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September 27, 2013

COIN OF THE WEEK

1861 $20 Type 1 Double Eagle NGC AU55 CAC

 

1861 $20 Type 1 Double Eagle NGC AU55 CAC - $2,975.00


Here's a great big of Civil War Double Eagle gold coin in Very Choice About Uncirculated condition ! Excellent quality graded by NGC also sporting a green CAC sticker. Start an 1861 Set of the 1st year of the Civil War or assemble a set of Philadelphia mint Civil War Double Eagles. Call/Email to Reserve now as these coins are starting to see the spreads for CAC specimens and non-CAC specimens widen considerably, seems like the premiums are as low as they can be, one just like it just sold at Heritage Auctions the other night for $3,290.00. Here’s one hand picked for less, same price for dealers at only $2,975.

1861 $20 NGC AU55 CAC. Type 1 Double Eagle. Here is an outstandingly beautiful Civil War dated 1861 Double Eagle. The colors and luster show the coin’s originality. The strike is strong with full details on the centers of the stars and the design details of the reverse, especially the eagle. The surfaces are extremely clean for the grade with no notable abrasion marks or other distractions. The CAC sticker indicates that the coin is a premium quality piece that fully merits the assigned grade.


The double eagle was designed by James B. Longacre. It shows a Liberty head facing left, wearing coronet inscribed LIBERTY. Her hair is tightly tied in the back with two loose curls hanging down her neck to the end of the truncation. She is surrounded by thirteen six-pointed stars with the date below. Dentils are near the edge on both sides of the coin. The reverse shows a heraldic eagle with elaborate ribbons on both sides of the shield extending from the top corner down to the eagle’s tail feathers. The ribbons are inscribed, on the left E PLURIBUS and UNUM on the right. The ribbons were added to the design to symbolize the denomination since this was the first twenty dollar coin. There is an oval of thirteen stars above the eagle’s head and an arc of rays from wing tip to wing tip behind the upper half of the oval. UNITED STATES OF AMERICA is in an arc above the eagle, and the denomination TWENTY D. is below.


The coin was made because of the huge amount of gold that came into the Mint from California. With the discovery of gold at Sutter’s Mill in January 1848, the California gold rush began. It led to an influx of miners and others into the area. The vast quantity of gold produced led to a need for a standard form of exchange. The double eagle was the government’s response. They also felt that the new denomination would be useful for large commercial transactions and that it would facilitate foreign trade.


Longacre was born in Pennsylvania in 1794. When he finished his apprenticeship in Philadelphia as a bookseller and a banknote engraver, he worked on his own as an engraver of book illustrations and bank notes. His works included one on the signers of the Declaration of Independence and another on stage personalities. In 1830, Longacre began a series of biographies of famous men in the military and the political arena. In 1834 the result of this series became the National Portrait Gallery of Distinguished Americans that was published in four volumes. Longacre and those who worked with him became famous because of this work.


In 1844 Longacre came to work at the Mint. He was opposed by Franklin Peale, the Chief Coiner. Peale was probably responsible for some blundered dies that Longacre was criticized for making. Peal was involved in a private, illegal medal manufacturing business using Mint facilities. He was concerned that this new political appointee would interfere with his business, and he resisted Longacre’s appointment as Chief Engraver. Finally in 1854, Peale was fired by President Franklin Pearce. Longacre flourished in his position and was responsible for creating many new designs including the Indian Head cent, the two-cent piece, the Shield nickel, the Liberty Head gold dollar, the Indian Princess gold dollar, the three-dollar gold piece, and the Liberty Head double eagle.


In its population report, as of September 2013, CAC has confirmed 19 1861 Double Eagles at the AU55 grade level.


AND NOW YOU HAVE A CHANCE TO PURCHASE THE 1861 DOUBLE EAGLE BUY IT HERE !


Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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