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Lot
7670

1890 $20 PR65 Ultra Cameo NGC. CAC....

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
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Auction Ended On: Aug 12, 2011
Item Activity: 6 Internet/mail/phone bidders Number of Bidders
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Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:
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Gem Ultra Cameo Proof 1890 Twenty
Exceptional Eye Appeal
1890 $20 PR65 Ultra Cameo NGC. CAC. Few numismatic items are as impressive as an Ultra Cameo proof double eagle. Such coins were rare to begin with, since mintages were only a fraction of their Seated counterparts, and only the earliest strikes from well prepared dies exhibit exceptional contrast. The high face value encouraged spending by heirs, since a single double eagle could stave off financial disaster during the Great Depression or prior economic panic. Of those pieces that remained in collector hands, some were improperly stored or cleaned, which caused grade-limiting hairlines.
The combination of tiny mintages, inconsistent Mint preparation, valuable gold alloy, and the passage of time have reduced the number of potential Gems. Such pieces are under strong demand from wealthy collectors, who are justifiably proud of their acquisitions. In recent years, a number of business executives have diversified their investments to reduce the impact of a tumultuous stock market. Proof double eagles are an ideal purchase for the numismatic investor, since it is certain that future generations will prize them as much as we do now.
The present specimen is likely to join an advanced holding of the proof series. There is profound depth to the mirrored fields, and contrast is blatant with the luminous devices. Only very faint hairlines are present, and these are trivial for the grade. Slight granularity at the center of the cheek is as made. The overall eye appeal is remarkable. From an initial production of just 55 proofs, this example ranks among the finest survivors and would be the highlight of an advanced proof type set. Census: 3 in 65 Ultra Cameo, 3 finer (5/11).
From The Oliver Collection.(Registry values: P3) (NGC ID# 26EB, PCGS# 99106)

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