LOT #4912 |
Current Bid: $300,000
1863 $20 PR65 NGC. JD-1, Low R.7....
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Description
1863 Liberty Double Eagle, PR65
Civil War-Era Gold Rarity
Only 30 Examples Struck
Ex: Garrett
1863 $20 PR65 NGC. JD-1, Low R.7. From a reported mintage of
just 30 examples, the 1863 Liberty double eagle is an extremely
rare issue in proof format. All the proofs were delivered in a
single batch on March 23 and a single pair of dies was used to
strike all the coins. The obverse die has an unusual die line
shaped like a horizontal Y on the bust truncation, and the reverse
has a die line at the first S in STATES, making it possible to
distinguish between proofs and prooflike business strikes. The
reverse die had been used previously to strike proofs in 1861 and
1862. Both John Dannreuther and PCGS CoinFacts estimate no more
than 10 to 12 specimens survive today in all grades, including some
coins in impaired condition. Two of those coins are in the National
Numismatic Collection at the Smithsonian Institution and another is
included in the collection of the American Numismatic Society.
Heritage Auctions is privileged to present this PR65 example from
the famous Garrett Collection in just its third public offering
since it was struck 161 years ago.The Present Coin
The coin offered here claims an unbroken pedigree all the way back to the Mint in 1863. During this era, the Philadelphia Mint only sold gold proofs in six-piece denominational sets, from gold dollar to double eagle. This coin was part of such a set, which was purchased by Ohio collector Heman Ely in 1863. Ely was a wealthy collector who purchased complete proof sets from the Mint virtually every year to update his collection. He sold his fabulous collection through Massachusetts coin dealer W. Elliot Woodward in January 1884. Before the sale took place, Woodward offered the run of proof sets to T. Harrison Garrett, a wealthy Baltimore collector who formed one of the best collections of the 19th century. Garrett purchased nine of the proof sets, including the one with this coin, in a private transaction on 10/25/1883. Garrett's collection passed to his sons, Robert and John Work Garrett after his death and the gold proof sets remained in the family collection until 1942. The entire collection was bequeathed to Johns Hopkins University after John Work Garrett died, and the coins remained there until 1976. The U.S. portion of the Garrett Collection was finally dispersed through a series of blockbuster auctions by Stack's and Bowers and Ruddy Galleries in the 1976 through 1981 time frame. This coin was offered individually in lot 404 of Stack's sale of A Special Selection of United States Coins From the John Work Garrett Collection in March of 1976:
"Double Eagle ($20.00 Gold). 1863. 30 specimens struck. Brilliant Proof. A perfectly struck, needle sharp coin. The James Dines coin in 1969 was the only one we have handled in the past decade."
The lot realized $18,000, a strong price for the time. The coin was purchased by coin dealers Art and Don Kagin and soon passed to collector Henry Miller. Miller's important collection was sold by Heritage in January 2011, with this coin featured in lot 5277 of the FUN Signature catalog. The coin was then certified as NGC PR64 Cameo and It sold for another strong price of $212,750. It has been off the market ever since.
Physical Description
This incredible PR65 1863 Liberty double eagle displays virtually immaculate surfaces that would not look out of place in a PR65 Cameo holder. The field-device contrast is splendid, though unacknowledged. The fields are intensely reflective, the devices moderately frosted (a bit more heavily on the reverse), producing a noticeable gold-on-black appearance when tilted slightly. This is an absolutely breathtaking and spectacular specimen, undoubtedly among the finest survivors from this year midway through the Civil War. The obverse displays a consistent orange-gold coloration, but the reverse has deeper orange-red hues around the periphery, with a compelling two-toned appearance created by ample accents of pale jade within the confines of the glory of rays and central devices. On the obverse, there is a tiny dark fleck just in the center of the cheek, completely undistracting. What is much more noticeable is how sharply detailed the strike is, with high squared rims, all stars bold and full, the incused initials J.B.L. more prominent than usual on the bust truncation, and full sculptural detail in Liberty's hair. This coin possesses an unbeatable combination of absolute rarity, high technical quality, outstanding eye appeal, and extraordinary pedigree. It should find a home in the finest collection or Registry Set.
Roster of Proof 1863 Liberty Double Eagles
Grades are per the latest auction appearance, unless a subsequent certification event is known.
1. PR65+ Cameo PCGS. Louis Eliasberg, Sr.; United States Gold Coin Collection (Bowers and Ruddy, 10/1982), lot 909; Ed Trompeter; Heritage Auctions, privately, circa 1999; Medio-Gomez Collections (American Numismatic Rarities, 6/2004), lot 1515, realized $138,000; Pre-Long Beach Auction (Ira and Larry Goldberg, 9/2008), lot 1287, realized $241,500, Chicago Signature (Heritage, 8/2014), lot 5742 (as PR66 Cameo NGC), realized $381,875; Bob R. Simpson Collection; Central States Signature (Heritage, 5/2022), lot 3620, realized $1,020,000.
2. PR65 Cameo NGC. Gaston DiBello; DiBello Collection, Part II (Stack's, 5/1970, lot 1224; Harry W. Bass, Jr., Bass Collection, Part II (Bowers and Merena, 10/1999), lot 1759, realized $66,700; Tacasyl Collection (Bonham's, 9/2013), lot 1021; realized $345,150.
3. PR65 NGC. Heman Ely; W. Elliot Woodward; purchased by T. Harrison Garrett as part of a private transaction involving nine complete gold proof sets from Ely's collection on 10/25/1883; Robert and John Work Garrett; John Work Garrett, circa 1919; Johns Hopkins University, by bequest in 1942; Garrett Collection (Stack's, 3/1976), lot 404; Art and Don Kagin; Henry Miller; FUN Signature (Heritage, 1/2011), lot 5277 (as NGC PR64 Cameo), realized $212,750. The present coin.
