Double Eagles - Lots 1736-1789
The Harry W. Bass, Jr. Collection - Part II
Double Eagles - Lots 1736-1789
Lustrous 1860 $20
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1736 1860 MS-61 (PCGS). Lustrous and beautiful, a gorgeous Mint State example of an issue which is plentiful in lower grades but which is certainly a rarity at the present level. In addition to its numerical designation, the piece has a generous amount of eye appeal–which can be said of nearly every coin that Harry Bass purchased. Walter Breen notes, "very rare Uncirculated."
Date logotype high and close to bust. Reverse with cracks through ATES OF AMER.
Purchased from Carl Scheinberg, January 7, 1973.
1737 1860 AU-55. A nice example of the date and type.
Date logotype very slightly low. Lower left serif of 1 diagonally truncated. Slight amount of extra material (from repunching) at lower right outside of 0.
From Stack’s sale of the DiBello Collection, May 1970, Lot 1220.
Remarkable Quality 1860-O $20
None Finer Certified
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1738 1860-O AU-55 (PCGS). Bright yellow gold, no doubt indicating striking from California metal. The obverse is partially prooflike but with much less lustre in protected areas. The reverse has a larger amount of prooflike surface. Only 6,600 pieces were minted, most of which have been lost. Those that survive are generally in significantly lower grades than the coin offered here. The present coin has only one peer in the PCGS survey.
PCGS Population: 2; none finer.
Obverse with date logotype slightly low. Reverse with A (STATES) expertly patched and appearing almost normal. Crack from border through E (UNITED) to eagle’s wing on the left. A light crack is intermittent through STATES OF. While our notes of the die states, etc., of double eagles is probably of interest only to a small fraction of potential buyers, the Bass Collection does provide the opportunity to study details among multiple coins in numbers that usually are not seen in a single cabinet.
Purchased from Stephen Tebo, March 27, 1969.
Memorable 1860-S
$20
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1739 1860-S AU-58 (PCGS). Lustrous and beautiful, one of the nicest 1860-S $20 pieces we have ever seen. This date was not represented in any hoards or caches of which we have personal knowledge, although Walter Breen mentions a "Northern California" group of which he must have been aware. The 1860-S is normally encountered only in lower grades, and heavily bagmarked. In any event, the present specimen is very rare and desirable today, as few equivalent pieces exist in all of numismatics.
Date logotype high. Reverse with large mintmark, closer to eagle than to letter. A (STATES) patched with a horizontal bar in slightly lower relief than other elements.
From Stack’s sale of the Miles Collection, October 1968, Lot 852.
1740 1860-S EF-45. Light yellow gold surfaces. Lustre in protected areas.
Date about three times closer to the truncation than to the dentils. Very slight repunching at left side of first two digits. Reverse with delicate cracks through bases of letters beginning with F (OF) continuing clockwise to D (TWENTY D).
Purchased from Roth, December 2, 1969.
Choice Proof 1861 $20
Akers: "Rarest U.S. Proof Gold Coin"
PCGS: Finest Graded
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1741 1861 Proof-64 (PCGS). A glittering cameo specimen with frosty devices set against deep mirror fields, the latter having the popular "orange peel" surface characteristic of gold coins of the 19th century. A fantastic rarity, a joy to behold, a piece that is high in quality among the very few known to exist.
David Akers, in cataloguing this identical specimen in 1984, made several statements which are certainly worth quoting here, the most dramatic being the following: "The 1861 Proof double eagle is probably the rarest U.S. Proof gold coin after 1858...One of only two different specimens to be sold at auction in nearly four decades."
Although the number of Proofs minted is stated as 66 pieces in the literature, this is either a gross error, or many were melted. The latter seems to be at least part of the answer, as subsequently discussed.
