1898 $20 JD-1, R.5, PR65 Deep Cameo PCGS....

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1898 Liberty Double Eagle, PR65
High-Quality Deep Cameo Specimen
35-50 Pieces Extant

1898 $20 JD-1, R.5, PR65 Deep Cameo PCGS. A nominal mintage of 75 proof Liberty double eagles was achieved in 1898, with the coins delivered quarterly in batches of 20, 20, 10, and 25 pieces. The issue has a good survival rate and John Dannreuther estimates the surviving population at 35 to 50 examples in all grades. Unfortunately, the population data have been skewed by resubmissions and crossovers, as the two leading grading services currently list 82 certification events between them, seven more than the number of coins struck (9/26). Two coins are included in the National Numismatic Collection at the Smithsonian Institution, and a third specimen resides in the collection of the American Numismatic Society.
A single pair of dies was used to strike all the proofs in 1898. The obverse die is known in a single die state that shows few distinct markers, but the bridge of the nose is heavily polished on all examples seen. The reverse is known in two die states that both display a notch on the uppermost part of the last tail feather. The later die state (b) shows die polish in the scroll at E PLU(RIBUS). The coin offered here is Dannreuther Die State a/a, with no polish on the motto.
The present coin is a delightful Gem proof, with fully struck design elements that display a rich coat of mint frost. The well-preserved lemon-yellow surfaces exhibit the orange-peel texture of the finest 19th century proofs, with deeply mirrored fields that contrast profoundly with the frosty devices. A dramatic gold-on-black cameo flash occurs when this coin is tilted in the light. Only a few minor hairlines prevent an even higher grade. Overall eye appeal is terrific. We have previously handled a Deep or Ultra Cameo example of the 1898 proof twenty on only 15 occasions, including a prior offering of the current coin, in the Steinbrenner Collection in 2019. The most recent Deep Cameos we have handled were a PR64 Deep Cameo PCGS coin in 2024 and a PR67 Ultra Cameo NGC coin in 2020. Clearly, the opportunity to acquire a high-end example of this issue comes along much less frequently than one would expect with a survivorship of a few dozen examples. The current offering is an important opportunity for the advanced specialist.
Ex: The Joan Zieg Steinbrenner Collection / ANA Signature (Heritage, 8/2019), lot 3950.

Coin Index Numbers: (Variety PCGS# 107356, Base PCGS# 99114)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 0.9675oz

View Certification Details from PCGS