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1886 $20 PR63 Deep Cameo PCGS. CAC....
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Description
1886 Liberty Double Eagle, PR63 Deep Cameo
Classic Gold Proof Rarity
Few Business Strikes Were Struck
1886 $20 PR63 Deep Cameo PCGS. CAC. A generous mintage of
106 proof Liberty double eagles was accomplished at the
Philadelphia Mint in 1886, the first time a proof mintage for the
denomination reached three figures. Conversely, only 1,000
business-strike examples were coined at the Philadelphia facility,
and no double eagles were struck at any of the branch mints. It may
be that the Mint anticipated higher than usual collector demand for
the proofs, since so few circulation-strike coins were available
for date collectors. Unfortunately, the number of contemporary
collectors trying to complete date runs of double eagles could
probably be counted on one hand, so collector demand remained
fairly constant during the late 19th century. Twenty five gold
proof sets were issued in February, and it is likely that most of
the coins we know about today were sold as part of these sets
(almost all of the sets were broken up later, in the early 20th
century). Undoubtedly, many of the proof double eagles struck in
1886 were never distributed and were melted after the end of the
year. Probably no more than 20-25 examples survive today in all
grades. Two of the survivors are included in the National
Numismatic Collection at the Smithsonian Institution, and another
is in the collection of the American Numismatic Society. A few
specimens are known in impaired condition. P. Scott Rubin estimates
an example of the 1886 proof double eagle appears at auction about
once per year.This impressive Select specimen exhibits razor-sharp definition on all design elements and the pleasing orange-gold surfaces show only scattered minor contact marks, most of them invisible without magnification. The devices show an exceptional amount of mint frost, creating profound cameo contrast against the deeply mirrored fields. Relatively few survivors have been certified with the Deep (or Ultra) Cameo designation. The fields show the slight orange-peel texture of the best 19th century proofs. Overall eye appeal is tremendous. We expect intense competition from series specialists when this key gold proof rarity crosses the auction block. Population: 1 in 63 Deep Cameo, 3 finer. CAC: 1 in 63, 4 finer (3/17).(Registry values: P4)
Coin Index Numbers: (NGC ID# 26E7, PCGS# 99102)
Weight: 33.44 grams
Metal: 90% Gold, 10% Copper
Learn more at the Newman Numismatic Portal at Washington University in St. Louis.
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