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Lot
7975

1885 $20 PR65 Cameo NGC. The 1885 Liberty Double Eagle is ...

2003 November Signature Sale #334

 
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Auction Ended On: Nov 9, 2003
Item Activity: 7 Internet/mail/phone bidders Number of Bidders
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Description:
Extremely Rare 1885 Liberty Double Eagle PR65 Cameo
1885 $20 PR65 Cameo NGC. The 1885 Liberty Double Eagle is an instantly recognizable rarity in both business strike and proof formats. Gold production that year at the Philadelphia Mint relied almost exclusively on the $5 and, to a lesser degree, $10 denominations to fulfill its obligations for gold coinage. In 1885, a token 751 business strikes rolled off the dies in addition to what was then a fairly typical production for Twenty Dollar gold pieces of 78 proofs. There is general agreement by specialists that the number of pieces extant numbers fewer than 20 coins, with a handful of those being slightly impaired. A list of auction appearances of a proof 1885 Double Eagle over the past dozen years includes:

1. Ex: Atlanta ANA Signature Sale (Heritage, 8/2001), lot 8201, where it realized $13,800. A slightly impaired example, this coin was graded PR58 by NGC.

2. Ex: Chicago Sale (Superior, 8/1991), lot 823, where it realized $39,600. Certified PR64 by PCGS.

3. Ex: Harry W. Bass, Jr. Collection (Bowers and Merena, 10/1999), lot 1895, where it realized $75,900. A PR65 PCGS specimen.

4. Ex: Portland ANA Signature Sale (Heritage, 8/1998), lot 7919, where it realized $103,500. This coin was graded PR66 by NGC.

5. Ex: 2003 February Long Beach Signature Sale (Heritage, 2/2003), lot 8562, where the price realized was $42,550. Certified PR64 Deep Cameo by PCGS.

The quality of this remarkable specimen rivals any 1885 we have ever seen, displaying peerless, glassy fields that are deeply reflective and provide a glittering background for the heavy mint frost seen over the devices. A tiny planchet flake below star 8 could hardly be considered a detriment to the coin, but may be useful for future pedigree. The rarity and importance of a proof 1885 Double Eagle is such that it would be considered a highlight of any gold collection. Population: 2 in 65 Cameo, 3 finer (10/03). (#99101) (PCGS# 99101)

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