1861-S $20 Liberty Head Double Eagle NGC AU58

Writing in 2020, Doug Winter said, "I’d rank Civil War gold as one of the more popular ultra-specialties in American numismatics."

This example, struck during the Civil War, would be an exciting addition to your numismatic collection. PCGS has graded 68 as AU58 with 44 finer. Collectors Universe gives this issue a price of $10,000.00 in AU58. In CAC, there are 25 in AU58 with 12 finer. CAC prices this issue at $9,600.00 in AU58.

This early issue from the San Francisco Mint has great eye appeal with its original honey golden coloration. Even though this issue had a substantial mintage of 748,750, NGC has only certified and graded 923 original examples. What could explain this? It is common for gold and silver coins to be hoarded in difficult times, and the Civil War was certainly a difficult time. And the lack of certified examples today suggests extensive melting of the 1861-S issue after the hoarding.

San Francisco Mint, “Running the gold into ingots.” Hutchings’ Illustrated California Magazine, October 1856. Image: Library of Congress.