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7985

1887 $20 PR64 Cameo NGC. The 1887 is one of the rarest ...

2004 September Long Beach Signature Sale #355

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Auction Ended On: Sep 10, 2004
Item Activity: 12 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Extremely Rare PR64 Cameo 1887 Double Eagle--A Proof-Only Issue And One Of The Premier Issues From The Type Three Series
1887 $20 PR64 Cameo NGC. The 1887 is one of the rarest dates in the series of twenty dollar Libs. Only 121 proofs were struck, and no business strikes were produced. However, judging from the small number of proofs remaining it seems likely that 50 or so coins must have been melted as unsold at year's end. It is generally believed that today a mere 23-25 coins are extant in all grades, a figure that places it in the top eight dates in the series.
The 1887 double eagles that are known are well produced coins. This piece has deeply reflective mirrors with a significant amount of mint frost over the devices. The fields display the pronounced orange-peel texture that is invariably found on 1887 twenties and generally seen on most proof gold coins from the 1880s and 1890s. The surfaces are slightly hazy with a few light hairlines and each side has bright orange-gold coloration. One of the finest examples known of this major rarity, and one of only 10-11 coins believed known in PR63-PR64 condition today.
From The Greenwich Collection, Part Three.(#89103) (Registry values: P5) (PCGS# 89103)

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