Collectors of XIXth Century coins know how vast and complex the German States’ currency is. The mark was the only currency used in the German Empire from 1873 on, a couple of years after the Unification of Germany. Until the First World War, the value of a mark was linked to gold in a way that 2790 marks equaled 1 kg. of 0.900 gold.
The tiny Saxe-Meiningen duchy minted a few 20-mark gold coins in 1872, 1882, 1889, 1900, 1910 and 1914, and a few 10-mark gold coins in 1890 and 1898. The mintage of all these coins were only a few thousand each year, so they are all very rare nowadays. In fact, 20 marks 1889 is the commonest of them all even if only 4.032 specimens were minted.
This coin is very rare in such a good condition. However, some price references can still be found in the international market. I could find 4 reference hammer prices during the last 5 years: 12.000 euros in 2016, 13.750 euros in 2014, 12.000 euros in 2012 and 13.500 CHF in 2011. Hence, we can consider that 12.000 to 14.000 euros are reasonable hammer prices for the specimen in the auction.
Description from the seller
SACHSEN-MEININGEN, Georg II., 1866-1914, 20 Mark 1889 D. J.277, f.st