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Lot
4159

1892 $20 PR64 Cameo NGC....

2009 January Orlando, FL FUN Auction #1121

 
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Auction Ended On: Jan 8, 2009
Item Activity: 6 Internet/mail/phone bidders
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Location:

Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819

Description:
Contrasting 1892 Double Eagle, PR64 Cameo
1892 $20 PR64 Cameo NGC. The date is about centered with the J of J.B.L. over the inside left curve of the 8. The left base of the 1 is over the left edge of a dentil. The reverse has a broken right tail feather, a characteristic of several different dates in the proof double eagle series.
In 1892 the Mint produced a mere 93 proof double eagles, as just 4,430 others for circulation. There is no doubt that some of the proofs remained unsold at the time, later to be melted. Some others that were sold eventually found there way into circulation by heirs to collectors who didn't realize that the coins were worth a premium. Probably about 25 to 35 examples of the original production still survive in various grades, along with less than 200 business strikes in various grades. The Smithsonian Institution has two pieces, and the American Numismatic Society has one piece. In addition we have a database of 42 different auction appearances that date back to Abe Kosoff's sale of November 1971. The average time between offerings is about 11 months.
The mirrored fields and lustrous devices on this yellow-gold proof are subdued by hazy surfaces with hairlines on both sides. There are no singular spots or blemishes to aid the search for a prior provenance. The number of survivors is far smaller than the demand for examples of this date, so the present opportunity should be given careful consideration.(Registry values: P2) (NGC ID# 26ED, PCGS# 89108)

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