The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
The first 19,250 double eagles coined in San Francisco early in 1861 had the special Paquet Reverse design. Once word was received to discontinue using that special reverse die, another 768,000 coins were minted with the normal Longacre reverse design. At the time they were struck, there were few if any collectors in San Francisco to preserve those coins, and virtually the entire mintage quietly slipped into the channels of commerce. The small number of Mint State coins known today, including the present example, survived purely as a matter of chance. For a denomination of such high value as a twenty dollar gold coin, the chance of survival is diminished further because of the significant face value of the coin. It was a lot of money at the time, and few could afford to have any similar pieces preserved for the future.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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