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Lot
5430

1901 $20 PR64 Deep Cameo PCGS. CAC....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 7 Internet/mail/phone bidders
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Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:
1901 Deep Cameo PR64 Twenty Dollar
Especially Challenging as a Deep/Ultra Cameo
1901 $20 PR64 Deep Cameo PCGS. CAC. The 1901 proof twenty is anything but common, unlike its business strike counterpart. The mintage was 96 proofs and probably 40 to 50 individual pieces exist in all grades and designations. Examination of the population data is certainly interesting for this issue. Only the Deep/Ultra Cameo data is reflective of the actual number extant. Combining PCGS and NGC Deep/Ultra coins, a grand total of five pieces have been certified (6/12). Non-Cameo and Cameo coins have had so many resubmissions that the populations are no longer helpful. There have been 34 non-Cameo examples certified and 39 Cameo coins. If the rate of resubmission continues, in a couple of years the number certified will exceed the original mintage!
The fields on this piece display remarkable depth of mirrored reflectivity and give the "black" appearance that is so desirable on proof gold. Contrasted against the mirrored finish, the devices are heavily frosted and seem to float above the watery fields. Close examination with a loupe reveals just the slightest evidence of the orange-peel effect that is often encountered on latter-19th century proof gold. This effect was apparently created by inserting planchets in an annealing furnace that had previously been used for silver, nickel, or bronze; thus the furnace was too hot for the softer gold alloy and the surface of the planchets took on the familiar orange-peel appearance. The only mark on this magnificent coin is a very shallow scratch just behind the nose of Liberty. Deep, even orange-gold color is seen over each side. Population: 2 in 64 Deep Cameo, 0 finer (6/12).(Registry values: P1) (PCGS# 99117)

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