1887 $20 PR64 Cameo PCGS....

Description

1887 Liberty Double Eagle, PR64 Cameo
Rare Proof-Only Issue
Finest Cameo at PCGS

1887 $20 PR64 Cameo PCGS. Double eagles were produced exclusively in proof format in 1887. Since no business-strike coins were struck, the Philadelphia Mint produced a generous proof mintage of 121 pieces to satisfy collector demand. The 1887 has a low survival rate, suggesting that some of these coins were never released and were later melted. Given the fact that there are around 25-30 survivors, it would seem logical that 50 or so pieces were lost to collectors in this manner. Undoubtedly, some coins were later spent by their owners, as proof double eagles carried extremely low premiums in the late 19th and early 20th centuries. The temptation to spend the coins must have been great during hard economic times when 20 dollars went a long way toward paying for basic necessities. A number of coins are known today in impaired condition, and some were undoubtedly melted after the Gold Recall of 1933.

The present coin is a delightful Choice example with outstanding eye appeal and high technical quality. The bright, watery mirrors of this impressive specimen have the desirable "orange-peel" texture of proof gold coinage from this era and display a noticeable degree of contrast with the central devices. Wispy blemishes on the obverse are well scattered and not immediately obvious to the unaided eye. For those attempting to assemble a date set of twenties or the ultra challenging complete set, the 1887 is certainly one of the most challenging issues in the series. Population: 1 in 64 Cameo, 0 finer (1/14).
Ex: Long Beach Signature (Heritage, 1/2004), lot 7591.
From the collection of Donald E. Bently, sold for the benefit of the Bently Foundation.(Registry values: P5)

Coin Index Numbers: (NGC ID# 26E8, PCGS# 89103, Greysheet# 10069)

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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