German States
Saxony. Georg gold Proof 20 Mark 1903-E PR64 Cameo NGC, Muldenhutten mint, KM1260, Jaeger-266. One-year type. Tone-free and incredibly bold in presentation, with cameo contrast that appears to fully merit "Ultra Cameo" distinction as a result of thick design frost and enduring mirror depth in the fields. Very nearly a technical Gem, only minor imperfections are present, with an overall appearance that is certainly Gem caliber. The only 20 mark date of Georg's reign, and as such, a heavily sought type, especially in proof format.From The Kaiser Collection of German Gold Coins
Estimate: 3500-4500 USD