4. PR64 Deep Cameo PCGS. A specimen graded on 8/4/2014 and pictured on the PCGS CoinFacts website (cert # 25265745). Planchet flaw in the field, near the bust point.
5. PR64 Deep Cameo. Part of a complete 1863 proof set sent from the Philadelphia Mint to the curator of the Mint Cabinet on 3/11/1863; National Numismatic Collection at the Smithsonian Institution, grade by Garrett and Guth.
6. PR62 Deep Cameo. Robert Schermerhorn; Stack's; Josiah K. Lilly; donated to the National Numismatic Collection at the Smithsonian Institution in 1968, grade by Garrett and Guth.
7. Proof. Robert C.H. Brock, part of a complete proof set from the Philadelphia Mint; J.P. Morgan; American Numismatic Society in 1908, accession number 1863.1908.93.374, exhibited at the 1914 ANS Exhibition.
8. Brilliant Proof. ANA Convention Auction (Stack's, 8/1976), lot 3208; possibly Dennis Mendelson Collection (Superior, 2/1991), lot 2907a.
9. Brilliant Proof. Picker-Sonderman-Ruder Collections (Stack's, 1/1992), lot 1368. The catalog indicates this coin was from an overseas source.
10. Proof 60, Polished. Possibly Adolph Menjou Collection (Numismatic Gallery, 6/1950), lot 1801, per Walter Breen; Samuel Wolfson Collection, Part I (Stack's, 10/1962), lot 881; Public Auction Sale (New England Rare Coin Auctions, 12/1976), lot 1388; March Sale (Stack's, 3/1983), lot 1315; Grand Central Auction (Herbert Melnick, 11/1983), lot 3187; Saccone Collection (Bowers and Merena, 11/1989), lot 617; ANA Signature (Heritage, 7/1997), lot 5666.
Other Appearances:
A. Brilliant Proof. George Seavey, part of a complete gold proof set, probably purchased directly from the Mint in 1863; Seavey Illustrated Catalog (William Strobridge, 6/1873), lot 825, not sold as the collection was purchased intact by Lorin G. Parmelee before the auction took place; Lorin G. Parmelee Collection (New York Coin & Stamp, 6/1890), lot 1327; William Woodin; Woodin Collection (Thomas Elder, 3/1911), lot 1361.
B. Brilliant Proof. Thomas Cleneay Collection (S.H. & H. Chapman, 12/1890), lot 412, part of a six-piece gold proof set.
C. Proof. M.A. Brown Collection (S.H. & H. Chapman, 4/1897), lot 99, part of a complete six-piece gold proof set.
D. Fine sharp Proof. Smack-Nightingale Collections (New York Coin & Stamp, 6/1903), lot 49.
E. Brilliant Proof. Major William B. Wetmore Collection (S.H. & H. Chapman, 6/1906), lot 148, part of a six-piece gold proof set; J.C. Mitchelson.
F. Brilliant Proof. David S. Wilson Collection (S.H. Chapman, 3/1907), lot 323, part of a six-piece gold proof set, realized $200; William Cutler Atwater Collection (B. Max Mehl, 6/1946), lot 1255.
G. Proof. James B. Wilson Collection (Thomas Elder, 10/1908), lot 60, part of a complete six-piece gold proof set; Virgil Brand (Brand Journal #45143).
H. Brilliant Proof. George Earle Collection (Henry Chapman, 6/1912), lot 2264, part of a six-piece gold proof set; S.H. Chapman.
I. Brilliant Proof. H.O. Granberg in 1920; part of a six-piece gold proof set; Virgil Brand (Brand Journal #98649).
J. Brilliant Proof. A specimen in the collection of Waldo Newcomer, purchased for $75.
K. Brilliant Proof. William Forrester Dunham Collection (B. Max Mehl, 6/1941), lot 2305.
L. Brilliant Proof. Jacob Shapiro (a.k.a. J.F. Bell); J.F. Bell Collection (Stack's, 12/1944), lot 823.
M. Brilliant Proof. F.C.C. Boyd; World's Greatest Collection (Numismatic Gallery, 1/1946), lot 866; Memorable Collection (Numismatic Gallery, 3/1948), lot 688.
N. Brilliant Proof. Louis E. Eliasberg (duplicate); H.R. Lee Collection (Stack's, 10/1947), lot 1707.
O. Brilliant Proof. King Farouk; Palace Collections of Egypt (Sotheby's, 2/1954), part of lot 180; Abe Kosoff.
P. Brilliant Proof. Thomas Melish Collection (Abe Kosoff, 4/1956), lot 914, possibly the coin in number 3 above (not plated, but description mentions a planchet flaw).
Q. Brilliant Proof. Dr. J.H. Judd; Illustrated History of United States Coinage (Kosoff, 1962) Lot 152.
R. Proof. ANA Convention Auction (Paramount, 8/1974), lot 995.
S. Proof. Arrowhead Collection (Sotheby's, 5/1987), catalog not available for comparison.
T. PR64 PCGS. Kingswood II (Kingswood Coin Auctions, 6/1997), lot 185. Catalog not available for comparison.(Registry values: P7)
Selections from The Casady Collection.
Coin Index Numbers: (NGC ID# 26DE, PCGS# 9075, Greysheet# 9996)
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.
View all of [Selections From The Casady Collection ]
Auction Info
2025 January 14 - 19 FUN US Coins Signature® Auction #1380 (go to Auction Home page)
Proxy Bidding Ends
January
16th
Thursday
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January
14th-19th
Tuesday-Sunday
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