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Lot
7983

1860 $20 PR63 Cameo PCGS. The official mintage of 59 ...

2004 September Long Beach Signature Sale #355

 
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Auction Ended On: Sep 10, 2004
Item Activity: 14 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Extremely Rare 1860 Proof Double Eagle, PCGS Certified PR63 Cameo
1860 $20 PR63 Cameo PCGS. The official mintage of 59 proofs for this date, while extremely low, is misleading when trying to determine the actual number of surviving 1860 proof double eagles. Apparently a substantial number of pieces were melted, just as with the lower denomination coins, but unlike the lower denomination coins it is estimated that today only seven to nine proof double eagles are extant. Given the low number of actual survivors of this issue, the 1860 still stands as the only pre-Civil War proof that most collectors will ever realistically have a chance to purchase, which speaks volumes for the absolute rarity of the 1858 and 1859.
While graded PR63, this piece is uncommonly attractive for the grade. In part, this is because of the cameo effect, but it is also a well-produced coin that is minimally hairlined. The obverse fields were so heavily polished in the Mint that they have a concave appearance. The devices are noticeably frosted, which provides a strong cameo contrast against the depth of mirrored reflectivity in the fields. There are no obvious or distracting contact marks on either side of this lovely and very rare proof double eagle. Population: 1 in 63, 1 finer (8/04).
From The Greenwich Collection, Part Three.(#89072) (Registry values: P7) (NGC ID# 26DB, PCGS# 89072)

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