Double Eagles - Lots 845-920
The Harry W. Bass, Jr. Collection - Part III
Double Eagles - Lots 845-920
Desirable 1873-CC Double Eagle
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845 1873-CC AU-55 (PCGS). With a mintage of 22,410 coins, this is clearly one of the scarcer Carson City Mint double eagles. Brilliant orange-gold lustre with a trace of green on the reverse. Moderately abraded as are most coins from this mint. Examples grading better than EF, as the present coin, are few and far between.
Closed 3 in date as always.
Purchased from Lester Merkin, October 1966.
846 1873-S Closed 3. MS-61. Bright yellow gold with sharp design details and few minor surface marks. A delightful example of this relatively available issue.
Several fine die cracks on the obverse through the stars and Miss Liberty. The reverse has several spider web cracks around the legend.
From Parke-Bernet’s sale of the McGraw Collection, May 1968, Lot 49.
Lustrous Group of Double Eagles
847 Group of double eagles grading AU-50: I 1873-S Closed 3. Yellow gold I 1874-S I 1876-S I 1878-S I 1880-S I 1887-S. Each displays orange-gold surfaces except where noted. A very attractive group with much mint lustre present on each specimen, with the reverse of certain specimens closely challenging the Mint State designation. (Total: 6 pieces)
Nearly Mint State Group of $20
848 Half dozen San Francisco double eagles grading AU-58: I 1873-S Open 3 I 1888-S I 1889-S I 1891-S I 1899-S I 1900-S. Each displays lustrous surfaces. Some may even be called Mint State by certain observers. A very high quality group! (Total: 6 pieces)
Lustrous $20 Selection
849 Half dozen AU-55 double eagles: I 1874 I 1890-S I 1895 I 1901 I 1902 I 1905-S. All display lustrous surfaces. (Total: 6 pieces)
Scarce 1874-CC Double Eagle
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850 1874-CC AU-55. Lustrous light greenish yellow gold with very pleasing surfaces, especially for this issue. This example is much better than those typically seen. At this grade level the 1874-CC is quite scarce. The present specimen is finer than that normally encountered.
From Parke-Bernet’s sale of the McGraw Collection, May 1968, Lot 51.
851 1874-CC AU-50. Extensively abraded with reflective light yellow gold surfaces. Still, a very desirable example of this popular issue. A minor imperfection, covered by a splash of deep rose toning, is in the right obverse field.
From Paramount’s sale of February 1971, Lot 1630.
852 1874-S MS-61 (PCGS). Although with a relatively high population of 21 coins, only six finer examples have been graded by PCGS. As such, this specimen qualifies as a rarity among examples of this design type. Brilliant yellow gold lustre with sharp design details, especially on the reverse. Another coin with a fairly nominal market value—perhaps a thousand dollars more or less—but which is among the finest known examples and is very rare on an absolute basis.
Purchased from Lester Merkin, June 15, 1967.
853 1875 MS-60. Lustrous light yellow gold with very pleasing surfaces for the grade. A delightful example for the date or type collector.
This issue is the only readily available gold coin dated 1875 from Philadelphia with a mintage of 295,740. Mintages for the other denominations are: gold dollar: 420; quarter eagle: 420; three-dollar: 20 (or perhaps a few more); half eagle: 220; and eagle: 120.
From Abe Kosoff’s 1968 ANA Sale, Lot 1597.
Mint State 1875-CC Double Eagle
Extreme Eye Appeal
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854 1875-CC MS-62 (PCGS). This is a wonderful example of this popular issue, an ideal candidate for the branch mint type collector. Frosty and highly lustrous with bright yellow gold surfaces. Very slight cameo contrast completes the picture.
Purchased from Julian Leidman, February 18, 1972.
Mint State 1875-CC $20
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855 1875-CC MS-62 (PCGS). This issue is the only readily available Carson City Mint double eagle of this design type. Of course, "readily available" is a relative term. This date has the fifth highest Mint State population of any Type II double eagle. Apparently many of these were exported, as nearly all Mint State examples have been imported back into this country during the last few decades. Bright yellow gold with frosty lustre and exceptional aesthetic appeal.
Purchased from Stanley Kesselman, February 4, 1972.
856 1875-S MS-60. Sharply struck with lustrous light yellow gold surfaces. Readily available, even in lower Mint State grades. Coins such as this provide a great reason to start a specialized collection by date and mint—for there are many lovely varieties available in Mint State for nominal prices, particularly from about this point in time onward.
Purchased from Mal Varner, August 8, 1972.
857 1875-S AU-58. Pleasing quality with lustrous light yellow gold surfaces. Sharply defined and lightly abraded.
Purchased from Stanley Kesselman, March 8, 1972.
858 1876 MS-62 (PCGS). An impressive example from our centennial year, this with lustrous bright orange-gold surfaces and very few marks of any sort. A few faint hairlines are visible upon close inspection and keep this coin from, say, MS-63 or MS-64. Extremely excellent overall quality.
The reverse was from a hub used only very briefly in 1876, and described as the Light Motto hub. A die crack starts at N (TWENTY) runs clockwise to the second T (STATES), another starts at O (OF) and continues to C (AMERICA).
From Stack’s sale of the Bartle Collection, October 1984, Lot 1125.
859 1876 MS-62. Reflective light yellow gold with light surface marks. An attractive cameo example.
Light Motto reverse.
Purchased from the Goliad Corporation, March 15, 1972.
Bargain-Seeker’s $20 Group
860 Selection of double eagles with minor problems of various degrees, an ideal group for the bargain hunter who is not particularly fussy about quality (and, quite a few people feel this way—although relatively few admit it). These were acquired by Harry Bass for the study of their logotypes and other die characteristics: I 1876 Net AU-50; sharpness of AU-58, light obverse scratches I 1876 Net EF-45; sharpness of AU-50, cleaned I 1878-S Net VF-30; sharpness of VF-35, cleaned I 1886 Net EF-45; sharpness of AU-50, lightly cleaned I 1893-S Net AU-55; sharpness of MS-60, cleaned I 1895-S Net EF-45; sharpness of AU-53, brushed I 1902-S Net EF-45; sharpness of AU-50, graffiti removed on obverse field before face of Liberty I 1903-S Net EF-45; sharpness of AU-50, light obverse scratches. (Total: 8 pieces)
Mint State 1876-CC Double Eagle
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861 1876-CC MS-61. Reflective light yellow gold with extensive obverse hairlines, no doubt cleaned in the past. The reverse has been much more carefully handled. Although not nearly as common as the 1875-CC issue in Mint State, this centennial issue from Carson City is still relatively available.
Purchased from Julian Leidman, May 31, 1972.
862 1876-CC AU-58. Reflective light yellow gold with moderate abrasions. Still, prooflike characteristics include attractive cameo contrast.
Fine die crack run through UNITED and another through TWENTY.
From Parke-Bernet’s sale of May 1968, Lot 56.
863 1876-CC AU-55. A delightful example, this with frosty lustre and minor surface marks. Seldom do three examples of a scarce issue such as this appear together for public auction competition. When one stops to consider that three other examples were offered in Part II of the Bass Collection, the scope of this cabinet is noted.
Die crack connects dentil to bust at left of date. Reverse die crack connects TWENTY D. and UNITED to first S (STATES), several other minor die cracks are noted.
