1873 $20 Closed 3 PR64 Ultra Cameo NGC. CAC....

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Intensely Contrasted 1873 Closed 3
Double Eagle, PR64 Ultra Cameo

1873 $20 Closed 3 PR64 Ultra Cameo NGC. CAC. Although these are still often called Closed 3, the loops of the numeral are not entirely closed, bur rather closer together than on the Open 3 style that preceded it. Many numismatists have turned to the "Close 3" terminology, which more accurately describes the variety. The year also marked another transition, although not among the gold issues--that of the No Arrows/With Arrows varieties in the minor silver coinage, signaling a slight alteration to even metric weights. As a result, the complete proof set of the year contains more coins (20) than any other, a fact that exerted a peculiar fascination for noted collector Harry X Boosel, long known as "Mr. 1873."
All of the 25 recorded double eagle proofs are of the Closed 3 (or Close 3) type, although business strikes of the Open 3 variety were produced later in the year in Philadelphia and San Francisco, but none in Carson City. Garrett and Guth comment concerning the issue:

"The 1873 issue is among the most difficult of the Proof Type 2 double eagles to locate. Very few have been offered for sale in recent decades. There are only 10 to 12 coins known in all grades, including at least two in museum collections. Of the few that have survived, several are slightly impaired. The Proof gold coinage of 1873 has one of the lowest mintage figures for the era and is very popular as such."

A perusal of our Permanent Auction Archives indicates that this is the first time we have ever offered a proof example of this elusive date, since we began recordkeeping in 1993. In fact, we can locate only five trades of this coin in the past 30 years. The most recent that we know of was the ex: Trompeter Collection specimen, a Gem Cameo NGC coin that American Numismatic Rarities offered (1/2005, lot 1023) which garnered $155,250.
This piece displays marvelous, intense contrast on both sides between the deeply reflective, mirrored fields and thickly frosted devices. A slight pinkish-gold cast appears on each side. For pedigree purposes we mention a few tiny lint marks visible under magnification, most notably by stars 11 and 13. The combined population data appear to contain numerous duplicates. Census: 1 in 65 Ultra Cameo, 1 finer (11/09).(Registry values: P6)

Coin Index Numbers: (NGC ID# 26DS, PCGS# 99088, GSID# 10028)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 1.06oz
Melt Value: $1,199.92
Gold Spot: $1,132/oz (01-07-2010)

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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