Lot 1823
1894-S $20 Liberty. PCGS graded MS-63 CAC Approved. Delicately toned with good eye-appeal and shimmering frost. A well struck coin from the 1890s decade, one in which, oddly enough, gold market panics gyrated back and forth across the US, England and Europe. It got so bad in 1894-95 the the US Treasury was in danger of breaking below its required gold bullion reserve requirement. The powerful banker, J.P. Morgan kindly informed the Treasury Secretary that the law allowed the Treasury to issue gold bonds (IOUs) to acquire the needed supply of the metal. Which was done, thus lessening the market-upsetting conditions. This handsome 1894-S Twenty stands as mute testominy to that long-forgotten crisis in American monetary history (PCGS # 9026) .
Estimated Value $2,000 - 2,100.
The Arden Collection.
|
| |
| Realized $2,760 |
