1888 $20 PR66 Ultra Cameo NGC. JD-1, R.6....

Description

1888 Liberty Double Eagle, PR66
Rare Ultra Cameo Example
20-25 Specimens Extant

1888 $20 PR66 Ultra Cameo NGC. JD-1, R.6. Between 1881 and 1887, even as San Francisco made millions of double eagles, production of the same denomination at Philadelphia languished. When the denomination was struck at all in circulation format, the output was minimal -- 2,199 pieces (in 1881) was the highest such output during that time, and dates such as the 1882, 1885, and 1886 business strikes are famous rarities (the 1883, 1884, and 1887 double eagles were proof-only).

These low or nonexistent mintages put great price pressures on most of the proof double eagle issues of the 1880s, and it is telling that the 1888 proof twenty, the first post-1880 date to be paired with a high-mintage Philadelphia business strike issue, is priced nearly at type in lesser proof grades. Yet the perception of the 1888 double eagle and subsequent issues, at least as reflected in their prices, does not mesh with objective reality. The Mint's quarterly delivery figures claim 102 proof 1888 twenties were struck (Guide Book says 105), but John Dannreuther estimates only 20 to 25 of the coins survive, making the proof 1888 double eagle a rare coin regardless of condition.

This is especially true for coins with the prized Ultra Cameo level of contrast. There are only three such certification events for the 1888 twenty in the PCGS Population Report, one in PR64 and the other two in PR65 Deep Cameo, while NGC has seen six Ultra Cameo coins, two in PR64, two in PR65, one in PR65★ , and one in PR66 (2/12). This magnificently contrasted Gem has an orange tint to the outer zones, fading to yellow on and around the thickly frosted devices. Gleaming mirrors show a hint of delicate texture and occasional areas of gauzy patina close to the rims. A pleasingly preserved and beautiful example of classic proof gold on its largest stage.
Ex: Central States Signature (Heritage, 4/2012), lot 5351, as PR65 Deep Cameo PCGS, CAC, realized $126,500.
From The HFW² Collection. (Registry values: P3)

Coin Index Numbers: (NGC ID# 26E9, PCGS# 99104, Greysheet# 10073)

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.

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