Purchased from Julian Leidman, May 30, 1972.
864 1876-S MS-61. Attractive, lustrous, and sharply struck with few minor surface marks.
Interesting varieties can be demonstrated by the mintmark position on the present coin, with the S being located over the T (TWENTY). On the 1876-S that is part of Lot 866, the S mintmark is located over the N.
Purchased from Bob Roth.
Attractive Double Eagle Grouping
865 Grouping of AU-58 double eagles: I 1876-S. Semi-reflective surfaces I 1893. Satiny surfaces I 1895. Lustrous I 1896. Satiny surfaces with splashes of orange I 1898. Satiny green surfaces I 1902. Lustrous with splashes of orange I 1907-S. Lustrous. A very attractive group that will appeal to just about any selective buyer. (Total: 7 pieces)
Another Interesting $20 Lineup
866 Half dozen AU-55 double eagles from the San Francisco Mint: I 1876-S I 1879-S I 1883-S I 1884-S I 1885-S I 1897-S. A few faint copper spots are noted on the reverse. Each displays lustrous yellow surfaces. (Total: 6 pieces)
Memorable 1877 Proof $20 Rarity
A Double Eagle Classic
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867 1877 Proof-64 (PCGS). First year of issue with TWENTY DOLLARS spelled out on the reverse. Although 20 Proofs were struck, today only 11 to 13 are believed to exist. A splendid specimen with deeply frosted devices and mirrored surfaces. A few hairlines can be seen under magnification, three small black spots are visible on the obverse between the 13th star and date.
PCGS Population: 10; none finer.
Beginning in 1877, the head of Miss Liberty was repositioned on the hub. The truncation is now at a considerably higher angle, permitting much more room between the neck and the dentils. Thus, after this point, date placement variations are not as noticeable. As a quick point of reference between the old style and new style, the old style had the point of Miss Liberty’s coronet very close to star 7, while the new hub has the coronet tip centered between stars six and seven. Other differences could be mentioned.
The new reverse hub is a hybrid between the old style and new style hubs discussed under 1876. The motto is light on the 1877 die, and the words IN GOD WE are significantly above TRUST. However, on the new die there are seven thin rays between the eagle’s wing at the upper left and first thick ray, somewhat reminiscent of the old style hub used in early 1876 and before, but differently cut. On the new hub the letters in E PLURIBUS UNUM are much larger than those used earlier. Other differences could be mentioned. To fully appreciate them place an 1876 "Light Motto" hub of the new hub alongside the 1877 and make comparisons.
From Stack’s sale of May 1974, Lot 525.
868 1877-CC AU-50. Lustrous honey gold with much brightness and some prooflike reflectivity in the recessed areas. A scarce date in all grades, one that is typically seen in VF or EF.
Date logotype nicely impressed, 18 close, 877 more widely spaced (the same logotype was used on all dies and mints this year). Top of 1 twice as far from truncation as bottom is from dentils, left edge of lower serif over space between dentils. Reverse CC mintmark tall and well formed, letters lean left, first C slightly lower than second C, less than a letter’s distance between the letters, both over space between Y and D below, second C nearly half over point of upper serif of D below.
Purchased from Stanley Kesselman, August 1, 1969.
Choice Mint State 1877-S $20
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869 1877-S MS-63 (PCGS). A lovely specimen with intense cartwheel lustre and a hint of pale rose iridescence. Although plentiful in worn grades it becomes a rarity in choice Mint State. Few examples of this date can match the quality of the present coin; indeed, this is among the finest specimens of the date graded by PCGS. A pleasing coin for the grade.
PCGS Population: 3; 3 finer (MS-64).
Date logotype nicely impressed. Top of 1 marginally closer to truncation than to dentils, left edge of lower serif over center of dentil. Reverse S mintmark tall and somewhat blob-like at the center, leaning slightly right, over space between Y and D below, right edge of S over point of uppermost serif of D below.
From Stack’s sale of the Alto Collection, December 1970, Lot 442.
870 1877-S MS-62. Brilliant and lustrous, just a few light marks from a finer grade.
Date logotype nicely impressed. Top of 1 marginally farther from truncation than bottom is from dentils, left edge of lower serif over left edge of dentil. Reverse S mintmark tall and somewhat blob-like at the center, upright, centered over space between Y and D below, about equidistant from Y, D, and tailfeathers.
From Parke-Bernet’s sale of May 1968, Lot 60.
871 1877-S AU-55. Honey gold with some mint lustre still remaining. A popular branch mint issue.
Date evenly though somewhat lightly impressed. 1 equidistant, left edge of lower serif over center of dentil. Small S mintmark equidistant from tail feathers above and denomination below, over right side of space between Y and D.
Purchased from Bob Roth, December 2, 1969.
872 1878 MS-62 (PCGS). Lustrous surfaces with some copper toning on the reverse to the right of the tailfeathers.
Struck from a rusted obverse die with many tiny, raised dots around Liberty’s ear. This is a very curious die from a technical viewpoint. In front of Miss Liberty’s ear and also below it is a satiny "field" surface, probably from the entire face of the die—except certain deep recesses—being lapped to remove all traces of the rust (which must have been present in other areas as well).
Date logotype firmly impressed, somewhat heavier at the bottoms of the numerals. 1 slightly closer to truncation than to dentils, left edge of lower serif over center of dentil. AMERICA heavy in reverse die, parts of TWENTY DOLLARS faint.
Purchased from Stanley Kesselman October 25, 1972.
873 1878 MS-61. Lustrous with a few minor marks, still quite nice for the grade.
Date logotype deeply impressed. 1 equidistant, left edge of lower serif over center of dentil. Reverse with light machine doubling at the top legends.
Purchased from Jack L. Klausen April 19, 1969.
1878-CC Double Eagle Rarity
New Die Pair
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874 1878-CC AU-53 (PCGS). Prooflike honey gold surfaces with frosty motifs. A rarity in all grades; only 13,180 examples were struck. When found, the typical example of the date is VF or occasionally EF; at AU or finer, the rarity of the date escalates dramatically.
Previously undescribed die pair, now described here: for easy comparison, it is instructive to examine the plate coins in either the Akers’ or Winter-Cutler references, both of which are of the "regular" die pair, not that offered here:
On the present coin, the date logotype is nearly centered as measured by the 1 (1878), the digit being nearly (but not quite) as close to the neck truncation as to the dentils; on the regular variety the 1 is much closer to the dentils. The mintmark on the present variety was punched in with two separate C letters (as on other double eagles of the era), which on the present coin are more closely spaced than on the regular piece, with the right most C centered over the upper left serif of D (DOLLARS)."
Describing the other variety, the Winter-Cutler reference states that: "The third scarcest Carson City double eagle in terms of overall rarity." The equivalent of Lot 1870 in our sale of Part II of the Harry W. Bass, Jr. Collection (October 1999), and important as such. A splendid opportunity.
1878 four-digit date logotype with 18 closest, 87 widest, and 78 not quite as wide as 87. Lower left serif of 1 heavier than lower right serif, top interior of both 8s slightly smaller than bottom interior, base of second 8 low, numeral leans slightly right; this logotype used on all double eagle dies for all three mints.
