1894 Liberty Head Double Eagle. MS-63 (PCGS). CAC.Billowy mint frost mingles with vivid rose-gold patina on both sides of this sharply struck, exceptionally attractive example. The mintage for this issue was 1,368,940 pieces, up more than one million coins over the previous years tally of double eagles at Philadelphia. Face value amounted to $27,378,800, most of which found its way overseas in banking and other transactions. Indeed, the great exodus of double eagles from the American Treasury continued, approaching a crisis state. The problem was the Morgan silver dollar. Overseas treasuries and banks continued to fear that the government would settle its debts in these coins worth less than half face value when melted down. Large numbers of 1894 double eagles have been repatriated in recent decades, and we estimate some 15,000 to 25,000 Mint State examples of the date can be found today. Most grade MS-60 to MS-62; with MS-63 pieces, as offered here, being moderately scarce.From the Fairmont Collection.
