Lot 1957
1850. PCGS graded AU-50. Highly toned with some luster evident. Much lighter surface abrasions than usual for this often heavily dented early issue. Indeed, the coin is surprisingly well above average. The Double Eagle, whose net gold content is .9675 of an ounce, actually weighs more than an ounce, because it has a 10% copper alloy added to toughen the metal and protect from abrasion. At the time these were current (1850-1933) the gold "standard" equated to one gold ounce to $20.67 in paper dollars per ounce.
The 1850 double eagle, first year in production, is available with no trouble in (typically) baggy circulated grades; these tend to be seen Very Fine or Extremely Fine, with occasional abraded About Uncirculated examples on the market. Both the 1850 and 1850-O must have circulated widely. In any grade the 1850 has always experienced strong collector demand. A few dozen Mint State pieces are known (PCGS # 8902) .
Estimated Value $3,500 - 3,800.
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| Realized $4,818 |
