LOT #4050 |
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1885 $20 MS60 Prooflike NGC....
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Sold on Aug 4, 2020 for:
$63,000.00
Bid Source: Internet bidder
Description
1885 Twenty Dollar, MS60 Prooflike
Only 751 Coins Struck
1885 $20 MS60 Prooflike NGC. Double eagle coinage at the
Philadelphia Mint was remarkably scant from 1881 to 1887, with no
circulation strikes made for this denomination at all in 1883,
1884, or 1887. In 1885, only 751 Liberty Head twenties were struck.
The Mint Director's Annual Report of 1885,
stated:"Notwithstanding the increase in the amount of gold deposited at the mints and assay offices during the year, the coinage was $3,000,000 less than in the previous year. This was occasioned by a continued falling off in the deposits at the Mint at San Francisco, amounting for the year to over $2,500,000, and by the fact that the Mint at Philadelphia, at which the coinage of gold received at the eastern institutions is executed, was engaged principally on silver and minor coins."
Gold coinage amounted to nearly $25 million dollars, mostly in the form of double eagles at the San Francisco Mint. The 1885 Philadelphia coin is a rarity today and highly sought-after. Likely fewer than 100 pieces are known in all grades. This MS60 coin is designated Prooflike. As more and more gold and silver coins are certified Prooflike (now by both grading services) this expands the collecting possibilities beyond the traditional proof or business strike choice. Granted, this is an unquestioned business strike; however, the reflectivity in the fields gives it a distinctive appearance not seen on other coins produced for circulation. This expansion of the Prooflike designation by both services now opens up the possibility that Morgan dollar collectors have enjoyed for decades: regular lustrous circulation strikes, Cameo, and Deep Cameo finishes. The strike details on this piece are sharp throughout and the surfaces display bright straw-gold color with the scattered abrasions one would expect for an MS60.
Coin Index Numbers: (NGC ID# 26BM, PCGS# 79003)
Weight: 33.44 grams
Metal: 90% Gold, 10% Copper
Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.
Auction Info
2020 August 3 - 9 US Coins Signature Auction #1318 (go to Auction Home page)
Auction Dates
August, 2020
3rd-9th
Monday-Sunday
Bids + Registered Phone Bidders: 29
Lot Tracking Activity: N/A
Page Views: 604
Buyer's Premium per Lot:
20% of the successful bid per lot.
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