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Lot
5431

1904 $20 PR65 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: 5 Internet/mail/phone bidders
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Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:
1904 Gem Cameo Proof Twenty
Only 98 Proofs Produced
1904 $20 PR65 Cameo PCGS. CAC. The year 1904 sticks in many collectors' minds as the largest mintage of the Philadelphia and San Francisco business strike twenties, massive productions totaling more than 11 million pieces between both mints combined. Even today, the 1904 double eagle is the issue most often chosen for type purposes, and thousands survive in Mint State. Proof 1904 double eagles, however, do not share the commonness of their business strike counterparts. It was produced in the small extent of only 98 pieces, and it is doubtful that more than half of that number survive to the present day. The population reports are, of course, laden with duplications.
The Mint had moved away from the deeply contrasted method of proof production in 1902, and it is surprising that as many Cameo coins exist as indicated by the population reports. This is most likely a result of the limited use of new dies and the finish not wearing off, rather than a conscious effort by Mint workmen to produce a product comparable to pre-1900 proof gold. Nevertheless, Gem Cameo examples such as the present coin are seldom seen. The surfaces show strong field-device contrast that merits Cameo designation over bright yellow-gold surfaces that show no noticeable marks. The strike is pinpoint complete over each side, and the eye appeal is excellent, as one would expect from a Gem Cameo twenty. Population: 6 in 65 Cameo, 0 finer (6/12).(Registry values: P2) (NGC ID# 26ES, PCGS# 89120)

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