1875-S $20 MS(PCGS#8975)

June 2021 U.S. Coins Auction

拍卖行

Stack's Bowers

批号

2580

等级

MS64+

价格

422,337

详细说明

High Condition Census 1875-S Double Eagle 1875-S Liberty Head Double Eagle. MS-64+ (PCGS). This impressive coin offers truly memorable quality and eye appeal for a Type II Liberty Head double eagle. Serene surfaces are expertly preserved and very close to a full Gem Mint State rating. The luster is full and vibrant in a soft satin texture, and the surfaces are enhanced by vivid mint orange color. Thoroughly PQ, and equally well suited for a high grade gold type set or advanced double eagle collection. San Francisco was a perfect destination for bullion from the Comstock Lode and the gold fields of California, as well as from around the Pacific Rim. By the late 1860s it became apparent to Treasury officials that the first San Francisco Mint building was not able to handle the steadily increasing volume of incoming bullion. In 1869, the government located a site at Fifth and Mission Streets and by the end of 1874, the "Granite Lady" was ready and equipment from the old mint was moved into the new building. Limited coinage operations began in December. The production of most gold denominations in 1875 was minuscule and includes some notable numismatic rarities. Only the double eagle was coined in any significant quantities at Philadelphia, Carson City, and San Francisco, and then almost entirely to satisfy foreign demand for the denomination. The newly built San Francisco Mint coined 1,230,000 double eagles that year. Many 1875-S double eagles made their way to mostly European banks and treasuries soon after production; even those that went into circulation often ended up in sacks for overseas transport in later years. The coins were moved around receiving a wide range of scrapes, dings, abrasions, and other forms of damage. Those that remained in the United States later ended up in the Mint's furnaces during the extensive melting that took place after the Presidential Gold Surrender Order in 1933. When 1875-S double eagles that had been shipped overseas returned in the 20th century, a significant number were in Uncirculated grades. Several thousand 1875-S double eagles are believed to exist, with 1,000 to 1,500 in Mint State, almost all between MS-60 and MS-62 and seldom any finer. At the MS-63 level, the issue is extremely scarce and at MS-64 it is a formidable condition rarity. The Pogue Collection Superb Gem 1875-S is the finest known for the issue. At CC#2 is the MS-64+ offered here, along with a second example in PCGS MS-64+. This important coin entered the numismatic market as part of the famous Saddle Ridge Hoard. One of the most significant gold coin finds of recent decades, the Saddle Ridge Hoard was discovered in 2013 in the Sierra Nevada Mountains east of San Francisco. A couple were out enjoying a February walk with their dog on a trail that ran along the ridge when they spotted a metal can near an old tree. Digging with a stick, they uncovered a sealed can they originally thought was full of lead paint due to the weight. They brought it back to their residence where they found it was full of double eagles. They returned to the find site, this time armed with a metal detector. All told, the property owners found 1,427 coins contained in six cans totaling $27,980 in face value. Preferring to remain anonymous, the finders carefully reburied the coins then contacted Tiburon, California coin dealer Donald Kagin, whose firm helped evaluate the hoard and arrange for conservation as well as the eventual disposition of those pieces not retained by the family as mementos. The coins first became available for sale through Kagin's and Amazon.com the evening of May 27, 2014, and within 72 hours, half were sold. The hoard contained coins ranging in date from 1847 to 1894 in varying states of preservation, with all but 54 pieces being double eagles. Among those, some 416 1889-S double eagles were found, comprising the vast majority of the issues recorded. Almost all of the coins were from the San Francisco Mint, indicating that they were obtained locally, with a few stragglers, including a scarce 1849-D half eagle and an 1847-O eagle. Many Mint State coins were uncovered, including rarities such as the finest known 1866-S No Motto double eagle. Speculation as to the origins of the hoard has included attributing the coins to the 1901 theft of $30,000 in gold from the San Francisco Mint, although mint officials have determined that there is no connection between the hoard and that theft. Regardless of its origins, the Saddle Ridge Hoard will go down in the annals of numismatic and treasure hunting lore as the largest such find of buried gold ever found in the United States. This lovely near-Gem from the Saddle Ridge Hoard is one of the finest 1875-S double eagles known. A highlight of the extensive gold offerings in this sale, it would serve with distinction in even the finest numismatic cabinet. Provenance: Ex Saddle Ridge Hoard; Heritage's sale of the Johnson Family Collection of Rare $20 Liberties, April 2020 CSNS Signature Auction, lot 4664. PCGS Population: 2; with a single MS-67 finer. PCGS# 8975. NGC ID: 26AU. Click here for certification details from PCGS. Click here to see Coins in Motion.[“Coins]