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1869 $20 PR64 Cameo NGC. This is an exquisite proof ...

2004 June Long Beach Signature Sale #349

 
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Auction Ended On: Jun 3, 2004
Item Activity: 10 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Spectacular 1869 Proof Double Eagle, One of No More Than 12 Coins Believed Extant
1869 $20 PR64 Cameo NGC. This is an exquisite proof Twenty whose eye appeal alone would do justice to an even higher grade. The cameo contrast is profound, so much so that one is left wondering why NGC did not provide a Deep Cameo designation. The devices are richly frosted in finish and set atop glistening, mirrored fields that appear to "go black" when the coin rotates away from the light. The overall color is an orange-gold shade, this feature, as well as all others, being fully appreciable in the absence of sizeable contact marks. In fact, we are unable to locate any singularly useful pedigree markers, although accuracy compels us to mention a couple of wispy slidemarks on the obverse over and before Liberty's cheek. Were it not for these light handling marks, this coin would easily warrant a full Gem grade.
Proof Double Eagle production at the Philadelphia Mint amounted to just 25 coins in 1869. Breen (1988) estimates that a mere 10-12 pieces are extant, a range that Doug Winter and Mike Fuljenz also credit in the 1999 book Type Two Double Eagles 1866-1876: A Numismatic History and Analysis. This is the first proof 1869 Double Eagle that we have offered at auction in recent memory, and its appearance marks an event that is surely not soon to be repeated.
From The Greenwich Collection, Part One. (#89084) (NGC ID# 26DM, PCGS# 89084)

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