Regarding the dies used to coin the present specimen, the following information is pertinent: The Winter-Cutler reference states that "All known examples have a long, thin vertical die scratch on the neck of Liberty close to her hair. This die scratch extends from just below the ear to the truncation. On the reverse there are two small die lumps near the second T in TWENTY. There is also a die scratch below the D in DOLLARS as well as a number of other small die scratches below the value. No significant die varieties are known. The mintmark is widely spaced and placed very slightly to the right with the final C over the middle of the D in DOLLARS."
As noted, the Akers and Winter-Cutler plate coins have the low date, and Lot 1870 in the Bass Collection II sale was also of the low date.
Expanding upon the description of the new die pair offered in the present sale, we note that there is no raised vertical die line on the present coin. There is, however, a noticeable lump, circular in shape, near a dentil just above the 11th obverse star which should serve as a ready diagnostic for the die. On the reverse of the present, in contrast with the standardized variety, there are no die lumps near the second T in TWENTY, nor are there any die lines around the D in DOLLARS. There are certain die markers on the present coin that are worth sharing here. Further die markers could be mentioned: a faint raised die line runs across the middle of the M in AMERICA, while another runs through the top of the E in that word. The top of the I shows what may be repunching (or perhaps another die line), while a sizeable patch of roughness can be seen in the field after the second A. The right side of the S in DOLLARS shows several obvious "spikes" that protrude well into the field in a counterclockwise direction.
From Stack’s sale of the DiBello Collection, May 1970, Lot 1258.
Lustrous Double Eagle Sextette
875 Group of AU-58 double eagles: I 1879 I 1890 Recut 1 I 1894 I 1897 I 1900 I 1904. Each displays attractive and lustrous surfaces. (Total: 6 pieces)
Famous 1879-O Double Eagle
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876 1879-O Net EF-40; sharpness of AU-50, scratches in obverse field. Lustrous honey gold with virtually full prooflike fields. What a spectacular coin this must have been at the time of striking!
Among branch mint $20 coins of this era, the 1879-O stands out for its remarkably low mintage of 2,325 pieces. Further, it is the first coin of the denomination struck at New Orleans since the Confederate States took over the Mint in 1861, as well as the last coin of this denomination struck at New Orleans. From the viewpoint of double eagles mintages of New Orleans, only the 1856-O registers a lower number. Year in and year out, any appearance of an 1879 has been a numismatic event. The vast majority of specimens are in grades significantly lower than the present coin. Of the relatively few that exist, the Bass Collection piece is certainly in the top 10% quality-wise.
Date logotype used on double eagles at all four issuing mints—Philadelphia, New Orleans, San Francisco, and Carson City—this year. 1 in date equidistant from truncation and dentils, left edge of lower serif over center of dentil. Reverse O mintmark small and well formed, slightly closer to tail feathers than D below, right side of O over left edge of upper serif of D.
Purchased from Fred Sweeney April 14, 1972.
Lovely Mint State 1879-S $20
Condition Census
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877 1879-S MS-62 (PCGS). Highly lustrous golden orange with attractive rose toning highlights. Considerably more rare than its mintage figure of more than 1.2 million coins indicates. Choice for the grade.
PCGS Population: 13; 1 finer (MS-63).
Date logotype low, bottom of 1 closer to dentils than top is to truncation, top of 8 weak, appearing "broken." Reverse S mintmark small and nicely shaped, leaning slightly right, over space between Y and D below, closer to the D.
Purchased from Dan Brown, December 11, 1967.
878 1880 AU-58 (PCGS). Satiny honey gold surfaces exhibit attractive orange highlights. Somewhat prooflike. A classic example of the date and grade. Scarce so fine.
Date logotype slightly left, but centered nicely vertically, left edge of lower serif of 1 over space between dentils. A die crack starts at a dentil midway between the final star and the 0 in the date, advancing into the field a considerable distance before forming a "T." The left branch runs downward toward the 0, terminating above that cipher, while the right branch runs upwards, terminating in the field opposite the lowest point of the final star.
Purchased from Julian Leidman, December 7, 1971.
879 1880 AU-53. Lustrous honey gold surfaces show a scattering of tiny ticks. First 8 in date noticeably repunched.
Date logotype noticeably right, 1 equidistant, remnants of the base of an 8 plainly visible below the first 8 in the date. The date logotype was first entered too low in the die, then mostly effaced, after which the date was deeply repunched in a higher position.
Purchased from Stanley Kesselman, November 15, 1968.
880 1881-S MS-61. Lustrous honey gold with a trace of pale rose iridescence. A difficult date to locate in grades finer than that of the present coin.
Date nicely impressed, centered horizontally and vertically, left edge of lower serif of 1 over center of dentil. Reverse S mintmark small and nicely shaped, equidistant from tail feathers above and D below right side of S over point of upper serif of D.
As we contemplate the decade of the 1880s and note that there are several Proof-only varieties—namely 1883, 1884, and 1887—we introduce the collecting rationale that specialists may wish to collect only circulation strikes, thus handily removing these three very rare and quite expensive pieces from their want lists—precisely the same thing that many collectors of early half cents have done with the Proof-only issues of the 1840s.
Purchased from Stanley Kesselman, June 6, 1972.
Mint State 1882-CC $20
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881 1882-CC MS-61 (PCGS). Satiny and highly lustrous honey gold with attractive olive iridescence in the fields. A moderately scarce date in all grades, especially so in Mint State. The present coin would make a pleasing addition to any double eagle collection.
Date logotype nicely impressed, numerals well centered, 1 equidistant, left edge of lower serif over right edge of dentil. Reverse CC mintmark upright, letters closely spaced, first C higher than second C, right side of second C over center of upright of D below.
Purchased from I. Kleinman, October 15, 1971.
882 1882-CC AU-55. Honey gold with frosty motifs and reflective fields. A scattering of tiny ticks is noted, mostly occurring on the obverse.
Date logotype nicely impressed, numerals well-centered, 1 equidistant, left edge of lower serif over center of dentil. Reverse CC mintmark leans slightly left, letters closely spaced, first C lower than second C, right side of second C over center of upright of D below. A faint die crack completely circles the periphery, connecting the tops of UNITED STATES OF AMERICA with the bottoms of TWENTY DOLLARS.
883 1882-S MS-61. Brilliant and lustrous with a touch of frost on the devices. A definite "winner" for the grade.
Date logotype solidly impressed, numerals nicely spaced, 1 equidistant, left edge of lower serif over left edge of dentil. Reverse S mintmark small and blob-like, equidistant from tail feathers and denomination, placed midway between Y and D.
Purchased from I. Kleinman, November 5, 1971.
884 Quartette of AU-50 double eagles: I 1882-S. Semi-reflective surfaces with an edge visible at 9:30 on the obverse I 1887-S. Pale green over lustrous surfaces I 1899-S. Lustrous I 1906-S. Frosty lustre. (Total: 4 pieces)
885 1883-CC AU-58. Attractive honey gold. Sharply struck and highly lustrous. A very nice example of this popular Carson City issue.
Date logotype nicely impressed, placed somewhat to the right, 1 equidistant, left edge of lower serif over space between dentils, roughness noted in lower loop of 3, raised die lines between rim and final two stars. Reverse CC mintmark centrally placed between tail feathers and denomination, over space between Y and D. Roughness in raised ground within both mintmark letters; many raised diagonal lines in vertical stripes of shield. An interesting piece from a die preparation viewpoint.
