POSSIBLY THE SECOND FINEST KNOWN

All of the early S mint Type Three double eagles have a similar rarity profile, with examples of each readily available in grades through MS61; each then becomes scarce in MS62, rare in MS63, exceedingly rare in MS64, and unknown or nearly so in Gem. PCGS has currently graded six in MS64 with one finer. Let’s look at some comparable early San Francisco issues of this design:

This coin is what is typically referred to by dealers as a “Luster Bomb,” so named as the coin is literally exploding with frosty luster. The bright yellow-gold surfaces show just a few light scuffs, the majority of which are clustered in front of Liberty’s mouth and lower nose. The reverse is literally almost perfect and grades MS65+ or finer. The eye appeal is a 10/10 on the DWN scale, and this is a coin you will never get tired of looking at when you go to the bank vault to visit your coins.

Although I can’t state this was absolute certainty, I’m fairly certain that this coin is from the Saddle Ridge Hoard as it has been expertly conserved. There was a single MS64 in this group, and I suspect it is that very coin.

Another 1880-S $20 in PCGS MS64 is currently offered on a Virginia dealer’s website for $87,500. It is not CAC approved, and it is slightly more marked than my coin.

There is one finer 1880-S $20, and it is a stunning PCGS/CAC MS65+ which has sold three times since 2019. The most recent APR is from 8/2024, and it was for $132,000.

As you will note below, I absolutely ripped this coin in a recent Heritage auction. I’m marking it up 40%, which is still 10% less than what it brought in its previous auction appearance; see below.

This is a fantastic coin which will be a highlight of its new owner’s set of Liberty Head double eagles or a Box of 20.

Ex Heritage 11/2024: 3929, where I purchased it directly for $49,200, and earlier sold as Lot 3331 in Heritage’s 2/2022 auction, where it sold for $72,000.

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