In his 1979 (updated in 1989) Encyclopedia of U.S. and Colonial Proof Coins 1722-1989, Walter Breen was able to track down just five appearances, including the piece in the Mint Collection in the Smithsonian Institute. Breen further noted that "All the gold Proofs were delivered April 5…some of these remained unsold…and the unsold coins were sent down to the melter and refiner in January 1862."
It is further notable that Louis E. Eliasberg, Sr., who possessed a beautiful run of lovely Proof double eagles, did not have an example of the 1861 date. Although no records are known, one can speculate that 66 pieces may have been struck to await potential buyers, most probably because it was an effort to create the dies, set the presses up, etc., and it was easy to produce several dozen examples at once–but that the buyers never arrived. How many found buyers is a matter of conjecture, but it would not strain credulity to suggest that perhaps no more than 10 to 12 were ever sold. Indeed, reviewing files of 19th-century auction catalogues it would be difficult to name even this many numismatists who are known to have collected Proof double eagles by date. By any evaluation, the present Proof 1861 is a numismatic landmark, a coin with few equals anywhere in numismatics, a piece that is a highlight of the present section of the sale.
PCGS Population: 1; none finer.
Purchased from the Goliad Corporation, August 1984. Immediately earlier, from Paramount’s section of Auction ‘84, July 25, 1984, Lot 965.
Wonderful Gem 1861 $20
Business Strike
High Condition Census
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1742 1861 MS-65 (PCGS). A wonderful specimen with satiny, creamy mint lustre on obverse and reverse, virtually a presentation coin, certainly a showpiece. While the 1861 $20 is the only date of the first two or three years of the 1860s that comes to market in Mint State with any degree of frequency, only a handful can be called true gems. This is one.
For the type collector, for the connoisseur, for the double eagle specialist, the present piece will be a treasure to own.
PCGS Population: 3; 1 finer (MS-67).
Date logotype high, with 1 about three times closer to the neck truncation than to the dentils. The master die was impressed very deeply into the working die, raising all of the details excellently, and even allowing for an extra area on the neck truncation below J.B.L.
On both obverse and reverse not a crack is in sight. One might imagine that this was a very early striking from the die pair.
Purchased from the Goliad Corporation, October 30, 1972.
Another Splendid
1861 $20
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1743 1861 MS-63 (PCGS). Brilliant, lustrous, and frosty. A nice companion to the preceding.
PCGS Population: 9; 4 finer (MS-67 finest).
The obverse is from a different die than the preceding and is characterized by having the date logotype slightly low. Again, the working die was boldly impressed, creating a wealth of detail.
On the reverse a barely perceptible die crack links the tops of MER (AMERICA).
From Stack’s sale of the Alto Collection, December 1970, Lot 419.
Another Mint State
1861 $20
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1744 1861 MS-62 (PCGS). Brilliant and lustrous. A very attractive example of this popular date, one we handled 27 years ago (how time flies!).
Date logotype closer to the neck than to the dentils. Reverse with somewhat crudely and heavily patched A (STATES).
From our sale of the Armand Champa Collection, May 1972, Lot 558.
Prooflike 1861 $20
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1745 1861 MS-61 (PCGS). A splendid specimen, nicer than usually seen, of this fairly plentiful date. Most other Mint State coins are frosty overall, with little if any prooflike surface; the present piece is an exception.
Date logotype is slightly closer to the dentils than to the bust.
A (STATES) patched by a heavy bar which extends slightly beyond the left side of the letter.
From Quality Sales Corporation’s offering of the Beck Collection, February 1976, Lot 547.
Final Mint State 1861 $20
1746 1861 MS-60. A lustrous coin of great beauty, as this date often is found. The reverse, if graded separately, would merit a point or two higher.
Date logotype high; over twice as close to the neck truncation as to the dentils. Reverse with hairline crack through tops of letters in UNITED STATES; separate crack connecting F (OF) and nearby A.
Purchased from the Goliad Corporation, December 16, 1971.
1747 1861 AU-58. Lustrous light yellow gold.
Date centered.
