by Greg Reynolds for CoinLink

An 1879-S Double Eagle ($20 gold coin) is ‘in the news’ as the finest certified piece is being offered by Heritage tonight, Friday, Sept. 28, 2007. Heritage is conducting the official auction of the Long Beach (CA) Coin, Stamp and Collectible Expo. Although I could not attend the Long Beach Expo this time, I did have the pleasure of closely examining this exact same coin in the past.

Numerous abrasions and contact marks are almost always expected on gold coins, especially large ones. Gold is a very soft metal. This 1879-S has very few light, short hairline scratches. Sure, a coin expert would notice these very few scratches, even without a glass. I have seen, however, many certified MS-65 grade Double Eagles that have more scratches. Furthermore, almost all Double Eagles have at least a few small, circular contact marks, often from contact with other coins. This Double Eagle does not seem to have almost zero such contact marks. Besides, no one expects a MS-64 grade coin to look perfect. Even a MS-67 grade Double Eagle would typically have a few marks and light scratches.

This coin is sharply struck. Certainly, Miss Liberty on this coin has more hair detail than do most of her cousins on other San Francisco Mint Double Eagles of the third design type, minted from 1877 to 1907.

This coin is really special as a result of its dazzling luster. I was mesmerized when I gently tilted it under a light. There is just no way to fully describe the incredible way that rays of light shoot back from the coin. While ‘dazzling’ is the best word, it is also fair to say that the coin seems alive.

It is graded MS-64 by the Professional Coin Grading Service (PCGS). It is the only 1879-S Double Eagle that is PCGS graded MS-64 and the Numismatic Guaranty Corp. (NGC) has not even graded one as MS-64. Neither the PCGS nor the NGC have graded an 1879-S Double Eagle as MS-65 or higher.

I would not be surprised if some people believe that this coin deserves a higher grade. In my view, it should not receive a higher grade.

It is not a rare date. There are probably more than one thousand 1879-S Double Eagles in existence. An overwhelming percentage of these grade from EF-45 to AU-58. There are two NGC certified AU-58 1879-S Double Eagles in this same auction.

There are several 1879-S Double Eagles that are prooflike, or semi-prooflike with thin reflective surfaces. This coin is not at all prooflike. On the contrary, it reflects light in a way that is definitely indicative of a business strike.

This 1879-S is strongly brilliant with a moderate amount of light, mellow toning, especially yellowish grass-green and russet. It is more than very attractive, and seems very much alive.

©2007 Greg Reynolds