Lot 1690
1850. NGC graded AU-58. Well struck and lightly toned. In an old style NGC holder. The Double Eagles, whose net gold content is .9675 of an ounce, actually weigh more than an ounce, because they have a bit of copper alloy in them to make them tough and not easy to damage. At the time they were current (1850-1933) the gold "standard" equated to $20.67 per ounce.
The 1850 double eagle is readily available in circulated grades, typically Very Fine or Extremely Fine, with only an occasional About Uncirculated example on the market. Both the 1850 and 1850-O appear to have circulated widely. In any grade the 1850 has always been in great demand as the first year of issue. (A few dozen Mint quality pieces are also known, but are quite expensive.)
Abundant luster remains on the warm gold but still satin surfaces, luster like the sparkle off an imperial sword waving in the air. Clear-cut devices point to it having been giving a full strike by the dies as well, something most in evident on this first-year issue. On some following issues, the strike tends to decline. But on this initial year, the design is deeply impressed by the dies. Pop 120; 79 finer (PCGS # 8902) .
Estimated Value $7,000 - 7,500.
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