1861 $20 MS 64

Description

Amazing full original gold luster! One of the most incredible coins we’ve ever handled. Just turn back the clock…1861 was the year the Civil War started. So most people were concerned about the war…and financial survival. They didn’t have the desire and couldn’t afford to save $20 for a rainy day. Average salaries for a laborer was about $300 a year, and Union soldiers were getting $11 a week ($572 a week). The Mint started minting $20 gold pieces in 1850. Two things happened with these coins in the first thirty years or so of the minting gold twenties. First, the coins were widely used and not saved. In fact, it has been said that at this time, more so than any other in American history, the $20 gold coins Were used in domestic commerce. So most survivors are now worn and/or pretty marked up. Secondly, large quantities were used in foreign exchange and were exported to Europe. The many gold coins that were exported…mostly to London (the world center of gold trading at the time), but also other European areas and also South America…were melted upon arrival. Abundant records of this era inform us that when foreign gold coins arrived in England they were usually melted down to make English coins. The bottom line is that these early Twenty Liberties are truly rare in Uncirculated condition…and ultra rare in Choice or Gem condition. This is an incredible coin. The original gold luster has to be seen to be believed. We look at a lot of $20 gold pieces…literally thousands a year. But the luster on This amazing coin is as good as gets for any date!!! There are a few really minor marks on the obverse…hence the MS64 grade. The reverse is more like MS66. The strike is truly amazing…every star has full detail…the eagle’s feathers are razor sharp. This is a totally amazing Civil War gold piece