Underappreciated Type 2 Double Eagle

With each new purchase for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post. Additional images of the coin and holder will also be provided in the journal. I may even post about interesting coins that have been in the collection for many years.

Type 2 double eagles were minted in Philadelphia and San Francisco from 1866 until 1876. Carson City also minted Type 2 double eagles from 1870 to 1876, though in much smaller quantities compared with the other two mints. The most obvious difference compared with the earlier type is that the reverse has the motto "IN GOD WE TRUST" within the star above the eagle. Unlike Type 1 twenties which are available in mint state grades due to the recovery of coins from several shipwrecks, Type 2 twenties are scarce, especially coins minted prior to 1873. For decades, double eagles have been repatriated to the United States from European vaults, however, the quantity and quality of repatriated Type 2 issues are considerably less than that of Type 3 double eagles.

Type 2 double eagles minted from 1866-1872 are generally found with severe and deep abrasions caused by contact with other coins due to their large size and soft gold composition. A vast majority of 1872-S twenties are found in the AU grade range. Occasionally, uncirculated examples are available, but in the lowest mint state grades.

The 1872-S $20 in the Grandview collection was graded by NGC as MS61, and is among 76 examples in 61 and just 9 finer. CAC has approved 7 coins in 61 and 1 finer. I really like this coin because it has only minor abrasions and very appealing yellow gold luster, which is not typical for the grade. The coin is choice for the grade, and has to be among the most eye appealing examples for the date.

A link to Images of the 1872-S double eagle from Grandview Collection is shown below.

http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1506368

http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968