1885-S Liberty Head Double Eagle : A Collector’s Guide

By Charles Morgan and Hubert Walker for CoinWeek Notes …..
 

Gold and silver deposits at the San Francisco Mint declined in 1885, causing a 25% decrease in double eagles struck year-to-year. In total, San Francisco produced 683,500 1885-S Liberty Head Double Eagles. Most entered circulation, with many being exported to pay for international goods. Others were reserved for backing gold certificates.

In a matter of numismatic interest, a public scandal involving the San Francisco Mint melter and refiner unfolded in 1885, leading to the August 1 suspension of Superintendent Col. E.F. Burton, the appointment of Judge Israel Lawton as his replacement, and the replacement of assayer O.D. Munson by J.W. Twiggs. Upon investigation, the United States Mint determined that the dishonest employee created purposefully underweight ingots that were still within the legal tolerance to steal the leftover precious metal.

Coin dealer David W. Akers knew of only a few dozen uncirculated examples offered at auction when he wrote his 1982 reference. Indeed, the 1885-S double eagle was rare in Mint State until large quantities of uncirculated coins were repatriated in the 1980s and ’90s.

In the April 1968 issue of Numismatic Scrapbook Magazine, New York dealer M.L. Kaplan advertised a brilliant uncirculated example for $75.

Since 2010, the population of MS64 or better 1885-S Liberty Head Double Eagles has increased significantly. Driving the growth of MS64+ and MS65 coins at PCGS has been the Fairmont Collection, a massive hoard of classic U.S. gold coins of unpublicized origin that the firm Stack’s Bowers has been selling regularly since 2018.

Two MS64+ 1885-S Liberty Head Double Eagles have been added to the NGC census since July 2023.

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1885-S Liberty Head Double Eagle Market Data and Noteworthy Specimens

Top Population: PCGS MS65 (3, 10/2024), NGC MS64+ (2, 10/2024), and CAC MS64 (12:1 stickered:graded 10/24).

• PCGS MS65 #44882820: “The Fairmont Collection – Hendricks Set,” Stack’s Bowers, April 6, 2022, Lot 5456 – $44,400; GreatCollections, September 1, 2024, Lot 1304522 – $37,125. The Fairmont Col. on insert.
• PCGS MS64+ CAC #47144640: “The Fairmont Collection – Kronen Set,” Stack’s Bowers, November 15, 2023, Lot 5349 – $10,200. The Fairmont Col. on insert.
• PCGS MS64+ #47961070: “The Fairmont Collection – Rhone Set,” Stack’s Bowers, August 9, 2023, Lot 1398 – $10,200. The Fairmont Col. on insert.
• PCGS MS64+ CAC #46563703: “The Fairmont Collection – CAG Set,” Stack’s Bowers, March 22, 2023, Lot 5348 – $14,400. The Fairmont Col. on insert.
• PCGS MS64+ #45944751: “The Fairmont Collection – CBL Set,” Stack’s Bowers, November 2, 2022, Lot 7379 – $18,000. The Fairmont Col. on insert.
• PCGS MS64+ CAC #45184692: “The Fairmont Collection – JBR Set,” Stack’s Bowers, August 23, 2022, Lot 3482 – $16,800. The Fairmont Col. on insert.
• PCGS MS64+ CAC #35465137: “The Fairmont Collection,” Stack’s Bowers, August 15, 2018, Lot 1379 – $9,000. The Fairmont Col. on insert.
• PCGS MS64+ CAC #35465063: “The Fairmont Collection,” Stack’s Bowers, June 21, 2018, Lot 262 – $16,800. The Fairmont Col. on insert.

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Design

Obverse:

As the largest circulating denomination in the United States, the double eagle makes quite the statement. The obverse features a stoic left-facing profile portrait of Lady Liberty. Her hair is held up in a knot, with curling locks falling down the back of her neck. Lady Liberty also wears a coronet inscribed with the word LIBERTY. Encircling the bust are 13 six-pointed stars representing the 13 original colonies. The date 1885 appears below the bust.

Reverse:

A heraldic eagle is in the center. A semi-circle burst of sunbeams extends from wingtip to wingtip, encompassing a circle of 13 six-pointed stars and the motto IN GOD WE TRUST. The eagle’s shield is bracketed by two large scrolls, one on each side that together contain the motto E PLURIBUS UNUM. Ringing the main design are the legend UNITED STATES OF AMERICA and the denomination TWENTY DOLLARS. The S mintmark of the San Francisco Mint appears above the gap between TWENTY and DOLLARS.

Edge:

The edge of the 1885 Liberty Head Double Eagle is reeded.

Designer

James Barton Longacre (1794-1869) was one of the most famous U.S. engravers and medallic artists of the 19th century. Longacre was appointed the fourth Chief Engraver of the United States Mint by President John Tyler after Christian Gobrecht died in 1844. Before his appointment, Longacre worked for the Philadelphia engraving company Murray, Draper, Fairman & Co. until he began working for himself in 1819. As an independent engraver, Longacre produced a series of famous plates that featured the Founding Fathers, President Andrew Jackson, and Senator John C. Calhoun. Once he became Chief Engraver at the Mint, he produced such famous pieces as the Flying Eagle Cent, the Indian Head Cent, and the Shield Nickel.

Coin Specifications

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