Lot 4754
1850 $20 Liberty. PCGS graded MS-62 PQ. Lovely golden toning. Well struck and choice for the grade. The first date in the double eagle series and a lustrous Type 1 specimen from the Philadelphia Mint. Like the 1907 $20, a popular first-year issue for Type Set buyers, the 1850 was produced in large numbers (slightly over a million). The question is, how many were used in the commerce? The answer seems to be, the majority. Had this not been so, the grading census would show a more crowded amount than it does. It appears that most examples found in collections today are confined to the Extremely Fine and About Uncirculated grades. Mint States, even average baggy ones, are elusive. The present specimen is typically bright and frosty with bold striking details on the main devices. Both sides are bathed in warm golden color with a subtle overlays. There are a few tiny marks here and there but nothing material. Broadminded collectors will find this a desirable example, therefore, of James Longacre's initial No Motto $20 gold format. Pop 22; 8 finer; 7 in 63; 1 in 64. (PCGS # 8902) .
Estimated Value $28,000 - 30,000.
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