Heritage World Coin Auctions
CSNS Signature US Coin Sale 1254 26-28 Apr 2017
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Proof Liberty Double Eagles
1886 $20 PR63 Deep Cameo PCGS. CAC. A generous mintage of 106 proof Liberty double eagles was accomplished at the Philadelphia Mint in 1886, the first time a proof mintage for the denomination reached three figures. Conversely, only 1,000 business-strike examples were coined at the Philadelphia facility, and no double eagles were struck at any of the branch mints. It may be that the Mint anticipated higher than usual collector demand for the proofs, since so few circulation-strike coins were available for date collectors. Unfortunately, the number of contemporary collectors trying to complete date runs of double eagles could probably be counted on one hand, so collector demand remained fairly constant during the late 19th century. Twenty five gold proof sets were issued in February, and it is likely that most of the coins we know about today were sold as part of these sets (almost all of the sets were broken up later, in the early 20th century). Undoubtedly, many of the proof double eagles struck in 1886 were never distributed and were melted after the end of the year. Probably no more than 20-25 examples survive today in all grades. Two of the survivors are included in the National Numismatic Collection at the Smithsonian Institution, and another is in the collection of the American Numismatic Society. A few specimens are known in impaired condition. P. Scott Rubin estimates an example of the 1886 proof double eagle appears at auction about once per year.
This impressive Select specimen exhibits razor-sharp definition on all design elements and the pleasing orange-gold surfaces show only scattered minor contact marks, most of them invisible without magnification. The devices show an exceptional amount of mint frost, creating profound cameo contrast against the deeply mirrored fields. Relatively few survivors have been certified with the Deep (or Ultra) Cameo designation. The fields show the slight orange-peel texture of the best 19th century proofs. Overall eye appeal is tremendous. We expect intense competition from series specialists when this key gold proof rarity crosses the auction block. Population: 1 in 63 Deep Cameo, 3 finer. CAC: 1 in 63, 4 finer (3/17).
HID02901242017
1886 $20 PR63 Deep Cameo PCGS. CAC. A generous mintage of 106 proof Liberty double eagles was accomplished at the Philadelphia Mint in 1886, the first time a proof mintage for the denomination reached three figures. Conversely, only 1,000 business-strike examples were coined at the Philadelphia facility, and no double eagles were struck at any of the branch mints. It may be that the Mint anticipated higher than usual collector demand for the proofs, since so few circulation-strike coins were available for date collectors. Unfortunately, the number of contemporary collectors trying to complete date runs of double eagles could probably be counted on one hand, so collector demand remained fairly constant during the late 19th century. Twenty five gold proof sets were issued in February, and it is likely that most of the coins we know about today were sold as part of these sets (almost all of the sets were broken up later, in the early 20th century). Undoubtedly, many of the proof double eagles struck in 1886 were never distributed and were melted after the end of the year. Probably no more than 20-25 examples survive today in all grades. Two of the survivors are included in the National Numismatic Collection at the Smithsonian Institution, and another is in the collection of the American Numismatic Society. A few specimens are known in impaired condition. P. Scott Rubin estimates an example of the 1886 proof double eagle appears at auction about once per year.
This impressive Select specimen exhibits razor-sharp definition on all design elements and the pleasing orange-gold surfaces show only scattered minor contact marks, most of them invisible without magnification. The devices show an exceptional amount of mint frost, creating profound cameo contrast against the deeply mirrored fields. Relatively few survivors have been certified with the Deep (or Ultra) Cameo designation. The fields show the slight orange-peel texture of the best 19th century proofs. Overall eye appeal is tremendous. We expect intense competition from series specialists when this key gold proof rarity crosses the auction block. Population: 1 in 63 Deep Cameo, 3 finer. CAC: 1 in 63, 4 finer (3/17).
HID02901242017