From Superior’s sale of February 1973, Lot 930.
886 1883-CC AU-50. Attractive honey gold with warm orange highlights. Somewhat prooflike in the fields.
From the same die pair as the preceding lot.
Purchased from Julian Leidman, February 16, 1972.
887 1883-S MS-62. Bright honey gold with strong cartwheel lustre on both surfaces.
Date logotype nicely impressed, 1 equidistant, left edge of lower serif over left edge of dentil. Reverse S mintmark small and somewhat mushy at the center, equidistant from tail feathers and denomination, over space between Y and D, twice as far from Y as D.
From Stack’s sale of October 1970, Lot 889.
888 1883-S MS-62. Frosty and lustrous. A few stray marks are noted, but the overall appeal is quite fine for the grade.
Date logotype nicely impressed, somewhat to right, 1 equidistant, left edge of lower serif over center of dentil. Reverse S mintmark small and well-formed, slightly right of center over space between Y and D.
Purchased from the Goliad Corporation, April 11, 1972.
889 1884-CC AU-58. Lustrous honey gold with olive iridescence in the fields. This popular date is scarce enough to be numismatically enticing, but plentiful enough to be numismatically available. A few stray marks present, but still choice for the grade.
Date logotype nicely impressed, 1 equidistant, left edge of lower serif over left edge of dentil, plain 4 leans slightly right. Reverse CC mintmark large and well-formed, less than a letter’s space between the letters, equidistant from tail feathers and denomination, first C over center of space between Y and D, second C mostly over left side of D.
Purchased from Jack L. Klausen, June 17, 1968.
Choice Mint State 1884-S $20
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890 1884-S MS-63. Brilliant and lustrous. A beautiful specimen for the grade, one which shows far fewer bagmarks than are normally encountered for this date. Typically found well circulated up to MS-62 or so. At MS-63, the rarity of the date becomes substantial.
Date logotype lightly impressed. 1 equidistant, left edge of lower serif over space between dentils. Reverse S mintmark small, somewhat blunt at the middle, closer to upper left of D (DOLLARS) than to tail feathers.
Acquired from the Goliad Corporation in trade, March 15, 1972.
Another Choice Uncirculated 1884-S $20
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891 1884-S MS-63. Bright honey gold with strong lustre. Semi-prooflike surfaces show a couple of small, faint spots in the left obverse field. Still, a lovely coin for the grade.
Date logotype lightly impressed. 1 equidistant, left edge of lower serif over right edge of dentil. Reverse S mintmark small, somewhat blunt at the middle, about equidistant from tail feathers and denomination, just minutely right of center of space below.
Purchased from Stanley Kesselman, January 15, 1973.
892 1889-CC AU-58. Lustrous honey gold surfaces are satiny in nature. A pleasing example of a popular Carson City issue, a date that is quite scarce in AU.
Date logotype nicely impressed, slightly right and fairly low in the die, 1 closer to dentils than truncation, left edge of lower serif over right edge of dentil. Reverse CC mintmark large and well-formed, less than a letter’s space between the letters, farther from the tail feathers than from the denomination, first C over center of space between Y and D, second C mostly over left side of D.
From Lester Merkin’s sale of October 1966, Lot 456.
893 1890-CC AU-50. Warm and satiny honey gold surfaces. A lustrous and pleasing specimen of a popular Carson City Mint issue.
Date logotype nicely impressed, date low and to right, 1 twice as far from truncation as from dentils, left edge of lower serif over center of dentil. Reverse CC mintmark small and round, less than a letter’s space between the letters, placed mostly over space below, right edge of second C just over left edge of upper serif of D below. Upon close inspection the tail feathers of the eagle, especially to the right, are very lightly impressed into the working die—probably from the original master die (not from relapping, or else certain other features including the mintmark would be lightly defined). A fairly heavy die break connects the tops of UNITED STATES OF AMERICA before petering out below the S in DOLLARS.
From Stack’s ANA Convention sale, August 1971, Lot 2486.
Low-Mintage 1891-CC $20 Rarity
Just 5,000 Struck
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894 1891-CC AU-58 (PCGS). Frosty golden yellow with attractive olive highlights. A key date, a prize among the later Carson City Mint double eagles. Just 5,000 examples of the date were struck, with many survivors from that mintage in a lesser grade than that offered here. The desirability of the present piece is enhanced by the relative availability of certain other Carson City double eagles of the era, thus helping to create want lists for the rare 1891-CC.
Date logotype moderately impressed, top of first 1 about half again as far from truncation as the bottom is from the dentils, left edge of lower serif over space between dentils, upper loop of 9 just touches ball of that numeral. Reverse CC mintmark fairly round, back of the letters thick, closely spaced, second C minutely higher than first C, first C over right side of space between Y and D, second C entirely over D below. First C filled with horizontal die lines, second C clear.
Purchased from Mr. Louis (Chicago), March 16, 1972.
Choice Mint State 1892 $20
A Low-Mintage Rarity
Tied for Finest Certified by PCGS
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895 1892 MS-64 (PCGS). Lustrous honey gold with strong cartwheel lustre and splashes of rose iridescence. A great rarity at this level—far rarer than an equivalent Proof (and Proofs themselves are very rare). For the specialist this piece represents a rare find, a rare opportunity, and is one of the great highlights in this portion of the Bass Collection double eagle offering.
PCGS Population: 2; none finer.
Date logotype nicely impressed, 1 equidistant, left edge of lower serif over left edge of dentil, 9 sharp, loop and ball apart. Reverse devices well impressed and sharply presented.
From Stack’s sale of the DiBello Collection, May 1970, Lot 1283.
Mint State $20 Group
Emphasis on San Francisco
896 Group of MS-60 double eagles, all but two being from the San Francisco Mint: I 1892-S I 1895-S I 1897-S I 1898-S I 1899 Date logotype placed very low I 1902-S I 1903 I 1904-S. Each item is lustrous and attractive. (Total: 8 pieces)
Lustrous 1893-CC Double Eagle
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897 1893-CC MS-62 (PCGS). Lustrous honey gold with olive highlights. Sharply struck and aesthetically appealing for the grade. Struck in the final year of Carson City Mint operations.
Date logotype nicely impressed, bottom of 1 marginally closer to dentils than top is to truncation, left edge of lower serif over left edge of dentil. Reverse CC mintmark letters fairly round, back of the letters thick, letters closely spaced, both letters even, first C over right side of space between Y and D, second C entirely over D below.
Purchased from Douglas Weaver, August 30, 1973.
898 1893-CC AU-58. Satiny honey gold with delightful cartwheel lustre. A second pleasing specimen of this popular issue.
Date logotype nicely impressed, top of 1 more distant from truncation than bottom is from dentils, left edge of lower serif over center of dentil. Reverse CC mintmark letters fairly round, back of the letters thick, letters closely spaced, both letters even, first C over right side of space between Y and D, second C entirely over D below. A network of fine die cracks is seen in the reverse legends.
Purchased from Dr. Jay M. Sklar, February 1, 1972.
