1862-S $20 (1862-S Double Eagle) NGC MS61. The rarity of this issue in mint state has been largely stated in the modern references on the series. Yet, with a mintage of 854,173 pieces it seems strange why it would be so rare in this grade of preservation. But, both the American Civil War raging in the eastern states and a still immense output of gold in California saw a need for the large coinage of this particular issue. A continuing and steady commerce in the western states further added for the need of large gold coinage, and many pieces thus circulated for at least enough time to be downgraded to about uncirculated and lower grades. As such, any offering of an example of this issue in mint state should be considered with great care by the specialist.

Pedigreed to the Richmond collection, this piece has remained in original condition since its mintage. The fields are remarkably clean for the great, and the strike is superb. Luster is full through out, and as can be expected for the great no luster breaks are noted at any point of the coin. In some of the protected area’s some darker patches are seen, which confirm the originality of this piece. Many similar coins have been dipped and subsequently upgraded, making this one of the few truly uncirculated pieces currently on the market. This coin should be considered with great care, as it might be a long time before it will reappear.

In its population report as of March 2011, CAC shows 1 in MS61 with 1 better.