1892 $20 PR65 Deep Cameo PCGS. JD-1, Low R.6....

Description

1892 Double Eagle, PR65 Deep Cameo
Ultimate Degree of Field-Device Contrast
Only 30 to 35 Proofs Extant

1892 $20 PR65 Deep Cameo PCGS. JD-1, Low R.6. Ex: Simpson. The 1892 double eagle is a famous low total-mintage issue. Circulation-strike production amounted to just 4,430 coins -- a significant percentage increase over the previous year's output but still a markedly small number in the greater context of the series. Proof double eagles were struck to the extent of 93 coins in 1892, up from 52 specimens the year before. John Dannreuther explains the near-doubling of proof output as follows in United States Proof Coins, Volume IV: Gold, Part II:

"There were more twenties struck than eagles [in 1892], so perhaps some collectors thought the low mintage of the 1891 circulation strike double eagles might continue in 1892, so more Proofs were ordered."

While expectations for low circulation-strike production may have contributed to demand then, date pressure and ultimate rarity contribute to demand for the 1892 proof double eagle today. It is believed that 30 to 35 examples survive in all grades. PCGS reports 13 submissions in non-Cameo, nine in Cameo, and five in Deep Cameo. Those totals almost certainly include some unknown duplication, but they speak to the relative rarity of the date through the various contrast levels.

This Gem proof exhibits the ultimate degree of field-device contrast. The Liberty Head design could hardly be more eye-catching. The devices are thickly frosted and the mirrors beautifully textured with the classic "orange-peel" appearance. Heavy as-made die polish lines are still visible in the fields. Population: 5 in 65 (1 in 65+) Deep Cameo, 2 finer (11/21).(Registry values: P2)

Coin Index Numbers: (NGC ID# 26ED, PCGS# 99108, Greysheet# 10085)

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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