Lovely 1894 Double Eagle
Choice Mint State
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899 1894 MS-64 (PCGS). Satiny honey gold with strong lustre and lively rose iridescence. A prize at the assigned grade level; PCGS has not certified an example of the date above the grade of the present piece. Surprisingly rare in choice Mint State despite a lofty mintage of nearly 1.4 million pieces.
Date logotype nicely impressed and nicely centered horizontally and vertically, left edge of lower serif over right edge of dentil. Reverse with a faint die crack at the tops of TED ST.
Purchased from Stanley Kesselman, February 7, 1972.
Attractive Mint State $20 Group
900 Half dozen Liberty double eagles: I 1894-S MS-62 Prooflike. Reflective yellow surfaces; about as close as a circulation strike can come to a Proof without actually being one! I 1898-S MS-62. Lustrous with a couple of minute spots near date. Date logotype very low I 1899-S MS-62. Lustrous with pale green highlights. Date logotype very low I 1904-S MS-62. Lustrous. Date logotype fairly high I 1907 MS-62. Frosty lustre I 1907-D MS-62. Scratch through coronet. Date logotype fairly high. (Total: 6 pieces)
Even late-date Coronet Head double eagles are apt to show wide variations in date positioning. Seemingly, no centering line or guide was used for date placement in the working dies, and there are numerous variations vertically and horizontally. These varieties have never been catalogued and are probably beyond the interest of most numismatists, but they are fascinating to observe. In contrast, it seems that Morgan silver dollars of the late 19th and early 20th centuries had the dates positioned by the use of tiny dashes or marks to guide the logotypes, with the result that there are not many significant position variations.
Choice Uncirculated 1896-S $20
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901 1896-S MS-63. Lustrous orange-gold. Just a few light marks short of the gem category. A plentiful and popular Gay Nineties issue.
Date logotype evenly impressed. 1 equidistant, left edge of lower serif over center of dentil. Reverse S mintmark fairly tall and nicely shaped, marginal closer to D below than tail feathers above, right side of S over left end of serif of D. Machine doubling on the mintmark.
From Abe Kosoff’s ANA Convention sale, August 1968.
902 1897 MS-63. Bright and lustrous yellow gold with lively olive highlights.
Date logotype firmly impressed, date nicely centered horizontally and vertically, left edge of lower serif of 1 over right side of dentil. Reverse is nicely struck in all areas.
Purchased from Jack L. Klausen, June 17, 1968.
903 1899 MS-63. Satiny honey gold with lively lustre and attractive olive highlights.
Date logotype firmly impressed, date centered horizontally and vertically, left edge of lower serif of 1 over right side of dentil, a few faint cracks connect some obverse stars that are also seen through the bottom of the date. Reverse sharp.
Purchased from Stanley Kesselman, April 23, 1973.
904 1900 MS-63. Satiny lustre on bright honey gold surfaces. A toning spot is noted at the top of the 1 in the date.
Date logotype firmly impressed, date centered horizontally and vertically, left edge of lower serif of 1 over center of dentil. Reverse sharp.
From Stack’s sale of the Bartle Collection, October 1984, Lot 1094.
905 1901-S MS-62. Lustrous yellow gold with some pale olive highlights.
Date logotype firmly impressed, date slightly right, left edge of lower serif of first 1 over right edge of dentil. Reverse S mintmark lightly impressed, S tall, thin, and shapely, top of S slightly closer to tail feathers than to D below, right side of S over left end of upper serif of D.
From Superior’s sale of February 1973, Lot 972.
906 1903 MS-64 (PCGS). Lustrous honey gold with olive iridescence on both sides.
Date logotype evenly impressed, 1 equidistant, left edge of lower serif over space between dentils, 9 open. Reverse lettering with traces of unfinishing at TWENTY and IN GOD WE TRUST, somewhat reminiscent of certain dies of years earlier (in a related context, the 1857-O $20 in the present offering is an example).
Purchased from Julian Leidman, May 13, 1972.
907 1904 MS-64. Brilliant and lustrous with attractive olive highlights.
Date logotype evenly impressed, 1 equidistant, left edge of lower serif over left edge of dentil, 9 open. This piece, and many others of this era, are struck from dies that must have had a very fine mattelike surfaces, imparting a rich satiny lustre to the finished product—quite unlike the deeply "flashing" lustre of years earlier.
Purchased from James Hayes, August 18, 1972.
Important 1905 Double Eagle
A Condition Rarity
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908 1905 MS-63 (PCGS). Subdued lustre on honey gold surfaces. Scattered copper spots are noted, chiefly on the obverse. From a fairly small mintage for the era of 58,919 business strikes. The 1905 double eagle has long been recognized as a rarity. Very few were saved by intent or chance, as numismatists of the era—as small as their numbers may have been—purchased Proofs instead. One of the rarest 20th-century double eagles, with just the 1902 issue being scarcer.
Date logotype evenly impressed, numerals shapely, 1 equidistant, left edge of lower serif over center of dentil, 9 open. Reverse unremarkable.
Purchased from Stanley Kesselman, January 16, 1970.
Choice Mint State 1906 $20
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909 1906 MS-64 (PCGS). Satiny honey gold with delightful lustre and warm olive highlights. From a fairly small mintage for the era of just 69,596 pieces. A notable condition rarity in MS-64 or finer, and highly desirable as such.
Date logotype evenly impressed, numerals shapely, 1 equidistant, left edge of lower serif over left edge of dentil, 9 and 6 open.
Purchased from James Hayes, August 18, 1972.
910 1906-S MS-63. Satiny honey gold with strong lustre and olive highlights. An "earthquake year" coin.
Date logotype evenly impressed. 1 equidistant, left edge of lower serif over right edge of dentil, 9 and 6 open. Reverse S mintmark fairly tall and well shaped, equidistant between tail feathers above and D below, right side of S nearly half over serif of D below. The surfaces of this have the "flashy" frost typical of an earlier era.
Purchased from the Goliad Corporation, October 10, 1972; ex Charles Byers, September 21, 1972.
Gem Mint State 1907-D Liberty $20
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911 1907-D MS-65 (PCGS). A satiny honey gold gem with strong lustre and lovely pale olive toning highlights. A gem from the final year of the design type.
Date logotype evenly impressed. 1 equidistant, left edge of lower serif over left edge of dentil, 9 open. Reverse D mintmark wider than it is tall, much closer to tail feathers than to D below, right curve of D over point of upper serif of D below.
From Stack’s sale of the Bartle Collection, October 26, 1984.
Phenomenal MCMVII High Relief $20
Magnificent Specimen of a
Magnificent Design
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912 MCMVII (1907) High Relief. Flat Rim. MS-66 (PCGS). This example is a magnificent specimen of one of America’s all time favorites, a motif which in many surveys has been voted the most popular ever made for a circulating coin.
The present specimen is very high on the roster of known examples, combining as it does a very high numerical grade with—even more important—magnificent aesthetic appeal. The satiny surfaces have fully brilliant light yellow gold lustre. The surfaces challenge perfection.