Purchased from Dan Brown, December 5, 1967.
1748 1861 AU-55. Much lustre still remains, particularly on the reverse.
Date centered. Reverse with track linking ES (STATES); two unconnected cracks at space between O (OF) and F.
Purchased from Rarcoa, December 6, 1971.
1749 1861 AU-50. Lustrous yellow gold with pleasing brilliance. Some light die polish lines are noted in the reverse fields, as struck. A trace of rim damage is noted on the reverse at 2:30, a minor distraction.
Date very high; about three times closer to bust than to dentils. Crack from border between stars 4 and 5. Reverse with tiny crack from border down to D (UNITED).
Over 100 die pairs were used to produce the 1861 Philadelphia Mint coinage, an array so extensive that it would never be possible to catalogue them all. The notes included here are simply for general interest and are similar to comments that Harry Bass jotted down during his ownership of the pieces.
Purchased from the Goliad Corporation, March 15, 1972.
1750 Trio of double eagles: I 1861 VF-35 I 1864 VF-35 I 1864-S VF-30. (Total: 3 pieces)
Key 1861-O $20
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1751 1861-O AU-50 (PCGS). Bagmarks on obverse and reverse, not particularly unusual for the variety and grade. Somewhat lightly struck overall, again not unusual for 1861-O. Long regarded as a key date, the variety is among the more elusive of its era.
Three pairs of dies were shipped to New Orleans from Philadelphia on December 10, 1860, during the same period in which the Confederate States of America government was in its formative stages. Only one pair was ever used. It is believed (cf. Breen) that the mintage of 17,741 pieces was comprised of 5,000 examples for the Union, plus 9,750 struck when the city of New Orleans was occupied by troops from Louisiana. Finally, 2,991 are believed to have been struck slightly later when Confederate troops were in charge. For about a year, New Orleans was held by Southern forces. Later it was "liberated" and controlled under General Benjamin Butler, of whom many stories have been told. Some called him "Spoons Butler," as he stole or requisitioned silverware from local inhabitants. To the victor went the spoils, and apparently Butler and his men took maximum advantage. Later, seeking to have the last word concerning his service and reputation, Butler wrote extensively of his life and the occupation of the city.
Today the 1861-O $20 is one of the more popular issues of its era, from the aspect of rarity and also its historical connection. Logotype high and about three times closer to the bust than to the dentils. On the reverse the O is high and nearly touches the feathers. If a late die state of the 1861-O were to be discovered, with breaks, it could be assumed that it was struck by the Confederacy or, at least, by forces from Louisiana.
From Stack’s sale of May 1968, Lot 931.
1752 1861-S AU-55. Very brilliant and highly lustrous. The reverse has nearly full mint frost.
Date centered. Punched into the die at medium depth, neither light nor heavy. On the obverse, a crack links stars one and two; another crack links stars 10-13.
From Stack’s sale of August 1976, Lot 3205.
1753 1861-S EF-45. Some lustre remains in protected areas, particularly on the reverse. A high-grade example of this popular issue, quite affordable in today’s market.
Date logotype slightly high. Crack links stars 10-12. Some clash marks behind hair. Reverse with delicate clash marks, especially below eagle’s wing to the right and from the tail feathers extending right to below UNUM. Crack at left border from T (TWENTY) clockwise through UN.
Purchased from the Goliad Corporation, April 15, 1972.
Grouping of Liberty Head $20s
1754 Offering of eight different Liberty Head double eagles, mostly of the scarce Type II design: I 1861-S VF-35, cleaned I 1871-S VF-35 I 1872-S EF-45 I 1873-S Closed 3. VF-35 I 1873-S Open 3. VF-35 I 1874-S EF-45 I 1875-S AU-50 I 1876-S AU-53, light rim bumps. All with some mint lustre, save the 1861-S. This offering includes quite a few of the scarcer Type II design used 1866-1876 and thus is of more than passing interest. (Total: 8 pieces)
Lustrous High-Grade 1862 $20
Condition Census
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1755 1862 AU-55 (PCGS). Quite lustrous, but at the same time extensively bagmarked, the latter being evidence of use in commerce or being jostled about in storage. Very scarce in high AU or low Mint State grade. The present piece is quite significant in this context.
