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$20 1863-S Liberty Head Gold Double Eagle NGC/PCGS AU58

Struck in San Francisco

$5,995.00
Product Code: C7097
DESCRIPTION
Liberty Head Gold Double Eagles were first minted in 1849 and continued production until 1907. This example was struck at the San Francisco Mint during 1863 and is graded AU58. These 1863 Liberty Head Gold Double Eagles are of the Type 1 variety, which was only minted for 17 years and is notorious for being extremely difficult to find in high grades. Although the total mintage of this issue is 966,570, it is unknown how many of these coins still exist due to the passing of Executive Order 6102. This order sought to revive the American economy by recalling circulating gold to be melted down. It is because of this order that gold coins of this era, such as the Liberty Head Double Eagle, are so rare. Out of all 1863-S Liberty Head Double Eagles minted, NGC has only graded a miniscule 267 examples in AU58, making this coin a tremendous condition rarity.

The Liberty Head Gold Double Eagle, designed by James B. Longacre, was the first Double Eagle, or twenty dollar denomination coin, minted in the United States. The reasoning behind creating a new twenty dollar coin composed of 90% gold was due to the California Gold Rush, which introduced massive amounts of gold into the economy.