As is true of all high-grade circulation strikes the fields show minute raised swirls and lines, from the die finishing process. Some have suggested that these signify Proof strikings, but in all actuality such lines are common to all, at least all we have seen. It might well be that another grading service might designate the present piece a Proof; at present, PCGS does not recognize Proofs of this issue, but certain other services do. Whether or not Proofs were actually made is a matter of debate—with opinions on both sides. So far as we know, the designation Proof is of relatively modern origin, as thus far in our research the earliest listing we have found is 1950 (in a Numismatic Gallery catalogue). The point of mentioning this is that pieces equivalent to this seem to have been offered as Proofs elsewhere, and often pieces designated as Proofs sell for more money, and this feature simply adds to the potential of the present specimen.
Although it can no longer be seen as the coin is in a holder, Harry Bass in his notes observed that "13.297" was painted on the edge—apparently in very tiny numerals and removable if desired, quite possibly a museum accession number, possibly from the Massachusetts Historical Society, consignor to the 1976 sale mentioned below.
Of the 11,250 specimens struck of the MCMVII, data indicate that about 4,000 were struck with the flat rim (details will be given in the forthcoming work on gold coins) and the balance with full or partial wire rims. For many years both have been collected as separate varieties, but actually the basic dies are the same—it is just the rim that differs slightly.
Of the original mintage quantity, we estimate that several thousand exist today, with typical grades being from AU to low Mint State. In high grade such as MS-64 and MS-65 the field thins out to just a few contestants, and at the MS-66 level offered here, only six other specimens have been certified by PCGS—and none finer—at the time of cataloguing. Thus, the present piece is indeed very special.
PCGS Population: 7; 0.
Some historical notes may be of interest:
This coin, with its exquisite sculptured appearance, is one of the most popular of all American numismatic rarities. It was created by the cooperation of President Theodore Roosevelt and noted sculptor Augustus Saint-Gaudens.
In 1904, after visiting the Smithsonian Institution (then located in the "Castle" building on the Mall), President Theodore Roosevelt contemplated that coins of ancient Greece were more beautiful than those circulating in America. He consulted with certain government officials, and then set up what became a one-man campaign to improve coinage artistry. In 1905 he enlisted the talents of his acquaintance (they had met briefly on a train earlier), Saint-Gaudens, to redesign the different denominations. Over a period of time the artist, working at his studio in Cornish, New Hampshire, devised ideas for the one-cent piece, eagle, and double eagle and, had his health permitted, would have advanced ideas for the entire range of coinage. Saint-Gaudens died on August 3, 1907, and the only issues which saw fruition were the Indian $10 and "Victory" $20. The present writer speculates that the design changes of the other denominations would have been spectacular, as were Saint-Gaudens’ alterations of the eagle and double eagle. Indeed, some sketches and preliminary ideas for a one-cent piece still survive.
The book United States Gold Coinage: An Illustrated History, by Q. David Bowers, details the correspondence between Roosevelt and Saint-Gaudens. The sculptor, an idealist, followed the President’s suggestion and created a $20 coin in high relief with a sculptured appearance—perhaps fulfilling the dream that American coins could be as artistic of those of ancient Greece.
Employees in the Engraving Department of the Philadelphia Mint, incensed because an outsider was selected to design coins (traditionally a privilege of the Mint itself), refused to cooperate with Saint-Gaudens. They stated, and, as it turned out, rightly so, that Saint-Gaudens was unfamiliar with the requirements of coinage and was approaching the situation from an artistic, not a practical viewpoint. Roosevelt intervened on behalf of the artist and insisted that the Mint produce his newly designed $20 coins no matter what the cost, effort, or expense might be. When the Mint stated that the relief was too high—as indeed it was—Roosevelt replied that he did not care, and if only one coin per day could be struck, this is how it would be!
Initial examples were of the Extremely High Relief design. Later, a modification was made, producing the "regular" High Relief design (as offered here) which still was in much higher relief than a normal coin and which still had striking problems. Still later, the design was considerably flattened, the Roman numerals were eliminated, and pieces could indeed be produced at high speed on production presses.
The first design, the so-called Extremely High Relief (or "Ultra High Relief"), required many blows on the medal press, with annealing between each impression, to strike up the coins properly. The exact number minted will probably never be known, but estimates ranging from a low of 13 to a high of 22 have been given, with the present writer (QDB) currently settling upon 18 or 19. It may have been that additional pieces were restruck by George T. Morgan after 1907, and inquiry is ongoing—with no definite conclusions yet reached.
The design of the MCMVII $20 is of exquisite beauty. Liberty is portrayed as a woman striding toward the viewer, with the resplendent rays of the sun behind. In her left hand (viewer’s right) is a torch held aloft, and in her right hand is an olive branch. The Capitol building, small in size, can be seen at the lower left. The date is given in Roman numerals, MCMVII, a classical influence. Below the date the monogram of Saint-Gaudens appears boldly. Above the head is the word LIBERTY, and around the border are 46 stars representing the states of the Union.
The motif for the obverse was taken from Saint-Gaudens’ much acclaimed figure of Victory, a part of the Sherman Monument completed in 1903 for Central Park, New York City. Before the motif used on the coin was decided upon, a number of variations were attempted, including a figure of Victory with angelic wings. Victory is said to have been inspired by Saint-Gaudens’ mistress, Davida Clark, with whom he had a child, and her visage is also said to be seen on the $10 piece of 1907, but in a close-up view.
The reverse of the MCMVII $20 depicts a flying eagle with the sun below and an inscription above. Interestingly, Saint-Gaudens copied this from the 1856-1858 Flying Eagle cent design, first proposing its use on a new variety of cent, but eventually adapting its use for the double eagle. The sculptor wrote to Roosevelt noting, in part:
"I am using a flying eagle, modification of the device which is used on the cent of 1857. I had not seen that coin for many years and was so impressed by it that I thought if carried out with some modifications, nothing better could be done. It is by all odds the best design on any American coin."
Much more could be said about the MCMVII, its history and background, and if the successful bidder on this coin would like an hour’s worth of reading material, a request to the editor will bring a manuscript draft of the 1907 $20 section of the new work on gold coinage.
From Stack’s 1976 ANA sale, August 1976, Lot 3297.
Lovely Gem MCMVII $20
913 MCMVII (1907) High Relief. Wire Rim. MS-65 (PCGS). A truly splendid, truly amazing example at the MS-65 grade level, of the variety with wire rim. Similar to the preceding, this piece under close examination has many raised swirls and lines from die finishing—hallmarks of what some have said defines a Proof. Moreover, Harry W. Bass, Jr. noted in his inventory that the present specimen has a "Proof Edge" (some commentary concerning this can be found in past auction citations as well as in the writings of Walter Breen).
Again, although PCGS does not recognize Proofs of this issue, and while we have not been able to locate any early references to Proofs, in modern times they have become quite popular and desired, and certain other grading services certify them. While we make no representation as to what some other grading service might say, this piece seems to come as close to a "Proof" as just about anything we have encountered.
Call it what you will—gem Mint State (as offered here and certified by PCGS) or Proof—this lovely coin combines a very high technical grade with a more than generous helping of eye appeal—creating a coin that will be long appreciated, long cherished by its next owner.
From RARCOA’s sale of September 1970, Lot 1573.
Choice Mint State MCMVII $20
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914 MCMVII (1907) High Relief. Flat Rim. MS-63 (PCGS). Sharply struck with satiny yellow gold surfaces. As always (in our experience), a close examination of the field shows raised die lines from the preparation process.
