1886 $20 Liberty Head Double Eagle PCGS AU53

Based upon the most recent price realized at auction (Link to GC 1886 $20) the opportunity to acquire THIS specimen shouldn't be overlooked! It sold for $182,812.50!

A unique opportunity to acquire one of the rarest Liberty head double eagles!

The 1886 Liberty Head double eagle claims an extremely low mintage of 1,000 pieces, and the date is indeed among the rarest issues of the entire series. PCGS has graded 5 as AU53 with only 13 finer. Collector’s Universe prices this issue at $135,000.00 in AU53.

The bulk of production of twenties was the responsibility of the San Francisco Mint, as the Old West had a “hard money” economy. In fact, there were three years (1883, 1884, and 1887) that saw no Philadelphia business-strike mintage whatsoever. Unusual for the time, none of the branch mints struck double eagles in 1886, making the tiny Philadelphia output serve the nation for the year. The issue is difficult to find in any grade today.

In their Encyclopedia of U.S. Gold Coins 1795-1933, Jeff Garrett and Ron Guth write:

"This date is very popular due to the fact that in 1886 double eagles were produced only at the Philadelphia Mint. The large mintage expected from the San Francisco Mint did not materialize. The issue also possesses one of the lowest mintages of the Liberty Head series. Of the 1,000 coined, fewer than 40 are thought to exist today. Many of the classic-name collections of the past did not have a circulation example." PCGS estimates that there are between 40-60 surviving examples today.

The Second Philadelphia Mint, where this great rarity was produced in 1886. Photo: Wikimedia Commons.