1887 $20 PR53 PCGS. The Proof-only 1887 is an important ...

Description

Mishandled Proof-Only 1887 Double Eagle

1887 $20 PR53 PCGS. The Proof-only 1887 is an important rarity in the series of Liberty Double Eagles, with a low survival ratio from a paltry original production of just 121 coins. Fewer than one third of the mintage survives today and some estimates place the number of specimens extant at an even lower figure. It was not unusual during major economic downturns such as the Panic of 1893 or the Great Depression for high denomination gold coins to end up in the channels of commerce. After all, $20 might have fed an entire family for weeks or made a couple of payments on the Model T. Only the truly wealthy might have avoided these situations entirely. This elusive 1887 Double Eagle probably stayed in circulation for six months or even a year. It maintains the rich golden coloration of Proof striking, but much of the watery brilliance is lost to wear. Still, its importance to those attempting to assemble a date set of Twenties or the ultra challenging complete set is quite obvious.

Coin Index Numbers: (NGC ID# 26E8, PCGS# 9103, Greysheet# 10068)

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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