1862 $20 PR65 Deep Cameo PCGS. Only in 1859 did the Mint begin publicly offering proof gold coins (and other coins) to coll...
Bid InformationFor your convenience, the bid information on this page automatically refreshes with the most up to date data so you don't have to refresh/reload this page.
Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
Number of BiddersThis number represents the number of individual bidders prior to the close of Internet bidding on each lot. An individual who bids more than once is still counted only once. During the live session, only the winning bidder is included in this number, although detailed records are kept of all forms of bids.
Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.
This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
BP - Buyer's Premium per LotA Buyer's Premium will be added to each successful bid. For this sale: 15% of the successful bid (minimum $9) per lot. Please see #2 in our Terms & Conditions.
Not SoldThis indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.
Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
- There is no penalty for paying off early.
- Non-dealers only
- With pre-approved credit application
- Get pre-approved by filling out a credit application.
- Bid normally and win some lots.
- When you get your electronic invoice, select "other" from the payment options.
Note: This offer may not be available on some items.
Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- Minimum down payment is 20%.
- There is no penalty for paying off early.
- Non-dealers only
SMS Alerts- Receive a text message approximately 35 lots ahead of your item being up for bidding at auction, with a link to bid in Heritage Live in the text message. Haven't registered? Visit MyProfile to sign-up for free by entering your mobile number. The green icon indicates Live Bidding Text Alerts are on for that lot. Live Bidding Text Alerts are only available for lots in live sessions.
The Breen Proof Encyclopedia calls this issue "in the same rarity class with the eagle and half eagle," and the Breen Complete Encyclopedia says, " Possibly 12-15 proofs known, some impaired." David Akers commented in 1982, "This date is very scarce in all grades, and is especially difficult to locate in high grade. In fact, it is more likely to be found in Proof than it is in AU or Unc. ... Proofs of 1862 are very rare but are encountered with greater regularity than most other proofs prior to 1881. I estimate that 12-13 proofs still exist out of the original 35 mintage."
The authors of the indispensable Garrett-Guth Gold Encyclopedia wrote, "The 1862 issue is probably the earliest Type 1 double eagle likely to be encountered in Proof. Although the mintage is fewer than for the previous few years, more examples have survived. There are probably only about a dozen examples known, including two in the Smithsonian and another in the collection of the American Numismatic Society. Any Type 1 double eagle is a major rarity in Proof, and the demand for the issue far outstrips the supply. The auction record for the issue goes to a gem Proof coin sold in 1998 for $203,500. The average grade seen for the issue is usually PF-63 or PF-64." Confirming those comments, a search through our permanent auction archives reveals that this is only the second example, and the first Gem, that Heritage has had the privilege to offer. PCGS has graded exactly four examples of the 1862 in proof condition, with the present piece the finest graded, the only Gem, and the only one with the Deep Cameo designation. At NGC, that service has graded six pieces, including two PR65 Ultra Cameo examples as the finest (11/06).
Examples of this issue have the medium-width date shallowly set into the die, about midway between the bust and the denticles. The left base of the 1 in the date is over a space between two denticles. The numerals are about equidistant, and the 2 is delicate, with a curved base, and well formed, although a tiny hump shows on the top side of the curved base.
On the reverse of this piece a few of the horizontal shield lines are thinner on their right (facing) sides because of die lapping, and the last three sets of vertical shield lines are also thinner due to lapping. This spectacular example has that most elusive of coin criteria, eye appeal, in spades, and despite the Gem Deep Cameo assessment from PCGS, appears quite conservatively graded. The deeply contrasting, "gold-on-black" appearance so coveted in proof gold is quite evident here, with profoundly mirrored fields and thickly frosted devices. The mint frost is extremely deep on the obverse, but is even thicker on the reverse. Although the pristine quality of the piece does not provide much in the way of distinctive pedigree markers, we can point to a small unfrosted patch on Liberty's neck, near the juncture with the lowest curl. While we cannot say conclusively whether this is or is not the former Eliasberg specimen (sold as a PR67 coin), this example does look quite similar in quality and overall appearance to that famous specimen. We provide below a partial list of known specimens in order of condition, including some possible duplications, as mentioned above:
PR67. Eliasberg Collection; Bowers and Ruddy, 10/1982: 907.
PR65 DCAM PCGS. Robert C. Wynsen Collection (David Akers, 5/1998). The present specimen.
PR65. Davis-Graves Sale (Stack's, 4/1954), lot 872; Harold S. Bareford (Stack's, 12/1978), lot 229; Auction '79 (Paramount, 7/1979), lot 370.
PR65. Paramount (Auction '82, 8/1982), lot 1963.
PR64 NGC. Heritage (4/1999), lot 6260, $78,775.
PR64 Deep Cameo. Smithsonian Institution.
PR63 Deep Cameo. Smithsonian Institution.
PR63 NGC. Garrett Collection (Stack's, 3/1976), lot 398; Robison Collection; Ed Trompeter Collection (Superior, 3/1992).
This spectacular Gem coin, certainly among the finest certified examples, is destined for a top-notch gold or type set, and will undoubtedly form a centerpiece of any collection that it graces. Connoisseurs of proof gold, take note.
Pictured in Proof Gold Coins of the United States by Robert J. Loewinger, M.D., on page 69 to illustrate Longacre's Coronet Head (Liberty Head), No Motto design (as NGC PR65 Ultra Cameo).
From The Dr. Robert J. Loewinger Collection.(Registry values: P7) (NGC ID# 26DD, PCGS# 99074)
Service and Handling Description: Coin/Currency (view shipping information)