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Lot
9428

1892 $20 PR65 Ultra Cameo NGC....

2005 February Long Beach Signature Sale #366

 
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Auction Ended On: Feb 25, 2005
Item Activity: 12 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Starkly Contrasted Gem Ultra Cameo 1892 Double Eagle
1892 $20 PR65 Ultra Cameo NGC. Only 93 proofs were struck of the double eagle in 1892, in addition to 4,410 business strikes for a total of 4,503 coins. As David Akers pointed out in his commentary in the Pittman catalog, it is important to distinguish between the number struck and the number actually distributed, as unsold pieces were usually melted at year's end. It is very probable that only half of the actual mintage was actually sold to well-heeled collectors of the day. Given that scenario, that would mean that somewhere in the neighborhood of 40-45 pieces were actually sold. This would put the estimated number of actual survivors today in line with the estimates given by Breen and Akers. Walter Breen suggested between 18 and 22 proofs were accounted for today, based on his notes and experience. David Akers, writing in the Pittman catalog, suggested that only 20 to 25 proofs were accounted for.
This is a magnificent proof striking. The fields show illimitable depth of reflectivity and go absolutely "black" when angled away from the viewer. The devices are very heavily frosted and provide a stark cameo contrast on each side. The surfaces are virtually without flaw with the orange-peel texture usually seen on proof gold from this period. As for an identifying pedigree marker, there is a tiny planchet flaw below the eagle's right (facing) wing just beneath the stand of the R in AMERICA. An outstanding piece of proof gold and undoubtedly worth a king's ransom to secure for a type set of proof gold. Population: 2 in 65, 1 finer (1/05).(#99108) (Registry values: P2) (NGC ID# 26ED, PCGS# 99108)

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