LOT Heritage Rare Coin Galleries  /  2007 Signature Coin - Charlotte, NC #432  / 

2291

1884-S $20 MS65 PCGS. A flashy phenom, this is a coin

Currency:USD Category:Coins & Paper Money / US Coins Start Price:5.00 USD Estimated At:1.00 - 1,000,000.00 USD
1884-S $20 MS65 PCGS. A flashy phenom, this is a coin
<B>1884-S $20 MS65 PCGS.</B></I> A flashy phenom, this is a coin that just should not exist, yet here it is: a strictly graded Gem S-mint Type Three Liberty double eagle, a coin that is conditionally rare not only as a date but as a S-mint of the <I>entire subtype.</B></I> Excluding the ubiquitous 1904-S issue, a total of only 40 S-mint Type Threes have achieved an MS65 grade at PCGS. In the June 11, 2004, monthly supplement of the <I>Coin Dealer Newsletter,</B></I> gold coin expert Mike Fuljenz wrote an extensive article titled "Top 10 Reasons To Own 'S' Mint $20 Liberties." Commenting specifically about the Type Three S-mint Liberty double eagles (the With Motto pieces having TWENTY DOLLARS spelled out on the reverse) minted from 1877-S to 1907-S, Fuljenz made cogent observations concerning the 1884-S as an issue: "Original mintage figure is more than ten times greater than 1884-CC, yet surprisingly, the 1884-S is actually almost as rare in total number of pieces still existing. Strike is very bold. Excellent luster with frosty texture. Scarce in MS-63, and still very rare in MS-64 or higher."<BR> The current combined NGC/PCGS population data show a total of 2311 <I>submission events,</B></I> (to hijack Bowers' term) of the 1884-CC, versus 3609 submissions of the 1884-S. Assuming that both issues are resubmitted in equal proportions, the 1884-CC is clearly rarer. On the other hand, the retail price differential from MS62 to MS63 for the 1884-CC is about 3x, while the differential for the 1884-S from MS62 to MS63 is about 5x--considerably more incentive for a "crackout artist" to resubmit high-end 1884-S coins in hope of achieving an upgrade--and perhaps confirmation of Fuljenz's argument. (However, we stress that this discussion of "crackout" potential is to explain why two issues for which similar rarity is claimed might lead to greater resubmissions in some of the lower Mint State grades for one over the other, thereby increasing the population quantities, and it applies only to the most frequently encountered Mint State levels--not to a rock-solid Gem such as the present piece.) Regardless of the actual number of coins existing, the two issues skew differently in terms of grade. The average 1884-CC piece grades AU50 or so, while the average 1884-S grades in the neighborhood of MS61+. PCGS' online price guide lists a value for the 1884-CC only up to MS63, and for the 1884-S only up to MS64. The inescapable fact remains that <I>the present coin is the single finest graded example at PCGS, and tied with four coins so graded at NGC (one of them rating the Star designation) (2/07).</B></I> As we earlier pointed out, it is one of only 40 Gem S-mint pieces of the entire subtype.<BR> The present piece boasts spectacular two-toned patina with shades of orange-gold around the margins and brighter yellow-gold in the centers. The reverse fields also show a semi-reflectivity that adds even more to the overall appeal of this piece. The devices are fully struck in all areas with bright, intense, frosted mint luster that swirls around each side. There are also no mentionable surface impairments on this magnificent double eagle. For the connoisseur of fine gold who really <I>buys the coin and not the slab,</B></I> or for the Registry Set collector of gold by type or date, this Gem 1884-S is an inescapable choice.<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
Sign In to Bookmark Lot