LIBERTY
HEAD (NO MOTTO ON REVERSE) TWENTY DOLLARS OR DOUBLE EAGLE
(1849-1866)
1851 Double Eagle
1851
Double Eagle
PCGS
No:
8904
Circulation
strikes Mintage:
2,087,155
Proofs:
none
Designer:
James Barton
Longacre
Diameter:
±34
millimeters
Metal
content:
Gold - 90%
Other - 10%
Weight:
±516
grains (±33.4 grams)
Edge:
Reeded
Mintmark:
None (for Philadelphia,
PA) below the eagle's tail on the reverse.
Introduction:
With gold rushing in from California, the production
of double eagles soared to a level that would not be
exceeded until 1861. A large number of coins was produced,
but the vast majority of 1851 double eagles did not
survive. Of the coins seen today, most are heavily worn.
Examples were found on the S.S. Central America and
the S.S. Republic, nearly all of which were circulated.
High-grade 1851 double eagles are very rare, with only
two dozen coins known in choice condition. The highest-grade
1851 double eagle certified to date has been MS-64.
An example in that grade sold in early 2004 for $29,900. Key to Collecting: The 1851 double
eagle posted a record high mintage to this point, the
result of a vast influx of precious metal from California. Aspects of Striking: Sometimes lightly
impressed at the border, but usually well struck overall.
No one rule fits ill, as multiple die pairs and press
runs were involved. Die Data: 1851 four-digit date logotype
with numerals widely and fairly evenly spaced; top and
bottom openings of 8 about the same size; 5 with upright
slightly slanting, knob close to upright, touching on
deep impressions; base of 2nd 1 slightly low. Used on
all dies for both mints. Various date logotype positions
exist on working dies. 13 obverse and 33 reverse dies
were made.
Auction Appearances
and Collateral Evidence: ANA Convention Sale (Stack's, August
1976) Lot 3161: "1851 Light die crack across die
bottom of the date and then upwards to stars 12 and
13. Brilliant Uncirculated and superb. Virtually in
a class with the preceding coin." 52,500. Later
appearance: Harry W. Bass Jr. Collection Part m (Bowers
and Merena Galleries, May 2000) Lot 764 "1851 MS-63
(PCGS)...." Realized S14.950. Auction '85 (Stack's,
July 1985) Lot 1954: "1851. Gem brilliant Uncirculated.
Full frosty mint bloom and exceptionally well struck.
Color resembles the coin discovered in the Baltimore
Find a half century ago. Ex Stack's January 1985 Sale,
Lot 1110." This indicates that the cataloguer at
Stack's (probably Norman Stack) had seen a particular
specimen from that long-ago hoard. Realized $8,250. Gold Rush Treasure from the S.S. Central America
(Christie's, catalogued by QDB, December 2000) Lot 78:
"1851 MS-60 {PCGS). This is the single finest example
among 29 from the S.S. Centra? America treasure graded
by PCGS. Date logotype nicely impressed, 5 'open,' top
of first 1 marginally farther from truncation than bottom
is from dentils, left edge of lower serif over left
edge of dentils. On the reverse, the crossbar of the
A in STATES is tenuous at its right side, die crack
from rim above M juts down and unites Lemu* Collection of U.S. Gold Coins
(Stack's, June 2001) Lot 439: "1851 Gem Brilliant
Uncirculated. A superior grade specimen..,. Acquired
privately in 1977." Realized $6,038.
Number of Appearances:
184 (42%)
Auction Records:
(37) Unc: Stack's 9 81; Auction '81
(3), Auction '80: NASCA 4/80; Stack's 2/80; Auction
'79; New England 3/79, 11/78; Paramount 11/77; ANA
1977; Paramount 2/77; ANA 1976 (2); Paramount 5/76;
AAA6/75; PineTree2/75; Stack's 11/12/74; Superior
10/74; Stack's 6/74; AAA 2/74; Gilhousen 1973; Alto
1970; Stack's 10/70, 6/70, 3/69; Miles 1968; Merkin
/68; Stack's 6/66; Ward 1964 (2); Bell 1963; MC 1948;
Bell 1944; Flanagan 1944; Roach 1944
(25) AU:
Stack's 3/81; Superior 2/81; ANA 1979; B&R 4/79;
Superior 10, 78; Stack's 5'78; Hughes 2;78; Stack's
3/77, 3/76; AAA 11/74; Superior 10/74; Scanlon 1973;
Gilhousen 1973; Stack's 6/72; ANA 1971; Merkin 9/67;
Stack's 4/67; Ward 1964 (2); Walton 1963; Holmes 1960
(2); Kern 1950; Lee 1947; WGC 1946
(58) EF:
Stack's 6/81; Kreisberg 9' 80; New England 7/80; Coin
Galleries 6/80; Stack's 2/80(2), 12/79; NASCA 10/79
(2); Stack's 10/79, 9/79 (2), 6/79; ANA 1978; New
England 7/78; Stack's 6/78; Hughes 2/78; Pine Tree
1/78; RARCOA 1/78; Kagin's 10/77; Stack's 9/77; New
England 7/77; Stack's 6/77, 2/77; ANA 1976; Stack's
5/76, 4/ 76; ANA 1975; Paramount 11/74; Superior 10/74;
ANA 1974; Ullmer 1974; Stack's 2/74 (2); ANA 1973;
Stack's 2/73; Paramount 2/73; RARCOA 2/72, 5/71; Paramount
11/70; Stack's 9/70; Paramount 9/70; Stack's 6/70;
Paramount 5/70; DiBello 1970; Paramount 2,/70; ANA
1969; Stack's 5/69, 5/68; Kreisberg 9/67; Stack's
10/66; Bolt 1966; Stack's 2/65; Ward 1964 (3); Cicero
1960; ANA 1956
(57) VF:
New England 10/81; Coin Galleries 9/81; B&R 1/81;
Auction '80; Stack's 3/80, 12/79, 2/79, 10/78, 2/78,
12/77, 9/77; ANA 1977; B&R 6/77; Stack's 2/77;
Coin Galleries 4/ 76, 11/75; ANA 1975; Pine Tree 6/75;
Stack's 4/30/75, 4/4/75; Kreisberg/Cohen 9/73; Paramount
5/73; Stack's 12/72, 2/72; Shapero 1971; Kreisberg
Cohen 9/71; Stack's 4/71: Kreisberg/Cohen 11/70; Kosoff
2/70; Stack's 1/70; Shuford 1968; Stack's 11/67, 6/67;
Kreisberg 4/67; Stack's 3/67, 6/66; Kosoff 10/65;
Kreisberg 6/65; Ward 1964; ANA 1963; FUN 1963; Golden
1963; Wolfson 1962; Golden 1962; Cicero 1960 (2);
Melish 1956 (2); Baldenhofer 1955 (2); Farouk 1954;
Menjou 1950; MC 1948; Neil 1947; Hall 1945; Dunham
1941; Ten Eyck 1922
Comments: The 1851 double eagle is one of the most
common of all Type I Double Eagles, roughly comparable
overall to the 1850, 1852 and 1853 but more rare than
the 1861 which ranks as the most common date of the
type. Although most available specimens typically
grade VF or EF. high grade examples can be obtained
fairly easily. Mint state pieces are very scarce but
15 or so years ago, it was not unusual to receive
uncs regularly from Europe. Admittedly they have become
widely dispersed over the years but they are still
out there in the hands of collectors, dealers and
investors. Of course, gem quality uncs are rare and
although occasionally seen, were never available in
any quantity. To the best of my knowledge, no proof
has ever been reported and I doubt if any were ever
struck.