The present coin offers a nice meeting ground between high technical grade and reasonable market price. To these considerations must be added the Harry W. Bass, Jr. pedigree—how nice it will be for the successful bidder to have this connection when contemplating what many have called America’s most beautiful coin design.
From Abner Kreisberg’s sale of May 1966, Lot 1818.
Amazing 1908-S Saint-Gaudens $20
Just 22,000 Struck
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915 1908-S MS-65 (PCGS). A wonderful example—a visual and aesthetic treat—of this famous low-mintage rarity. The present specimen has finely grained satiny lustre over rich gold surfaces. The striking is exquisitely sharp, reflecting full obverse and reverse design details.
It is believed that the number of gem quality examples of the 1908-S is no more than about 20, certainly a small grouping, and just a tiny fraction of the number of gems known for the MCMVII. Accordingly, the connoisseur and specialist will want to bid very liberally for the present specimen, knowing that few equivalent pieces exist in all of numismatics.
The 1908-S has a rich history in numismatics, including auction appearances, and we would be pleased to share with the successful bidder our cumulative citations in this regard.
By 1908, the date of gold coins was incorporated into the master die, with the result that there is no difference among working dies. However, the mintmark (S or D as the case may be) was entered by a hand punch. On the 1908-S offered here the S is located above and slightly left of center of the 0 (1908), between two rays, and tilts slightly to the left.
From Abe Kosoff’s sale of the Shuford Collection, May 1968, Lot 2476.
Important Gem 1909/8 Double Eagle
Only Saint-Gaudens Overdate
High Condition Census
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916 1909/8 Overdate. MS-65 (PCGS). A lovely specimen, one of the finest seen, with lustrous bright golden orange surfaces, well struck, and presenting a combination of high technical grade with beautiful aesthetic appeal. Add to this the overdate status, and all the ingredients are on hand for a truly winning double eagle—one that will be a source of joy to its possessor. Before proceeding, we note that PCGS has graded only one finer example, an MS-66.
The story of the 1909/8 double eagle is interesting, and a sketch of it is given below:
In the year 1909, the production of double eagles at the Philadelphia Mint amounted to 161,282 pieces. No track was kept of the number of overdates, but the present writer (QDB) believes that about 40% of the mintage was of this variety. It has been suggested elsewhere that overdates constituted the majority, but the evidence seems inconclusive.
Regarding the distribution, it is likely that many of the 1909/8 coins remain stateside and were melted in the 1930s. A larger number of regular 1909 coins was shipped overseas, primarily to Europe.
Today, we estimate that perhaps 800 to 1,200 Mint State pieces exist, mostly in grades from MS-60 to MS-63, but enough MS-64 coins are around that the specialist can locate one without a great deal of difficulty. At the MS-65 level, as offered here, the overdate is a rarity.
It is quite interesting to note that until after about 1970, the overdate was considered to be quite scarce, even rare, and the typical example encountered was apt to AU or a very low level Mint State. The writer recalls looking through quantities of double eagles in the 1960s and not finding any Mint State specimens. In later times specimens in higher grades gradually came onto the market from European sources, so that by 1982, when David W. Akers wrote his marvelous study on double eagles, high-grade specimens were no longer numismatic curiosities. Still, even today Mint State pieces remain in the minority, and we estimate that perhaps 3,500 to 5,000 lightly worn pieces exist, typically EF to AU. Years ago most old time collections had pieces in this category.
The overdate was discovered at a very early time. The May-June 1910 issue of The Numismatist included this item by Edgar H. Adams:
"Overstruck dates are those where the die of one year has been altered to do service for the succeeding one. The last figure in the date is usually gouged out and replaced by the new one, but seldom is this operation conducted so skillfully that traces of it are not left. Of course the reason for this is to save money in the making of the dies, and the practice has by no means been abandoned altogether, for careful scrutiny of the Saint-Gaudens $20 piece of 1909 will reveal traces of what seem to have been the alteration of the figure 8 to 9."
Today we know that the master die contained the full date, 1908 or 1909 as the case may be. The most likely scenario is that an already made 1908 working die was impressed by a 1909 master die, neatly creating the overdate. There was no "gouging" or alteration of the date figures; one simply appeared over the other.
At the time, Adams was in the forefront of numismatic research. His studies of private and territorial gold coins, published serially in the American Journal of Numismatics a few years earlier, still stand today as definitive sources of information. With his friend William H. Woodin, Adams studied patterns carefully, and in 1913 Adams provided the photographs while Woodin wrote the text for the first book published on that topic. His mind knew no rigid boundaries, and in the pages of The Numismatist he was apt to skip from an arcane topic such as colonial copies made in the 1860s by James A. Bolen, to the Proof 1838 $10 piece, to pattern 1879 and 1880 $4 Stellas—and just about everything in between. Adams’ "day job" was as a newspaper reporter for the New York Sun. However, it seems that numismatics must have taken much of his spare time, for he wrote monographs, columns, and helped with dealer catalogues (such as those published by Wayte Raymond and the U.S. Coin Company). By 1920, Adams’ energy seems to have petered out, for his book on American tokens of that date is rather "thin," and cannot stand careful comparison with his magisterial efforts of years earlier on private gold coinage. In the 1920s Adams was heard from sporadically, and in the 1930s certain of his studies relating to early gold coins were published in The Coin Collectors’ Journal, by Wayte Raymond.
As sometimes happens, Adams’ May-June 1910 report of the overdated 1909/8 double eagle seems to have been forgotten. Fast forward to years later. The May-June 1943 issue of Wayte Raymond’s Coin Collectors’ Journal contained a discussion by Abe Kosoff, the New York City dealer who had entered the numismatic trade in 1929 and who in 1937 had established the Numismatic Gallery. He wrote of the 1909/8, noting that "five copies had been discovered," and one of these was illustrated. Until that time, it was virtually unknown to current dealers and collectors. Philosophy was much different in 1943 than it is today, and most dealers had little in the way of a reference library, and only rarely consulted old catalogues and periodicals. Even great rarities were apt to be featured in auction catalogues with simply a one-line description. Although B. Max Mehl could wield a pen with awesome flourishes during that era, laurels for truly authoritative cataloguing must go to John J. Ford, Jr., who joined the New Netherlands Coin Company in 1950, and who by 1952 was creating auction descriptions that went beyond name, rank and serial number—numismatically equal to date, mintmark, and grade. Even a common, ordinary coin, if described by Ford, could become an object of possession and desire! The present writer remembers this era well, beginning a year or two later. By 1955, the New Netherlands catalogues were kept at the elbow of just about anyone belonging to the increasing number of collectors and dealers who were interested in history and romance apart from grades and catalogue values. At the same time, Walter Breen was just coming on stream with his research, publishing actively in the Numismatic Scrapbook Magazine and doing cataloguing and other work for New Netherlands.
Going back to 1943 and Abe Kosoff’s "discovery" of the 1909/8: after notice in the Coin Collectors’ Journal, demand for the overdate multiplied. In 1944 the 1909/8 was listed for the first time in Wayte Raymond’s Standard Catalogue of United States Coins, the only widely used pricing reference of the era (the Guide Book would not make its debut until 1946, with a cover date of 1947). Beginning in 1945 it was added to Richard S. Yeoman’s Handbook of United States Coins, a buying guide. When the Guide Book was published in 1946, the overdate was listed. Beginning with the 1972 edition it was pictured.
