LOT Old Heritage Auctions  /  2008 February Long Beach Signature Coin #460  / 

2680

1860-O $20 AU58 NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:70,000.00 USD Estimated At:1.00 - 1,000,000.00 USD
1860-O $20 AU58 NGC
<B>1860-O $20 AU58 Prooflike NGC.</B></I> This amazing double eagle is the second finest certified 1860-O double eagle. The only finer one is a single MS60 Prooflike coin recovered in the <I>S.S. Republic </B></I>treasure. The present example is apparently the only other 1860-O that has received the PL designation.<BR> The date is a low-mintage rarity in the Type One Liberty double eagle series, with a production that was limited to just 6,600 coins. It ranks as the fourth or fifth rarest New Orleans double eagle, and it is the third lowest mintage New Orleans twenty. It seems that the entire mintage actually entered circulation explaining the low average grade of survivors. The average certified grade is just below AU50, and the average includes those higher grade coins that have been resubmitted. NGC and PCGS have graded a total of 105 submissions, yet Garrett and Guth suggest the total number of survivors is less than 100 coins.<BR> This beauty has rich green-gold surfaces with fully prooflike fields and sharp devices. The fields are lightly scuffed, but lack the heavy abrasions or bagmarks that usually plague the date. Only a slight trace of highpoint wear on each side preclude a full Mint State grade. The prooflike fields of this piece suggest that it is an early die state, among the first pieces that were coined. Indeed, there is no indication of die cracks, clash marks, lapping, or other characteristics that suggest a later strike. <BR><BR><B>Coin Engraver:</B> James B. Longacre<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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