PCGS Population: 2; 4 finer (MS-62 finest).
Date logotype very high. On the reverse, the A (STATES) appears perfect.
Just an idea: It could have been that for the master die or hub used to make this general issue, the letter V was used in the different A’s on the reverse, these appearing in STATES and also AMERICA. A close examination of the two A’s in AMERICA will reveal that each has a different crossbar. If a V were used in an inverted position and the crossbars added, this would explain the variations. There are other instances in American coinage in which inverted V’s have been used to create A’s, and on a pattern $5 gold coin, an inverted A was used in place of a V.
From Stack’s sale of the Miles Collection, October 1968, Lot 856.
1756 1862 EF-45. Light yellow gold. Somewhat prooflike.
Date slightly below center. Reverse with patched A (STATES).
Purchased from N.K.S., April 28, 1967.
1757 1862-S AU-50. Pleasing light gold surfaces. Much mint lustre remains, particularly on the reverse. Some brush marks and some carbon flecks on the obverse.
Date slightly high. On the reverse, S mintmark leans slightly left. Delicate cracks through NITED; and separately from first S (STATES) clockwise to first A (AMERICA); another crack through ERICA.
Purchased from Roth, December 2, 1969.
1758 1862-S EF-45. Light yellow gold. Some lustre remains in protected areas.
Breen-7214, repunched 86 in date, the 6 in particular showing traces of a significantly lower numeral, but mostly effaced. Date logotype high.
Reverse with crack through tops of OF continuing clockwise to D.
Purchased from Stack’s, May 19, 1971.
Dazzling Proof 1863 $20
A Fantastic Rarity
None Finer Graded
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1759 1863 Proof-64 (PCGS). A dazzling specimen of rare beauty, combining a high technical grade with an absolutely gorgeous appearance–an American classic in every sense of the word. Another highlight from the Bass Collection.
The Proof mintage is posted at 30 pieces, but it is likely that only about 10 or so could be traced today, two of these in museum collections and at least three or four others with notable impairments. As is true of all Proof $20 pieces, certification data are of no help due to multiple appearances of the same specimens. We suggest that perhaps sales in 1863 amounted to no more than 15 to 20 coins. No doubt, some of these were purchased by citizens who simply wanted to own $20 pieces in an era in which such coins were not seen in circulation. Proofs were obtainable at the Mint, but had to be paid for in gold coins (only obtainable from a bullion dealer) or at a premium in terms of "greenback" notes. While this is pure speculation, the purchase of coins by non-numismatists would account for the number of cleaned and impaired pieces known today.
In addition to the advantages that the present Proof has as a high-grade rarity, it is important as one of relatively few Proof $20 coins remaining from the early span of the series, 1850-1865, without motto. Thus, anyone desiring a coin for a type set would do well to consider this piece. And, of course, the specialist will automatically become attracted!
PCGS Population: 3; none finer.
On the obverse the date logotype is far to the right of the normal position, spectacularly so as will be quickly revealed by noting in the photograph the position of the final digit, 3, with the lowest loop of the hair. Actually, this is a more "comfortable" position for the date than the normal position to the far left. (In 1877 the obverse was reconfigured, the position orientation of the head of Miss Liberty were altered somewhat, and more space was given between the neck and the dentils; as a result, $20 pieces 1877-1907 do not have the "space problem" seen in the earlier years.) Within the context of the date, noting the position as mentioned, the numerals are fairly high, with the 1 being closer to the neck truncation than to the dentils.
From Stack’s sale of the DiBello Collection, May 1970, Lot 1224.
