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Lot
3751

1868 $20 PR64 Cameo PCGS. It is remarkable, and perhaps unprecedented, that three 1868 proof twenties are offered in same a...

2007 January Orlando, FL (FUN) Signature Coin Auction #422

 
Sold for: Not Sold
Auction Ended On: Jan 4, 2007
Item Activity: 3 Internet/mail/phone bidders
214 page views
Location: Orlando, FL
Description:
Cameo PR64 1868 Twenty Dollar
1868 $20 PR64 Cameo PCGS. It is remarkable, and perhaps unprecedented, that three 1868 proof twenties are offered in same auction. The PR66 Cameo, offered elsewhere, is the finest proof known of this date. This coin may not be the finest in technical terms, but it surely represents the best value in this rarity. While one might not believe it from looking at the two coins in this sale, the 1868 proof twenty is actually a great rarity. Of the 25 coins struck, probably no more than a dozen pieces are extant today in all grades. On average, one proof of this date has been offered per year at public auction over the past 13 years--and almost all of them have been non-cameo coins. This piece has distinctive gold-on-black contrast, a finish that makes one think this must have been one of the first coins struck from a fresh pair of dies. With a disproportionate number of non-cameo coins certified, it makes the curious mind wonder just how many impressions were required before the intense cameo contrast wore off a new set of dies. The answer it seems is not very many.
This is a splendid proof striking, regardless of the date, and it is even more remarkable that it is this well preserved from 1868. Close examination with a magnifier shows only the tiniest imperfections. The only surface "flaws" worthy of mention are a cluster of three minute planchet flakes out of the lower obverse field directly below the point of the bust. The coin has even orange-gold color, and as stated above, the cameo contrast is stark on each side. As stated previously, if one wants the ultimate in technical preservation, regardless of price, then the PR66 offered in this sale would be the coin to pursue. However, many collectors will find the value this coin represents to be its main attraction, and we believe (expect ?) that this piece may bring a surprisingly high price when sold.(Registry values: P6) (NGC ID# 26DL, PCGS# 89083)

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