The 1859 S Type I $20 Gold Double Eagle, featuring the Doubled Die Obverse and graded NGC AU58, is a rare and highly sought-after coin. Not only is this coin historically significant, but its unique doubled die feature adds to its rarity and desirability among collectors. With a price tag of $8,500, this coin is a valuable piece of American history. In this article, we’ll explore its historical background, key design features, coin grading, and its value in today’s market.
Historical Significance of the 1859 S $20 Gold Coin
The 1859 S $20 Gold Double Eagle was minted during an important time in U.S. history, just before the outbreak of the Civil War. The San Francisco Mint, where this coin was struck, was created to handle the large amounts of gold being mined during the California Gold Rush. The Type I Double Eagles were first minted in 1850 and remained in production until 1866. These coins were used in everyday commerce, particularly for large transactions.
What sets the 1859 S apart from other coins is the Doubled Die Obverse error. This occurs when the coin’s design is accidentally struck twice, slightly off from the first impression, causing a doubling effect on the front (obverse) of the coin. This type of mint error is rare and highly prized by collectors, as it makes the coin unique.
Design Features of the 1859 S $20 Gold Type I
The 1859 S Type I $20 Gold Double Eagle is known for its classic American design that reflects the values of the time. Here’s a closer look at the design features:
| Feature | Description |
|---|---|
| Obverse (Front) | Features Lady Liberty wearing a coronet inscribed with the word “LIBERTY.” The doubled die error may show slight doubling on the date or other parts of the design. |
| Reverse (Back) | Displays a majestic eagle with a shield on its chest, clutching an olive branch and arrows. Above the eagle are the words “UNITED STATES OF AMERICA” and “TWENTY D.” |
| Edge | The coin has a reeded edge to discourage counterfeiting. |
Doubled Die Obverse Explained
The Doubled Die Obverse on the 1859 S coin is what makes it especially rare. This error occurs when the die (the tool that strikes the coin) imprints the design onto the coin twice but slightly misaligned. On this particular coin, you can see the doubling in areas like the date and some of the lettering. This kind of mint error is highly prized because it’s unusual and adds a layer of uniqueness to the coin.
Understanding the NGC AU58 Grade
When it comes to collectible coins, the condition is a major factor in determining value. This coin is graded AU58 by the Numismatic Guaranty Corporation (NGC). Here’s what that means:
| Grade | Description |
|---|---|
| AU58 | Almost Uncirculated; slight wear but nearly all original details. |
| MS60 | Mint State; no wear, but minor marks may be present. |
| MS70 | Perfect Mint State; flawless with no visible imperfections. |
PCGS AU58 Explained
- AU58: This grade means “Almost Uncirculated 58.” It indicates that the coin has some minimal signs of wear on the highest points of the design, but it still retains most of its original luster. Coins with this grade are highly collectible because they are close to mint condition while still showing some slight use.
Rarity and Value of the 1859 S $20 Gold Type I
The 1859 S Type I $20 Gold Double Eagle is a rare coin, especially with the Doubled Die Obverse. The San Francisco Mint produced only 636,445 of these coins, and finding one in AU58 condition with a mint error is even rarer.
| Rarity | Details |
|---|---|
| Mintage | 636,445 coins produced |
| Value | Priced at $8,500 for the NGC AU58 example |
As of today, this coin is valued at $8,500 due to its unique characteristics, condition, and historical significance. Its rarity, combined with the doubled die error and the fact that it was minted during the California Gold Rush, makes it a coveted piece among serious collectors.
What Makes It Valuable?
The Doubled Die Obverse error is a key factor in this coin’s value. Mint errors like this one are rare, and usually only a small number of these coins exist in good condition. Additionally, the coin’s association with the California Gold Rush and the history surrounding the San Francisco Mint adds to its value and appeal.
Conclusion
The 1859 S Type I $20 Gold (Doubled Die Obverse) coin is a rare gem that any collector would be lucky to own. Struck at the San Francisco Mint during a pivotal moment in American history, this coin represents both a historical artifact and a valuable collectible. With its doubled die error and a grade of NGC AU58, the coin is in excellent condition, making it highly desirable to numismatists. Whether you’re a seasoned collector or someone new to the world of rare coins, understanding the significance of this unique coin is key to appreciating its value. Priced at $8,500, it’s not only a piece of history but also an investment in rarity.
FAQ’s
What is the significance of the Doubled Die Obverse on the 1859 S $20 Gold coin?
The Doubled Die Obverse is a mint error where the coin’s design was struck twice, causing a doubling effect on the front. This makes the 1859 S $20 Gold coin unique and highly sought after by collectors.
Why is the 1859 S $20 Gold coin valued at $8,500?
The coin is valued at $8,500 due to its rarity, historical significance, and unique features like the Doubled Die Obverse. Its NGC AU58 grade indicates it is in excellent condition, making it a valuable collectible.
How many 1859 S $20 Gold coins were minted?
The San Francisco Mint produced 636,445 of the 1859 S Type I $20 Gold coins, but finding one in AU58 condition with a Doubled Die Obverse error is quite rare, increasing its desirability among collectors.