1760 1863 EF-45. Bright and slightly prooflike. Very attractive. Again we note that the Bass Collection coins are virtually all excellent examples at their particular grade levels–whether the grades be worn or Mint State.
Date left and high. Final digit centered below low part of curl.
Purchased from Stack’s, December 7, 1971.
1761 1863 VF-35. Pale gold surfaces.
Date left (normal position) and slightly low. Planchet flakes are seen near the first digit of the date.
Purchased from N.K.S., January 10, 1968.
Frosty 1863-S $20
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1762 1863-S AU-58 (PCGS). Frosty and lustrous. A very attractive example of this popular San Francisco date.
Date logotype slightly low. Minute crack through 63. Reverse with A (STATES) normal. Peripheral cracks at tops of letters at several different positions.
From Stack’s sale of the Miles Collection, October 1968, Lot 859.
1763 1863-S AU-53. Frosty and lustrous. A beautiful example somewhat reminiscent of the attractive pieces that were recovered from the S.S. Brother Jonathan, but this particular coin was in numismatic hands long before that find.
Date logotype slightly low. Crack from border through bases of 186. Reverse with small S mintmark, Breen-7217, noted as "rare." Discontinuous peripheral cracks from second T (STATES) through lettering clockwise to E (TWENTY). Coins with the small S mintmark seem to have been but a fraction of the San Francisco Mint output this year.
From Stack’s sale of the Copeland Collection, April 1967, Lot 1906.
1764 1863-S AU-50. Lustrous and frosty. A splendid coin.
Date centered. Reverse with medium S mintmark, normal for the date. Crack through tops of MERI.
Puchased from Rowe & Brownlee, June 27, 1968.
1765 1863-S EF-45. Another attractive example of this popular San Francisco variety.
Date low. Reverse with medium S mintmark. Delicate crack through MER (AMERICA).
From Superior’s sale of September 1973, Lot 851.
Magnificent Proof 1864 $20
Fantastic Rarity
None Finer Graded
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1766 1864 Proof-64 (PCGS). Another simply amazing quality Proof, combining high numerical grade with superb eye appeal. Add to that the concept of extreme rarity, and again we have a great classic. It may be a long time until an equivalent offering of Proofs reaches the marketplace. The connoisseur and specialist would do well to "reach" to acquire this and related examples.
The mintage of the 1864 is recorded at 50 pieces, but conventional wisdom, which we share, has it that no more than a dozen exist today. Of these, one is in the Smithsonian Institution and another in the American Numismatic Society collection, thus removing these from market consideration. Still others are impaired. In 1864 it was a difficult matter to obtain Proof gold coins from the Mint (see our notes under 1863), and thus it is likely that no more than 20 pieces ever found buyers.
PCGS Population: 4; none finer. Perhaps some of these represent resubmissions.
From Stack’s sale of the DiBello Collection, May 1970, Lot 1226.
1767 1864 AU-50. Light yellow gold. Some mint lustre in protected areas, particularly on the reverse.
Date very high and close to truncation. Logotype this year with widely spaced 8 and 6. On this particular coin, a tiny crack links the 6 and 4. On the reverse, intermittent cracks are seen from the second S (STATES) clockwise through AMER.
Purchased from N.K.S., June 14, 1967.
1768 1864 AU-50. Light yellow gold.
Date high, about three times closer to the truncation than to the dentils. Reverse with patched A (STATES).
Purchased from I. Kleinman, October 1, 1971.
1769 1864 EF-45. Light yellow gold. Another attractive example.
Date logotype high, about twice as close to the truncation as to the dentils. Reverse with patched A (STATES).
From Glendining’s sale of October 1970, Lot 048; acquired by Rowe & Brownlee, later sold to Harry Bass.
1770 1865 AU-55. Frosty and lustrous. Not far from Mint State. In fact, the reverse challenges the MS-60 level.
