1892-S Liberty Head Double Eagle. Gold Saddle Ridge Hoard Label. MS-65 (PCGS). CAC.
This charming Gem ranks among the finest 1892-S twenties known to PCGS and CAC. The surfaces are vivid golden-rose and both sides are enhanced by swirling mint luster. Fully struck and exceptionally well preserved for an issue that is typically offered no finer than MS-64. By the eve of the Panic of 1893, double eagles were mostly used in foreign payments and not often seen in domestic circulation. The 1892-S issue is no exception; the majority of the 930,150 coins produced were shipped to Europe and South America. Fortunately for numismatists, many of the examples that came back to the United States after World War II are Mint State, though bagmarked from years of being counted and recounted and moved around in large sacks. Unmarred examples are scarce and quite a challenge to obtain. This important coin entered the numismatic market not through repatriation, but as part of the famous Saddle Ridge Hoard. One of the most significant gold coin finds of recent decades, the Saddle Ridge Hoard was discovered in 2013 in the Sierra Nevada Mountains east of San Francisco. A couple were out enjoying a February walk with their dog on a trail that ran along the ridge when they spotted a metal can near an old tree. Digging with a stick, they uncovered a sealed can they originally thought was full of lead paint due to the weight. They brought it back to their residence where they found it was full of double eagles. They returned to the site, this time armed with a metal detector. All told, the property owners found 1,427 coins contained in six cans totaling $27,980 in face value. Preferring to remain anonymous, the finders carefully reburied the coins then contacted Tiburon, California coin dealer Donald Kagin, whose firm helped evaluate the hoard and arrange for conservation as well as the eventual disposition of those pieces not retained by the family as mementos. The coins first became available for sale through Kagin's and Amazon.com on the evening of May 27, 2014, and within 72 hours, half were sold. The hoard contained coins ranging in date from 1847 to 1894 in varying states of preservation, with all but 54 pieces being double eagles. Among those, some 416 1889-S double eagles were found, comprising the vast majority of the issues recorded. Almost all of the coins were from the San Francisco Mint, indicating that they were obtained locally, with a few stragglers, including a scarce 1849-D half eagle and an 1847-O eagle. Many Mint State coins were uncovered, including rarities such as the finest known 1866-S No Motto double eagle. Speculation as to the origins of the hoard has included attributing the coins to the 1901 theft of $30,000 in gold from the San Francisco Mint, although mint officials have determined that there is no connection between the hoard and that theft. Regardless of its origins, the Saddle Ridge Hoard will go down in the annals of numismatic and treasure hunting lore as the largest such find of buried gold ever found in the United States. This lovely Gem from the Saddle Ridge Hoard is one of the finest 1892-S double eagles known. A highlight of the extensive gold offerings in this sale, it would serve with distinction in the finest numismatic cabinet.
PCGS# 109021. NGC ID: 26C7.
PCGS Population: 19; 5 finer (all MS-65+). CAC Population: 7; 0.
Ex Saddle Ridge Hoard.

Estimate: $20000