Lot 1732
PCGS Graded AU 50 1860-O $20 Gold Rarity. PCGS graded AU-50. We are proud to present this lovely 1860-O rarity in high grade. PCGS has graded a total of 39 coins to date, no doubt some of these are resubmittals, so the actual number is probably less. None have been seen in full Mint State as of yet. Only 5 have been graded this high, with a total of 10 graded in slightly higher grades of About Uncirculated by PCGS. That makes this tied at the lower end of the twelve coin Condition Census for the date.
Frosty luster in the fields is still present near the devices, and the strike is about average for the date, somewhat weak on the stars, but full on the central devices. Mintage trickled in at 6,600 for the year from this Mint, no doubt virtually all from California gold shipped in from the San Francisco port through the Panama hand-off (the canal wasn't built for decades to come). Cargo was shipped from San Francisco to Panama, off-loaded and hauled by train or mule to the Atlantic side of Panama, reloaded and shipped up to the United States for coining at New Orleans or Philadelphia. As the Civil War was about to burst onto the scene, the few 1860-O double eagles didn't spend time in circulation, they were hoarded, later lost or remelted. Today, the population is likely between 50 and 100 coins, most of which are in lower grades.
Although it is not clear in the Breen Encyclopedia the reverse master hub must have finally been changed in 1860, which is the final time we see the broken center bar in the A of STATES. The A on this coin does not appear to be touched up by the die engraver, but appears normal, whereas on the 1859-O just offered, the A has been touched up. This must be an earlier die state as the reverse die crack is not present through the E of UNITED to the eagle's wing as mentioned in the Bass Sale from October on that example of the 1860-O. An opportunity for the date collector to put aside one of the classic rare ones in choice condition.
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| Realized $13,225 |