Date slightly high and far left. Logotype deeply impressed into working die. Reverse with some diagonal die striae, oriented from upper right to lower left, about the opposite direction as typically seen. No doubt an early striking from the die. Patched A (STATES).
Purchased from Ed Shapiro, March 31, 1969.
1771 1865 AU-50. Another attractive example.
Date logotype left and fairly high. Some clash marks at center of Miss Liberty’s head and behind hair. Reverse with patched A (STATES). Irregular cracks from OF clockwise to nearby A, almost to M.
Purchased from Lester Merkin, January 22, 1968.
Blundered Date 1865 $20
Dramatic Error
1772 1865 AU-50. A very interesting specimen of this date, one with a curious repunching as described below. Attractive and lustrous.
Date very high, nearly touching truncation, and dramatically repunched, one of the most startling repunchings in the series. No doubt if Walter Breen had seen this variety it would have merited a separate entry in his magnificent Encyclopedia. The first punch of the logotype was far too high, with the peak of the 1 deeply embedded in the neck of Miss Liberty, sufficiently so that this piece could be called a blundered die, giving it a status greater than a simple repunching.
Reverse with patched A (STATES). Crack through top of STATES; another crack through OF AMERIC.
As described, the present piece is extremely interesting from a technical viewpoint. The double eagle specialist will want to linger while viewing it.
From Quality Sales Corporation’s sale of November 1972, Lot 1302.
1773 1865 EF-45. Medium yellow gold.
Blundered date as earlier described, another specimen of an issue that may well be rare. In the present instance, Harry Bass looked intensely and long for varieties that interested him, and who knows how many dozens of 1865 double eagles he may have seen before acquiring the two pieces offered in the present sale.
Reverse with patched A (STATES). Crack through TATES; separately through OF AMERI. From the same die pair as earlier described for the other blundered date, but the present state being slightly earlier.
Purchased from Lester Merkin, June 15, 1967.
1774 1865-S AU-50. Soft yellow gold with some lustre remaining. Abrasions are noted on the cheek, but still a nice type coin.
Purchased from Julian Leidman, May 30, 1972.
1775 1865-S EF-45. Some lustre remains.
1776 1865-S EF-45. Light yellow gold.
Date logotype punched lightly into the working die; earlier, the working die was rather lightly impressed from the master die, creating some lightness at star points. Crack from border right to star 7-8, continuing toward star 9. Reverse with doubled crossbar in A (STATES), perhaps from being patched twice. Shattered die, with cracks linking most peripheral letters, the only exception being the clockwise area from N (UNITED) clockwise to D in the same word. Massive crack from border to U (UNITED). Another massive crack from border to right side of M (AMERICA). One of the most dramatically shattered dies we have ever seen on any $20 piece, regardless of date or mint. A minting curiosity that should attract a very strong bid from the specialist.
Reverse has medium S mintmark.
Purchased from Ed Shapiro, April 7, 1969.
1777 Trio of double eagles: I 1865-S EF-40. Pale gold surfaces I 1866-S Motto. EF-45. Some mint lustre remains I 1867 MS-60. Somewhat prooflike surfaces, with some obverse tooling. (Total: 3 pieces)
1778 Trio of double eagles: I 1865-S EF-40. Light yellow gold I 1866-S Motto. EF-45. Light yellow gold surfaces I 1867 AU-50. Each displays much lustre. (Total: 3 pieces)
San Francisco Double Eagle Trio
1779 Trio of San Francisco Mint double eagles: I 1865-S VF-35. Light yellow gold. Some lustre remains on the reverse I 1866-S With Motto. EF-40. Brilliant and lustrous I 1867-S EF-45. Much lustre remains on the reverse. (Total: 3 pieces)
1780 Pair of San Francisco Mint $20s: I 1865-S VF-35. Some lustre is seen on the reverse I 1867-S EF-45. Bright and lustrous. The reverse could be graded several points higher. (Total: 2 pieces)
Scarce 1866-S No
Motto $20
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1781 1866-S No Motto. EF-40. Light yellow gold. Some lustre is still seen in protected areas and recesses, particularly on the reverse.
