LOT #3190 |
Current Bid: $8,250
1887 $20 JD-1, High R.5, PR62 Cameo PCGS. CAC....
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Description
1887 Liberty Double Eagle, PR62 Cameo
Classic Proof-Only Rarity
CAC-Approved Quality
1887 $20 JD-1, High R.5, PR62 Cameo PCGS. CAC. The
Bland-Allison Act of 1878 required the U.S. Treasury to purchase
massive amounts of silver ($2 to $4 million) from the Western mines
every month and coin the bullion into silver dollars. Accordingly,
the Philadelphia Mint concentrated most of its resources on
producing large mintages of silver dollars for the following decade
and produced only limited numbers of double eagles for circulation.
In fact, no business-strike double eagles were struck at the
Eastern facility during three years of the decade - 1883, 1884, and
1887. Of course, the San Francisco Mint continued to strike large
numbers of double eagles for commercial use throughout much of this
period, and the Carson City Mint contributed a few smaller
productions to support the regional economy. Fortunately for
collectors, the Philadelphia Mint continued to produce a number of
proofs every year to satisfy collector demand.In fact, a generous mintage of 121 proof Liberty double eagles was struck in 1887. The proofs were delivered in quarterly batches of 26, 28, 10, and 57 pieces, indicating strong demand throughout the year. A single die pair was used to strike all the proofs. The 1887 proofs were well produced and many examples seen have sharp strikes, with strong field/device contrast. In United States Proof Coins, Volume IV: Gold, John Dannreuther estimates the surviving population at just 30 to 40 examples in all grades. PCGS CoinFacts estimates an even smaller total of 25 to 30 examples are extant, suggesting that some owners, or their heirs, may have spent their holdings during hard financial times in the 1890s.
The present coin is an impressive PR62 specimen that exhibits razor-sharp definition on all design elements. The richly frosted devices contrast dramatically with the deeply reflective fields to produce a startling cameo effect. The pleasing yellow and orange-gold surfaces show a few minor nicks and hairlines in the fields, but none that merit individual notice. The overall presentation is quite attractive and the high quality within the grade is confirmed by CAC. This coin is pictured on PCGS CoinFacts. Population: 1 in 62 Cameo, 2 finer. CAC: 1 in 62, 1 finer (8/25).
Coin Index Numbers: (Variety PCGS# 107307, Base PCGS# 89103)
Weight: 33.44 grams
Metal: 90% Gold, 10% Copper
Auction Info
2025 October 2 - 5 GACC US Coins Signature® Auction #1386 (go to Auction Home page)
Proxy Bidding Ends
October
2nd
Thursday
12:50 pm CT
Auction Dates
October
2nd-5th
Thursday-Sunday
Proxy Bidding Time Remaining
17 Days
23h 4m 18s
Bids + Registered Phone Bidders: 12
Lot Tracking Activity: 24
Page Views: 128
Buyer's Premium per Lot:
20% of the successful bid (minimum $29) per lot.
This lot is in: 1 -
Signature® Premier Floor Session - PREMIER (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live):
(Lots 3001-3238) - 1:00 PM Central Time, Thursday, October 2, 2025.
[Proxy bidding ends ten minutes prior to the session start time. Live Proxy bidding on Heritage Live now starts within 2 hours of when the auction opens for proxy bidding and continues through the live session.]
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Additional Location Info:
Heritage Auctions
2801 W. Airport Freeway
Dallas, TX 75261
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