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New Purchase 1858 $20 AU53

BloodManBloodMan Posts: 1,839 ✭✭✭✭✭
I recently purchased an 1858 $20 which NGC graded AU53. This date is not a common date, but definitely not a rarity in this series. PCGS and NGC have combined to grade 593 total in all grades. The dealer described the coin as semi-prooflike. NGC has not assigned the PL designation to any 1858 twenties.

Overall, the reverse is more “prooflike” than the observe, partly due to the numerous small contact marks in the unprotected fields. Coins with reflective fields have a tendency to show even the smallest scratches and exaggerate the larger ones. Images of the coin are below. Several lighting conditions are shown for the obverse.

On the reverse, die polish lines are evident on the reverse across the stars and rays (see close up). Many of the letters on the reverse periphery, show an unusual internal “roughness”. For example, the “S”, “A”, E” and “S” in STATES and “A”, “E”, “R” and “A” in AMERICA. A high-resolution image of the “ER” in AMERICA in shown below.

What causes this “roughness” in the closed portions of the letters? Is it because the die was not polished completely over the letters? Since this is likely an early die state due to the die polish lines and reflective fields, would the roughness dissipate with subsequent strikes?

Any comments welcome.


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Comments

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    Very nice gold.
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    RYKRYK Posts: 35,801 ✭✭✭✭✭
    Nice. I am a big fan of Type I $20's.
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    robkoolrobkool Posts: 5,934 ✭✭✭✭✭
    The coin in question appear to be an early die struck coin, since PL surfaces exist. I'm not sure if those die polish lines would disappear from later die strikes. The roughness around the letters would smooth out from later strikes tho...
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    fcfc Posts: 12,805 ✭✭✭
    i like the coin i just do not tend to agree with the grade.
    the rev is much nicer looking compared to the obv, to my eyes.. but
    the obv is most of the grade in many cases. the reverse can only
    hurt not raise.

    i like it as a xf45.
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    BloodManBloodMan Posts: 1,839 ✭✭✭✭✭
    To help answer the question regarding the roughness within the lettering, I evaluated many of the AU and MS 1858 $20’s in the Heritage archive. A surprising number had some degree of roughness within the reverse peripheral lettering.

    For comparison, the 1858 MS61 from the Eagle Collection is shown below (right). The MS61 was described as having “traces of semi-prooflikeness” which would likely make it less prooflike than the AU53 shown here and could indicate an earlier die state. Consistent with this notion is that some of the lettering of “STATES” on the MS61 coin is no longer exhibiting the roughness, while “AMERICA” has a similar pattern. The weakness of the strike on the MS61 may also be contributing to the differences.

    Any comments welcome.


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    fishteethfishteeth Posts: 2,267 ✭✭✭✭✭
    Cool coin, sounds like you have quite a set growing.

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    Nice.. especially the 8 in the denticles. image
    Coinborg: Your distinctive coins will be added to my collection.
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