1864 Double Eagle $20 NGC XF45. Struck in the last full year of the American Civil War, the 1864 double eagle is a scarce coin with a very interesting history, which it shares with a number of similar issues from the same era. The Philadelphia Mint struck a total of 204,235 double eagles this year, an increase from the previous year, but nowhere near the number of double eagles that the San Francisco Mint turned out each year.

In the east, circulation of gold, silver and eventually copper coinage was virtually non-existent, as the difficult times had led to nationwide hoarding of precious metals, in particular coins. As such, while the Mint did receive gold and silver bullion to strike coins, these would not be seen in commerce until several years after the Civil War. That said, these large and heavy gold coins did circulate from bank to bank, where many acquired large and heavy marks, now a common sight with these relatively scarce coins.

Despite the average mintage and the virtual non-circulation of these coins at first, the 1864 double eagle is a scarce issue in higher grades, and virtually unknown in uncirculated condition. Q David Bowers has estimated that no more than three to five double eagles of this year exist in Mint state, the finest being MS-62. Even About Uncirculated coins, and to a lesser extant Extremely Fine graded coins are scarce and not easily found, especially with excellent eye appeal.

The present coin is such an appealing, lightly circulated coin, which should please every conscious buyer. Despite the grade indicated on the holder, we still see traces of luster in the protected fields, which is a further addition to the desirability of the present piece. Light orange golden toning highlight both sides, which are free of any noticeable marks, except for a few that always come at this grade level. A desirable and scarce coin, with excellent eye-appeal, certified by NGC in a new holder.