Goldberg Coins and Collectibles

Sale 78

January Pre-Long Beach Sale 17.5% BP

$20 Liberty/With Motto

Lot	Photo	Description	Realized
Lot 1867		1869. PCGS graded Proof 64 Deep Cameo. A lovely golden near gem proof. Very rare date. Only 25 pieces struck. We are pleased to offer this exquisite Proof 64 1869 $20 gold whose beauty instigates nods of appreciation within the collecting community. For the truth is, the cameo contrast is very strong, satiny smooth, much more so than one usually finds with coins struck in the 1860s. Deep Cameo is too limiting a term to capture the true performance of this coin's rich beauty and pageantry. That is our opinion. To say that the devices are merely "richly frosted" gets nearer the point; what's more the finish is set against glittering, smooth mirror fields that turn very "deep," as they say, when the coin is held at an acute angle in the light. The brilliant yellow gold shade along with an appreciable absence of marks or hairlines puts it near the forefront of the few Proofs remaining in collections. Proof Double Eagle issuance at the Philadelphia Mint in 1869 was the same as in 1868: only 25 were sold. Perhaps half as many remain. That being said, this is one of the most beautiful specimens of a Proof 1869 Double Eagle to come along in a long while, something we feel privileged to auction and obliged to emphasize and call your attention to. Its sale will be watched keenly by specialists in the double eagle series. Pop 1; 1 finer in 64+, and only 2 examples graded as Deep Cameo by PCGS. (PCGS # 99084) . Proof Diagnostics for 1869: In date 1 is repunched at upper left serif and touches bust. Traces of die polish in upper bun; traces of extra outlines on first four stars. Minute die rust marks on and above earlobe. Reverse: No repunching on stars or TRUST. Heavy letters, plain extra outlines on TWE, traces of extra outlines on most other letters except ICA; wing touches E(D). Areas of die polish at both fleurs de lys, scroll below arrows. Middle arrowshaft missing except for two tiny fragments. Wing feathers above arrows thin and well apart; die polish in adjacent area of scroll. Cluster of minute rust marks on base of scroll nearest rightmost feather. Gold Panic of 1869. A famous gold market "corner" took place on Wall Street on a Friday in the autumn of 1869. Two cunning speculators, Gould and Fisk, parleyed their "position" in gold into a near corner. They would have succeeded, too, had President Grant failed to instruct his Treasury Secretary to release some of the government's gold into the market to stem the buying frenzy. Prices in the metals markets, which had gone to a premium of 62% over par during the heat of the action, plummeted. And it took many months for international trade to return to normal afterward. The Gould-Fisk manipulation would go down in the history books under the name of Black Friday. (Students of 19th century American history often bump into a curious anomoly in regards to the pricing of gold. Gold wasn�t priced in "dollars" back then as it is now. Instead, it was the dollars that were priced in terms of gold. More to the point, it was the paper promissory "dollars" � the Greenbacks, etc. � that were priced as a percentage of specie or true gold "dollars" having a weight standard of 0.04837 oz. Fine to the "dollar." When you read newspaper accounts from the Civil War, 1861-65, and the pre Specie Resumption years, 1865-79, the prices are always given in percentage terms, such as 133% or just "133." "Gold traded at 133 today, up 2-1/2 from last Friday." What it means here -- again this was an era of unbacked paper currency overlaid on a rickety bimetallic standard -- isn�t $133 an ounce. Instead it is $133 in currency equals $100 in gold coin and vice versa. At the peak of the panic of 1869, gold traded at 162. To acquire $100 in gold coin at a bank, someone had to tender $162 in paper money for the transaction to take place, a 62% premium over par.). Estimated Value $90,000 - 110,000. View details and enlarged photos Check results on similar lots	Realized $141,000
