Even though the New Orleans Mint had produced double eagles
in both 1850 and 1851, the coiners were still working out many of the
difficulties in producing such a large gold piece. Emphasis seemed to have been
placed on quantity over quality, leaving many examples with uneven or weak
strikes.
In 1852, a total of 190,000 double eagles came off the New
Orleans Mint’s presses, helping to make this one of the more readily available
of all $20s from that southern mint. However, as with most gold coins produced
in the Antebellum South, the coins entered circulation and saw extensive use
throughout the region. As a result, it is estimated that about 400 to 600
examples of the date can be accounted for today, most in the VF and EF range,
with only a very small number of coins at the AU level or above. This situation
is even more pronounced at the Mint State level, where at best only about a
dozen Uncirculated examples may still be extant today.
We are thrilled to offer one of these elusive Mint State
examples in our November 2020 Showcase Auction, presented as part of the
Collection of Steve Studer. It is an
outstanding example of an early New Orleans double eagle, and the fields offer
intense satiny luster. The reverse is faintly prooflike. Pale sandy-gold shades
are accented by hints of richer honey color across the high points and near the
borders. Scattered hairlines are noted on the obverse but the eye appeal
remains exceptional for this grade level. Just eight coins have been certified
finer by PCGS.
This impressive 18520-O $20 will be presented our November
2020 Showcase Auction, appearing alongside rarities from the Larry H. Miller
Collection, the E. Pluribus Unum Collection, the Larry Ness Collection, the
Monterrey Collection, the Abigail Collection, and many other significant
cabinets. The sale will be available for viewing and bidding on our website StacksBowers.com or you
can contact our offices to secure copies of the printed catalogs at Info@StacksBowers.com and 800-566-2580.
Listen to the blog and see high-resoultion digital images here.
