The 1885-S Liberty Head Double Eagle is a fascinating coin for collectors and history enthusiasts alike. Minted in San Francisco, this coin not only represents a significant period in American history but also has a unique story filled with intrigue, scandals, and the evolution of coin collecting. This guide will explore its history, design, and current market trends, making it easy for you to understand why this coin is so sought after by collectors.
History of the 1885-S Liberty Head Double Eagle
In 1885, the San Francisco Mint faced challenges with its gold and silver deposits, resulting in a 25% decrease in the production of double eagles compared to the previous year. Only 683,500 of the 1885-S Liberty Head Double Eagles were produced. Most of these coins entered circulation, while many were exported to pay for international goods. Some were set aside to back gold certificates, making them significant in both economy and numismatics.
However, the year was not without controversy. A scandal erupted involving the San Francisco Mint’s melter and refiner, leading to the suspension of Superintendent Col. E.F. Burton. Judge Israel Lawton took over his position, and O.D. Munson was replaced by J.W. Twiggs. The investigation revealed that a dishonest employee had been creating underweight gold ingots to steal precious metal. This incident cast a shadow over the mint during a time when trust in the U.S. currency system was crucial.
Market Trends and Rarity
Initially, the 1885-S Liberty Head Double Eagle was considered rare in Mint State. Coin dealer David W. Akers noted in 1982 that only a few dozen uncirculated examples were known. However, the situation changed dramatically in the 1980s and 1990s when large quantities of uncirculated coins were repatriated, increasing their availability in the market.
In 1968, a brilliant uncirculated example was advertised for $75, a far cry from today’s market prices. Since 2010, the number of MS64 or better 1885-S Liberty Head Double Eagles has risen significantly, partly due to the Fairmont Collection, a vast hoard of U.S. gold coins sold by Stack’s Bowers since 2018.
Noteworthy Specimens
The current population of 1885-S Liberty Head Double Eagles has some noteworthy examples, especially in higher grades like MS64 and MS65. Here are a few remarkable sales:
| Grade | PCGS Number | Sale Price | Sale Date | Collection |
|---|---|---|---|---|
| MS65 | #44882820 | $44,400 | April 6, 2022 | The Fairmont Collection – Hendricks Set |
| MS64+ CAC | #47144640 | $10,200 | November 15, 2023 | The Fairmont Collection – Kronen Set |
| MS64+ | #47961070 | $10,200 | August 9, 2023 | The Fairmont Collection – Rhone Set |
| MS64+ CAC | #46563703 | $14,400 | March 22, 2023 | The Fairmont Collection – CAG Set |
| MS64+ | #45944751 | $18,000 | November 2, 2022 | The Fairmont Collection – CBL Set |
These sales highlight the growing interest and investment in high-quality specimens of this coin.
Design Features of the 1885-S Liberty Head Double Eagle
The design of the 1885-S Liberty Head Double Eagle is as striking as its history.
Obverse Design
The obverse features a left-facing profile of Lady Liberty, with her hair elegantly styled in a knot. She wears a coronet that says “LIBERTY.” Surrounding her are 13 six-pointed stars, symbolizing the original colonies, with the year 1885 below her portrait.
Reverse Design
The reverse displays a heraldic eagle surrounded by a semi-circle of sunbeams. The words “IN GOD WE TRUST” are inscribed alongside 13 stars. The eagle’s shield is flanked by scrolls containing the motto “E PLURIBUS UNUM,” with “UNITED STATES OF AMERICA” and “TWENTY DOLLARS” encircling the design. The mintmark “S” is placed above the denomination, indicating it was minted in San Francisco.
Edge Design
The edge of the coin is reeded, adding a distinctive touch that enhances its quality and makes it easily recognizable.
The Designer: James Barton Longacre
James Barton Longacre was the engraver behind the design of the 1885-S Liberty Head Double Eagle. Appointed as the Chief Engraver of the U.S. Mint, Longacre created many iconic designs, including the Flying Eagle Cent and the Indian Head Cent. His artistic contributions have left a lasting legacy in American numismatics.
Conclusion: The Significance of the 1885-S Liberty Head Double Eagle
The 1885-S Liberty Head Double Eagle is not just a coin; it’s a piece of American history that reflects the challenges of its time. Its unique design and the circumstances of its minting make it a valuable collector’s item today. With a growing number of high-grade specimens entering the market, collectors are more interested than ever in owning this significant piece of U.S. currency. Whether you’re a seasoned numismatist or a newcomer to coin collecting, understanding the 1885-S Liberty Head Double Eagle can deepen your appreciation for American history and art.
Frequently Asked Questions (FAQ)
What is the 1885-S Liberty Head Double Eagle?
The 1885-S Liberty Head Double Eagle is a $20 gold coin minted in San Francisco. It features a portrait of Lady Liberty on the front and a heraldic eagle on the back, making it a significant piece in American numismatics.
Why is the 1885-S Liberty Head Double Eagle considered rare?
The coin’s rarity stems from a decline in gold and silver deposits at the San Francisco Mint in 1885, leading to a decrease in its production. Although 683,500 were minted, many have been lost or damaged over time, making uncirculated examples hard to find.
How has the market for the 1885-S Liberty Head Double Eagle changed?
Initially considered rare in Mint State, the market saw a significant increase in high-quality specimens in the 1980s and 1990s due to the repatriation of large hoards. Today, the demand for MS64 and MS65 coins has grown, particularly among serious collectors.