Lot 1868		1870-CC NGC graded AU Details. Improperly cleaned. Well struck with plenty of detail and enough mint luster remains to justify this lofty grade. Normal allotment of light handling marks, none of which are worthy of mention although for purposes of future provenance research we point to a diagonal mark on Liberty's cheek ending at her ear. The classic Carson City Double Eagle rarity! The first coins to bear the distinguishing double-C mintmark of the Carson City, Nevada Mint were struck in 1870 in Quarter, Half Dollar, Silver Dollar, Half Eagle, Eagle and Double Eagle denominations. (The first Dimes would be forthcoming in 1871.) All 1870-CC issues are rare, key-date coins in their respective series, but the '70-CC Double Eagle stands out as a particularly central issue even in this highly select group. Rivaling only the 1870-CC Eagle for this honor, the 1870-CC $20 is widely regarded as the rarest gold coin struck in the Carson City Mint. It is an important offering at all grade levels and one that is always greeted with considerable trumpet blasts of approval when offered either through auction or for private treaty purchase. Treasury Department records indicate that only 3,789 Double Eagles were struck in the Carson City Mint during 1870, and virtually all of those coins have since been lost. Writing in 2001 (Gold Coins of the Carson City Mint), Douglas Winter and James L. Halperin account for just 35-45 survivors in all grades. The authors further state that there are no Mint State examples known to exist. A leading highlight, if not the centerpiece of this collection of rare U.S. gold, the present 1870-CC Double Eagle is also among the most prestigious coins an collector could own. And as a long-hidden example of this very rare issue, it is a piece that is sure to have no difficulty finding its way into another world-class portfolio of gold rarities (PCGS # 8958) . Historical Account of the Carson Mint: As backgrounder, we look first to Walter Breen's Double Eagle research which revealed that, "Most dates in this period show up oftenest in VF with S mintmarks. Philadelphia issues 1866-72 are mostly scarce, except for the 1867 UNCS. from a hoard (possibly 2,000, found in Europe about 1966, distributed in the USA beginning about 1973). For political reasons, official orders limited the Carson City issues 1870-73. Authorities and bankers preferred to ship bullion to San Francisco, alleging lower cost. Claims (partly verified) that the CC Mint issued some lightweight and/or debased coins, 1871-73, led to dismissal of the Superintendent, H. F. Rice, and to the frequently seen edge test marks on Carson City gold pieces of this period. This discovery gave ammunition to the Carson Mint's official attackers, and rationale to many who sought to have this branch abolished; but their real reasons had to do with who would get the coveted contracts for transporting ores and coins. The only readily available Carson City issues are dated 1874-76, coined from local bonanzas. Other CC dates are all rare, and in mint state all but unknown." The best source for in-depth information about the Carson City and its array of coins is the book by Rusty Goe titled The Mint on Carson Street. In it, Goe has this to say in his "Reflections" on the 1870-CC $20: "To get things off to a much anticipated start, Comstock miners deposited approximately $125,000 worth of gold ore at the new local mint in the first half of 1870. In February, $16,440 worth of the gold bullion was minted into $10 eagles, followed by $2,000 worth of $5 half eagles, and in March, $26,640 in new 1870-CC double eagles. Superintendent and town founder Abe Curry was proud of every coin being minted, but especially the $20 double eagles. As he held these heavy gold coins in his hand he could not help but admire every detail of them." Estimated Value $175,000-UP. Ex: Purchased from Abner Kreisberg in the early 1970's The Del Valle Collection. View details and enlarged photos Check results on similar lots	Unsold
Lot 1869		1872. NGC graded AU-58. A bright, lustrous untoned example. Semi reflective surfaces with frosted devices. Pop 251; 82 finer (PCGS # 8963) . Estimated Value $2,000 - 2,100. View details and enlarged photos Check results on similar lots	Unsold
Lot 1870		1874-CC. PCGS graded EF-45. A hint of light tone. The first thing one notices is how smooth-surfaced this is, how free of marks. The luster is still present within some devices. But most of all, we proclaim it to have first-class eye-appeal. A worthy candidate for someone wishing to acquire his first CC-mint Double Eagle. Carson City, working in the shadow of its nearby Big Brother mint, San Francisco, had difficulty attracting deposits of bullion for coinage. The Mint operated from 1870 until 1893, with a gap in 1886-88 when the political situation and an internal scandal caused cessation of minting. The bulk of the coins struck in those years comprised $20 gold pieces (PCGS # 8971) . Estimated Value $2,400 - 2,500. View details and enlarged photos Check results on similar lots	Realized $3,760
