$176,250 for a double eagle with an important story
- Published: Aug 31, 2016, 9 AM
Nearly $60 million in rare coins and currency traded hands at auctions during this year’s American Numismatic Association World’s Fair of Money in Anaheim, Calif.
Stack’s Bowers Galleries totaled more than $21 million in its official ANA auctions while Heritage saw more than $38 million in its sales.
Stack’s Bowers Executive Vice President Christine Karstedt said after the sale, “Collectors demonstrated an enthusiasm for originality and true rarity across all series, indicating demand for premium quality coins at every level from common date Morgan dollars to world-class rarities.”
Here is one of three sold gold coins we're profiling in this week's Market Analysis:
1907-D Coronet gold $20 double eagle, NGC Specimen 62
This 1907-D Coronet gold $20 double eagle represents an important discovery for the series and the hobby’s understanding of Branch Mint Proofs. Another example exists — struck on Sept. 30, 1907 — and Heritage believes that the offered example was struck on the same day to celebrate the end of the Coronet double eagle type.
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Heritage’s coin was graded Specimen 62 by Numismatic Guaranty Corp., but Heritage wonders why it wasn’t considered Proof, noting, “The depth of mirroring in the fields is consistent with proofs of the era, the strike is comparable, and there is no trace of cartwheel in the fields.”
Part of the issue is that few pieces are known and contemporary documentation is scarce. Heritage pointed out, “The coins speak for themselves, and it is apparent the planchets were specially prepared, and an attempt was made to produce a product that would be comparable to [Proofs] struck in the Philadelphia Mint.” Collectors agreed and the flashy double eagle sold for a strong $176,250.
Keep reading about notable gold coins sold at the 2016 World's Fair of Money:
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