1886 $20 JD-1, Low R.6, PR66 Ultra Cameo NGC....

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1886 Liberty Double Eagle, PR66 Ultra Cameo
Classic Gold Proof Rarity
Few Business Strikes Were Struck

1886 $20 JD-1, Low R.6, PR66 Ultra Cameo NGC. The Philadelphia Mint struck a fairly generous mintage of 106 proof Liberty double eagles for collectors in 1886, to accompany a minuscule business-strike mintage of just 1,000 pieces. As might be expected, high-grade business strikes are extremely elusive, putting strong date pressure on the small supply of proofs. The proofs were delivered both in complete gold proof sets and as individual coins throughout the year. Twenty five complete sets were delivered on February 1, and another six sets were delivered on March 30. Fifteen individual coins were delivered on June 12, another 15 were delivered in September, and a final delivery of 45 pieces was made on December 31. A single pair of dies was used to strike all the proofs. The date on the obverse proof die was located much lower and further right than the date on the circulation-strike die, making it possible to differentiate between true proofs and prooflike business strikes.

For some reason, the 1886 proof double eagle claims a low survival rate and John Dannreuther estimates the surviving population at just 25 to 30 examples in all grades. Writing in United States Proof Coins, Volume IV: Gold, Part II, Dannreuther speculates:

"There are numerous theories for the low survival rate, the most prevalent one is that only those sold with the sets survived and many of the single Proofs were not sold and melted at the end of the year. We may never know what happened, as there were no records for these years of the melted coins or Proofs placed into circulation."

The present coin is a spectacular Premium Gem proof that exhibits razor-sharp definition on all design elements. The impeccably preserved yellow-gold surfaces include deeply reflective fields that contrast profoundly with the richly frosted design elements to create an intense cameo effect. Overall eye appeal is terrific. This coin will be a welcome addition to the finest collection or Registry Set. Census: 2 in 66 Ultra Cameo (1 in 66+★ ), 2 finer (7/25).

Coin Index Numbers: (Variety PCGS# 107305, Base PCGS# 99102)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

View Certification Details from NGC