usually sell instantly when offered. The date on the circulation strikes is placed slightly differently from that on the Proofs, farther to the left, with the 8 centered under the B (J.B.L.), while on the Proofs the center of the 8 is ever so slightly to the right. The date is lower than on the Proofs. Pop 10; 7 finer, 3 in 61, 2 in 62, 2 in 63 (PCGS # 9003) .
Estimated Value $30,000 - 40,000.
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| Realized $43,700 |