Lot 1871		1874-CC. NGC grade XF Details. Improperly Cleaned. Nicely toned (PCGS # 8971) . Estimated Value $1,900 - 2,000. View details and enlarged photos Check results on similar lots	Realized $2,115
Lot 1872		1879-CC. PCGS graded AU-50. Nicely stuck with traces of luster and all over laid with natural rich golden toning, the surface quality far surpassing a more typical Carson City Mint double eagle of this year or any other. Only 10,708 struck. Noting the relative mintage figures, the 1879-CC is rarer than the 1878-CC (13,180 pieces produced). In Mint State, few are accounted for and those that do come to market often see prices rise to the moon. Which positions this handsome AU50 offering right in line with many advanced collector�s budgets. Altogether an eye-catching example of this rare and highly sought-after CC-mint twenty, with the appeal that should draw a lot of notice. Pop 36; 72 finer. (PCGS # 8989) . Estimated Value $7,000 - 8,000. View details and enlarged photos Check results on similar lots	Realized $14,688
Lot 1873		1879-S. Fine 15. Probably cleaned long ago. Estimated Value $1,050 - 1,100. View details and enlarged photos	Realized $1,351
Lot 1874		1883-S. PCGS graded AU-58. Light golden toning (PCGS # 9000) . Estimated Value $1,500 - 1,550. View details and enlarged photos Check results on similar lots	Realized $1,586
Lot 1875		1888-S. PCGS graded MS-62. Lovely golden toning. A thrilling example of this always-popular Type. This select coin is brilliant for the most part and very nicely struck, with only minor diminishment at a few of the obverse stars on left. Probably a good many are not as carefully struck as this 1888-S Twenty, with no suggestion of cleaning and only a couple of insignificant marks around Liberty�s chin and nose. The fields are outstanding, suggesting a higher grade (PCGS # 9009) . Estimated Value $2,000 - 2,100. View details and enlarged photos Check results on similar lots	Realized $2,585
Lot 1876		1890 PCGS graded Proof Genuine Unc Details. Polished. A stunning totally Brilliant Proof specimen with watery mirror fields that are remarkably free from hairlines and only a few microscopic marks away from perfection. Probably wiped long ago with a jeweler's cloth (a common practice at the time). Only 55 Proofs minted. On the Proof dies, a low date slants up and is placed to the right. The left base of 1 is over a space between dentils -- almost over the left edge of 1; 1 not recut (as on business strikes). The reverse displays a heavy ray below E, incomplete; also, double punching on third star is unusually obvious (traces are on most dates). Possibly fewer than half of the 55 Proof examples struck can be accounted for today, with a population that may be under 20 pieces. Jeff Garrett and Ron Guth wrote in their Gold Encyclopedia: "There are just 15 or so coins known for the date in proof, including examples in museum collections that are permanently off the market." (PCGS # 9106) . Estimated Value $7,500-UP. The Del Valle Collection. View details and enlarged photos Check results on similar lots	Realized $10,281
Lot 1877		1890-S. NGC graded MS-61. Mostly untoned, a frosty, carefully struck San Francisco Mint dates from the first year in the 1890s. Normal contact marks (PCGS # 9015) . Estimated Value $1,700 - 1,750. View details and enlarged photos Check results on similar lots	Unsold
Lot 1878		1893-S. PCGS graded MS-62. Light even golden toning, blazing cartwheel luster on the reverse (PCGS # 9024) . Estimated Value $1,400 - 1,450. View details and enlarged photos Check results on similar lots	Realized $1,586
Lot 1879		1893-S. NGC graded MS-62. Boldly made. An attractive S-mint $20 gold piece. With the Carson City Mint being shut down this year, available gold bullion in the Western part of the country flowed to San Francisco, which hereafter in some years would often top Philadelphia's Double Eagle production (PCGS # 9024) . Estimated Value $1,300 - 1,350. View details and enlarged photos Check results on similar lots	Unsold
