Lot 1579
1850 $20 Liberty. PCGS graded MS-62. Lovely golden toning. Well struck and choice. Not ot overemphasize the obvious, but this is an impressive Mint State with brilliant, frosted luster and lively toning highlights. Representative strike for the date, as well, this being the first year of issue, throughly detailed at the head and stars and across the reverse; definitely choice where objective quality is concerned. Pop 23; 8 finer, 7 in 63, 1 in 64 (PCGS # 8902) .
The Double Eagles, whose net gold content is 0.9675 of an ounce, actually weigh more than an ounce, because they have 10% copper alloy by weight in them to make them tough and not easy to damage in circulation. At the time they were current (1850-1933) the gold "standard" equated to $20.67 per ounce.
The 1850 date is readily available in circulated grades, typically Very Fine or Extremely Fine, with occasional About Uncirculated examples on the market. Both the 1850 and 1850-O seem 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 State pieces are known, that is all.
Estimated Value $25,000 - 27,000.
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| Realized $25,300 |
