1869-S Liberty Head Double Eagle. AU-53 (PCGS).

1869-S Liberty Head Double Eagle. AU-53 (PCGS).，An attractive honey-gold example with plenty of satiny mint luster evident as the surfaces rotate under a light. Striking detail is suitably bold for a Type II double eagle, especially in and around the centers, and the eye appeal is superior for a San Francisco Mint Liberty Head gold coin that saw actual commercial use. The double eagles of 1869 played a pivotal role in one of the most famous financial events of the modern era. In 1869, speculators Jay Gould and James Fisk attempted to corner the market in gold and manipulated various Treasury officials to help keep the price of gold artificially higher than normal by preventing government gold holdings from entering the commodities market, ostensibly to allow domestic farmers to have a competitive advantage in foreign markets. In the meantime, Gould and Fisk bought so much interest in the precious metal that the market premium on a single double eagle was one-third higher than it was at the outset of the year. By September of that year, President Grant discovered the true reason for the withholding and immediately ordered the release of $4,000,000 in gold, primarily in the form of double eagles, on Friday, September 24. The release ruined many investors and speculators and a new expression, Black Friday, entered our lexicon. Most examples of the 1869-S eventually saw considerable commercial use, premium Choice AU survivors such as this scarce and Mint State examples rare.，，