Lot 1880		1897. NGC graded MS-65. A great condition rarity which retains especially vibrant luster in the fields. The strike is typically sharp, with no softness readily apparent. Furthermore, he planchet is bright pinkish gold, with a hint of pale orange-gold near the rims and quite appealing. This combination of natural colors and surface integrity is often absent from the Double Eagle series. Examination will find no noteworthy or distracting bagmarks on the surfaces, barring a few minor luster disturbances, and as such the present coin is quite extraordinary. In fact, this Gem is tied for the finest example of this date graded by NGC, and it is at the top Condition Census: Pop 14; none finer at NGC (PCGS # 9031) . 1897 is the year William McKinley succeeds Grover Cleveland as President of the United States. Also, Mark Twain, responding to rumors that he is dead, is quoted by the New York Journal as saying, "The report of my death was an exaggeration. Estimated Value $12,000 - 13,000. View details and enlarged photos Check results on similar lots	Realized $21,150
Lot 1881		1898-S. PCGS graded MS-62. Attractive light golden toning. Housed in an Old Green Holder (PCGS # 9034) . Estimated Value $1,300 - 1,350. View details and enlarged photos Check results on similar lots	Realized $1,528
Lot 1882		1902. PCGS graded Proof 62. CAC Approved. PQ. Light golden toning. Housed in an Old Green Holder. Only 114 struck, 40 to 50 examples known according to PCGS Pop Report. The 1902-P Double Eagle is a popular issue in both Proof and business strike formats. The business strikes for the reason that they record the lowest mintage -- 31,140 -- of any Liberty Twenty struck during the 20th century. The Proof 1902 enjoys such strong demand because of its rarity, and we believe that in the most liberal estimate, only 50 coins have survived in all grades from the original mintage. This is the first year in which the United States Mint abandoned the practice of striking cameo-finish Proofs in favor of all-brilliant techniques. It is highly enjoyable, therefore, that the present Proof 62 exhibits gleaming fields and devices to have secured a Proof 62 designation from PCGS. The surface shows a bit more pronounced hairlines than on some choicer examples, but both sides possess uniform lightly toned color to the surfaces. Fully struck and otherwise very well preserved, a couple of minor contact marks are hardly worth mentioning. A coin of distinction.Pop 5; 18 finer, 7 in 63, 10 in 64, 1 in 65. (PCGS # 9118) . Estimated Value $12,000 - 13,000. View details and enlarged photos Check results on similar lots	Realized $30,550
Lot 1883		1904. PCGS graded MS-64. CAC Approved. A gorgeous satiny mint example with extremely clean surfaces throughout (PCGS # 9045) . Estimated Value $1,600 - 1,700. View details and enlarged photos Check results on similar lots	Realized $2,350
Lot 1884		1904. PCGS graded MS-64. Lovely light golden toning. Housed in an Old Green Holder (PCGS # 9045) . Estimated Value $1,600 - 1,700. View details and enlarged photos Check results on similar lots	Realized $2,115
Lot 1885		1904. PCGS graded MS-63. Lovely golden toning (PCGS # 9045) . Estimated Value $1,400 - 1,450. View details and enlarged photos Check results on similar lots	Unsold
Lot 1886		1904. PCGS graded MS-62. Typical (and attractive) frosty to satin-finish luster throughout. The most popular date for inclusion in a Type Set (PCGS # 9045) . Estimated Value $1,300 - 1,350. View details and enlarged photos Check results on similar lots	Realized $1,469
Lot 1887		1904. PCGS graded MS-60 CAC Approved Gold Sticker. Housed in a First Generation Holder. Pleasing mint bloom colors (PCGS # 9045) . Estimated Value $1,100 - 1,200. View details and enlarged photos Check results on similar lots	Realized $1,528
Lot 1888		1905-S. Raw EF-45. Cleaned with some scratches (PCGS # 9048) . Estimated Value $1,000 - 1,050. The Del Valle Collection. View details and enlarged photos Check results on similar lots	Realized $1,410
Lot 1889		1906-D. NGC graded MS-63. Lovely mint bloom luster. Struck the initial year at the Denver, Colorado Mint, and as we have noted with others struck in 1906, the quality tends to be first-rate in terms of beautiful luster, warm golden color, and bold detail. In fact, the razor-edged design including obverse stars makes these noteworthy. Gold Type Set buyers will want to submit a bid (PCGS # 9050) . Estimated Value $2,400 - 2,500. View details and enlarged photos Check results on similar lots	Realized $3,525
Lot 1890		1907. NGC graded MS-61. A nice untoned example. Final year that this venerable design was issued (1850-1907). The country had changed considerably during those years, and the government wanted to liven up America's gold coins with new designs. Longacre's long-familiar coronet-crowned Liberty heads succumbed (PCGS # 9052) . Estimated Value $1,100 - 1,150. View details and enlarged photos Check results on similar lots	Realized $1,351