A very attractive example of one of the true scarcities in the series, an issue which is seldom encountered in any grade, and which is at least five to 10 times rarer than the With Motto version of the same mint and date. To our knowledge, no specimens have been represented in Mint State hoards or treasure finds.
Obverse with date slightly high, logotype deep in die. Some clash marks at center. Reverse with small S (as always), somewhat lightly impressed in the die.
New Reverse Hub
In 1866 the reverse hub was changed partway through the year. The differences are numerous and can be readily ascertained under low magnification. Important differences are as follows:
OLD HUB: Large solid ray with truncated top points just past the lower left of first S (STATES).
No ray below second T (STATES).
Four thick rays are between the two heaviest rays on the left side and are below the first S (STATES).
Right side of star above eagle’s eye.
Curl above IB (PLURIBUS) small and distant from U (UNITED).
NEW HUB: Thicker ray with somewhat open center points directly at lower left of S.
Large heavy ray extends to close to left side of base of second T.
Five thin light rays, with rays separating 3-2 are below the F and the space to the right of it.
Star directly over eagle’s eye.
Curl begins over B (PLURIBUS) and is closer to U and slightly to the right of its center.
Among dies of the new hub, the motto IN GOD WE TRUST seems to have been entered by hand on certain early varieties, particularly those dated 1866. Later, IN GOD WE TRUST was made part of the hub itself and thus does not vary. Some notes concerning the motto are given in subsequent listings.
Purchased from Leo A. Young, April 14, 1967.
1782 1866 With Motto. AU-55. Brilliant and lustrous. Quite close to Mint State with the reverse being particularly so.
Date logotype slightly high. Some double outlines to the portrait of Miss Liberty and the stars, probably caused by a slight double punching of the master die into the working die, not by "die chatter," as the latter instance would have resulted in slight doubling of the date as well.
Reverse with delicate crack from border upward to W (TWENTY) continuing slightly to the right toward the feathers; another crack extends from border to between I and T (UNITED), then extending upward, with another crack connecting the bases of TE and the eagle’s wing. A further crack is seen from D through STATE.
In the motto, a line drawn to connect the tops of IN would pass far above the nearby G (GOD).
From Stack’s sale of the Massachusetts Historical Society Collection, October 1970, Lot 871.
1783 1866 With Motto. AU-55. Highly lustrous, particularly on the reverse.
Date logotype fairly high, twice as close to truncation as to dentils.
Reverse with delicate crack beginning at N (UNITED) extending clockwise irregularly to C (AMERICA). On the motto, a line drawn to connect the tops of IN would pass far above the nearby G (GOD); the N is sharply double punched. Apparently the motto was entered by hand. In a recent conversation (August 1999) with Tom DeLorey, Tom advised the cataloguer that he first noted differences in the motto IN GOD WE TRUST a few years ago, and beginning in the mid-1990s these were mentioned in the price catalogue issued by Coin World. Among the Bass coins, at least three different variations are seen in the motto among $20 pieces of the 1866 date.
Purchased from the Goliad Corporation, January 23, 1973.
1784 1866-S With Motto. AU-50. Highly lustrous. The reverse is somewhat prooflike. Fairly well bagmarked, especially on the obverse, this being accounted for in the grade number, and therefore not necessarily needing mention here. In general, the more prooflike a coin is, the more susceptible it is to acquiring bagmarks.
Date logotype high. Reverse with medium S mintmark, differently configured and of larger size than the usual small S style.
Purchased from Lester Merkin, June 23, 1967.
1785 1866-S With Motto. AU-50. Misplaced Date variety, apparently unlisted.
Date slightly low. Stray or misplaced date numeral, seemingly an 8, is seen in the dentils to the left of the 1, apparently unrecorded, but noted by Harry Bass as: "Something in dentils below 1 of date!" Variety unknown to Breen.
