1868-S $20 Double Eagle PCGS MS60 CAC. Lustrous PQ, looks 61! With a mintage of 837,500 pieces for circulation, the 1868-S double eagle shares a story similar to many gold issues from this period. While its mintage was large, heavy circulation took its toll and these coins are very rare in any uncirculated grade. This issue is no exception, and even the largest collections of double eagle often had a circulated coin for this issue. In his Guide Book of Double Eagles, Q. David Bowers notes of this issue:

The 1868-S is common in circulated grades. In AU it is somewhat scarce, and in Mint State this variety is exceedingly rare, more so than generally realized

We can not argue with this comment at all, as from our experience uncirculated pieces are indeed rare. Major auctions often do not feature this issue in uncirculated condition, and they are hardly ever encountered at coin shows. As such, this piece should be considered rare and an important offering.

Certified by PCGS as MS-60 and stickered by CAC, this coin appears to us to be a prime update candidate. For the assigned grade, the fields are remarkably free of abrasions, often limiting the grade on these heavy and soft gold coins. Full luster is seen on both sides, with no breaks at any of the high points of the design. The eye-appeal is excellent, and the coin features the original light yellow color that should be found on pieces of this era. In all, we offer here a great coin for the specialist and a rare opportunity to acquire this issue in Mint State.

In its population report, PCGS shows 5 at MS60 with 10 better. At CAC as of March 2011, there is only this one and none better.

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