Many interesting auction citations could be given for over the years, but the present Bass catalogue is not the appropriate venue. However, it is interesting to reflect what Joseph and Morton Stack had to say about Lot 873 in their sale of the J.F. Bell Collection, December 1944:
"1909/8 Overdate. Recently discovered and in great demand. Beautiful gem in Uncirculated condition. One of the finest known. Rare." This piece realized $273.00, a very generous figure for the era, when a common date double eagle was apt to bring in the $50 to $60 range.
James F. Kelly, the Dayton, Ohio, jeweler and rare coin dealer, launched a newsletter, Kelly’s Coins and Chatter with issue No. 2, August 1948, including this in its question and answer column:
"Was the 1909 Over 8 double eagle a recent discovery?
"A. No. It was written up in the 1910 Numismatist by Edgar H. Adams, page 157. Listed in the 1944 Standard Catalogue for the first time."
Kelly was practicing a bit of one-upmanship here, and wanted his readers to know that the overdate was not a new discovery (to him).
In reiteration, back to the present year 2000, the overdate is no longer a great rarity.
From RARCOA’s sale of the N.M. Kaufman Collection, August 1978, Lot 953.
Superb Gem 1909-D Saint-Gaudens $20
A Prime Rarity in This Grade
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917 1909-D MS-66 (PCGS). This sharply struck gem has brilliant, satiny orange-gold lustre. One of the very finest known examples of this rarity. In his 1982 text, David W. Akers mentioned this coin specifically:
"Harry Bass’ and Dr. Steven Duckor’s (ex Eliasberg) coins are both virtually perfect. It would be hard to imagine a finer Saint-Gaudens $20 of any date or mint than either of these."
Today, with later discoveries and with more attention paid to high grades (not to overlook the coming to market of many pieces attracted by valuations and the availability of certification), there are probably three or four specimens in this quality category—per the PCGS information below.
Today the 1909-D, while not the rarest Saint-Gaudens double eagle in absolute terms—as perhaps 1,500 to 2,000 exist in lightly worn grades—is highly respected in Mint State. However, nearly all are in significantly lower grades than the piece offered here.
In 1909 at the Denver Mint, 52,500 specimens were struck of this issue, one of the most restricted figures in the Saint-Gaudens series. Unlike the situation with certain issues, it seems quite likely that most 1909-D double eagles were retained in America and melted in the 1930s (particularly circa 1936). Relatively few seem to have been exported. At the time, there were three main uses for double eagles: 1. Specimens were held by the Treasury Department as backing for Gold Certificates. 2. Specimens were shipped overseas in satisfaction of large monetary transactions. 3. Specimens were used in circulation, but only to a significant degree in the American West.
Beginning in 1917, general circulation of double eagles stopped in the West, and later issues were nearly all used for currency backing or for export. Pieces minted and held domestically and never distributed were for the most part melted circa 1936, without any specific record being kept of the dates destroyed. The story is a very extensive one and is beyond the scope of the present discussion, but is of great fascination.
In summation, today the 1909-D double eagle is well known for its low mintage, is somewhat scarce but is easily enough obtained in lightly worn condition, is fairly elusive in Mint State, and is of extreme rarity in the lovely preservation offered here.
PCGS Population: 2; 1 finer (MS-67).
Purchased from Superior, August 25, 1973.
918 Trio of double eagles grading MS-63: I 1923. Lustrous with splashes of pale green and orange toning I 1923-D. Pale olive green toning over lustrous surfaces I 1926. Lustrous yellow surfaces. (Total: 3 pieces)
Choice Mint State 1925-D $20
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919 1925-D MS-64 (PCGS). Fully brilliant, frosty orange-gold lustre with superb design details. Only a few minor marks are noted. This is a delightful example of a rarity in choice or gem Mint State grade. A small number of lower Mint State grade coins are known, perhaps as many as 200 examples. During the decade, only one Denver Mint issue is common, dated 1923. All others from 1924 to 1927 are rare or extremely rare.
The mintage of the 1925-D was very generous, amounting to 2,938,500 pieces. However, virtually the entire production was kept stateside and held by the Treasury Department. The writer estimates that the number exported was very small, perhaps on the order of 1,000 or so. In addition, perhaps a few thousand were released to American banks. Today, the number of 1927-D double eagles known is in the hundreds, with MS-60 to MS-63 being typical grades. At the MS-64 level, as here offered, the 1925-D is quite difficult to locate, and in any higher grade it becomes a formidable rarity. Most of the pieces known in numismatic circles today were imported from France and Switzerland in the 1950s by Paul H. Wittlin and William Donner among others. Scattered pieces came to light later, often in Paris but normally sold through agents in Switzerland. As an interesting numismatic sidelight, in the summer of 1932 the Treasury Department, quite eager to help numismatists, issued a listing of 16 earlier dated gold coins that were available for face value. It may be of interest to reprint the full list herewith, as it shows what was being stored in the Treasury building in Washington, DC at the time:
1907-D $5, 1909-D $5, 1929 $5 (today considered to be a very rare date), 1914-D $10, 1930-S $10 (today a prime rarity), 1932 $10, 1925-D $20 (as offered here), 1925-S $20 (a rarity), 1926-D $20 (a rarity), 1926-S $20 (a rarity), 1927-D $20 (a super rarity), 1927-S $20 (see the next lot in the present sale), 1930-S $20 (a rarity), 1931 $20 (a rarity), 1931-D $20 (a rarity), 1932 $20 (a rarity). So far as the writer has been able to determine, the entire supply of 1932 double eagles in numismatic hands today—numbering in the dozens and considered quite rare—is derived from Treasury holdings; no record has been found of even a single piece being exported or used in domestic commerce.
Purchased from the Goliad Corporation, October 30, 1972.
Choice Mint State 1927-S $20
An Important Rarity
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920 1927-S MS-63 (PCGS). A lovely example with satiny light yellow gold lustre and very few minor surface marks. Slightly weak on the Capitol dome at the lower left obverse, this being typical. Most other details are sharp. The present coin is truly lovely and is fully the equal of many Saint-Gaudens double eagles we have seen in certified MS-64 grade. The borders are beveled, this being a characteristic of the issue (we are not quite sure how this occurred, and anyone with specific information is invited to write; the same situation exists on certain other gold coins).
The presently offered piece is from a very early impression and shows no die cracks or deterioration, quite unlike most known today.
Among Saint-Gaudens double eagles, the 1927-S is highly prized in any and all grades. We estimate that 50 to 70 exist in grades from EF to AU, and a like number in Mint State, most being toward the MS-60 end of the scale. It seems quite evident upon contemplation that the 1927-S is quite a bit rarer than most people believe it to be. Perhaps it has been too long in the shadow of its cousin, the super-rare 1927-D. Interestingly, decades ago the 1927-S was considered to be rarer than the 1927-D but in the intervening time some 1927-S pieces turned up overseas, whereas the 1927-D has remained stubbornly elusive.
Perfect dies. Truly unusual as most examples have die deterioration and die cracks.
Purchased from Coen-Messer, August 10, 1972.
End of Sale Three