Reverse with small mintmark, the only variety listed by Breen (although the medium mintmark exists, as offered in the present sale, and is distinctly different). A line connecting the tops of IN would intersect the upper left of the adjacent G.
Purchased from N.K.S., February 4, 1972.
Brilliant, Lustrous
1867 $20
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1786 1867 MS-61 (PCGS). Especially brilliant and very lustrous. Some bagmarks are consistent with the grade, but are fewer than normally seen for the date and mint. Walter Breen in his Encyclopedia (p. 567) notes, "Philadelphia issues 1866-1872 are mostly scarce, except for the 1867 Uncirculateds, from a hoard (possibly 2,000, found in Europe about 1966, distributed in the USA beginning about 1973)." We have no information concerning this hoard but would suggest that if the number even remotely approached 2,000, examples would be much more plentiful on the market than they are today. In any event, more information would be welcomed, as the editor (QDB) keeps files on old-time hoards. Not withstanding the preceding, it is evident that the coin is from a different source as it was acquired earlier than the hoard’s putative distribution date.
Date logotype in large figures, very close to bust. On the reverse the A (STATES) is perfect, the anomaly seemingly being corrected in the master die by this time.
Purchased from N.K.S., November 7, 1968. Harry Bass kept track of high-grade examples of this year, and noted that in December 1971 another firm offered him an example, but it was "much bagmarked" and in "lesser condition."
High-Quality 1867-S $20
Condition Census
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1787 1867-S AU-58 (PCGS). Brilliant surfaces with nice original mint lustre on both sides. The central details are nicely defined while some softness is noted at the periphery, most obvious in the obverse stars from 2:00 to 5:00. An attractive example of high quality for this particular issue, rarely seen finer. In Scott’s Comprehensive Catalogue and Encyclopedia of U.S. Coins, 1971, author Don Taxay said: "Unknown Uncirculated."
PCGS Population: 8; 4 finer (MS-61 finest).
On the present coin, the date logotype is twice as close to the neck truncation as to the dentils. On the reverse a tiny crack extends from a dentil to the left side of the final A (AMERICA).
Concerning the Taxay catalogue was an effort to effectively succeed the late lamented Standard Catalogues of United States Coins published by Wayte Raymond (later John J. Ford, Jr.) in various editions from the 1930s through the 1950s. Much technical information was included from different sources. A revised edition, by Joseph Rose and Howard Hazelcorn, appeared in 1976. Despite its merits, the new work never caught on, and distribution was limited. In a later era, 1988, Walter Breen’s Complete Encyclopedia of U.S. and Colonial Coins went far beyond Taxay, but, unlike Taxay, included no price listings.
A number of years ago the present editor (Q. David Bowers) had discussions with Kenneth E. Bressett (editor of A Guide Book of United States Coins) concerning the producing of a catalogue with a wealth of technical and historical information plus prices, this being intended for sophisticated collectors. However, Whitman Publishing Company underwent (and later continued to undergo) various corporate changes, ownerships, and policies, and nothing ever came of the matter. Today in 1999 we have too much information all over the place and not enough information in one single, usable, handy form. Thus, the potential for such a work still exists.
From International Gold Corporation, September 11, 1972. Shortly after acquiring this piece, Harry Bass entered in his notes: "Taxay lists that this variety was "unknown Uncirculated." Today, taking into account the grade inflation in some quarters, and also a wider awareness, some low-grade Mint State pieces have been reported. Still, the issue remains rare.
1788 1867-S AU-50. Lustrous and frosty. Some splashes of light toning.
Date slightly high. Reverse with small S mintmark, apparently as always.
Purchased from Lester Merkin, June 15, 1967.
1789 1867-S AU-50. Lustrous and attractive.
Date slightly high.
Source not recorded; probably acquired
in the late 1960s.
