1887 $20 PR65 Cameo NGC....

Description

1887 Liberty Head Twenty, PR65 Cameo
Stunning High-Grade Example of
This Proof-Only Issue

1887 $20 PR65 Cameo NGC. Ex: Duquesne. There are many more marvelous coins to come in this breathtaking consignment, but the present piece marks a turning point chronologically in the Liberty Head series and in this collection, marking the last of the amazingly low-mintage Philadelphia Mint dates that pepper the decade of the 1880s. The 1881 issue, struck to the extent of 2,199 circulation strikes and a complement of only 61 proofs, would be the high-water mark for much of the rest of the decade, ending with the proof-only 1887 issue, which saw only 121 proof coins struck.

Two other Philadelphia Mint issues during the decade would be struck only in proof format, the 1883 at 92 pieces and the 1884 at 71 pieces.

Even among those double eagle issues of the decade that were produced in circulation-strike format, the mintages were remarkably small: 1,000 coins for the 1886, 751 pieces for the 1885, and only 571 for the 1882. The 1886 issue is further distinguished and popular because no branch-mint coins dated 1886 were struck in the Liberty Head double eagle series.

This Gem Cameo 1887 double eagle proof coin, certified by NGC, is thus not only a culmination of this low-mintage decade, but it is also an amazingly high-quality coin in its own right. The fresh, radiant surfaces are remarkably free of mentionable distractions, showing lovely, deep mirrors in the fields against nicely frosted devices. Occasional glints of pale yellow-gold contrast with the prevailing highly attractive reddish-orange patina. The surfaces on each side show some evidence of the "orange peel" effect often seen on proof gold of this era. A small, undistracting mark between the 7 in the date and star 13 will provide a pedigree identifier.

In so fine a grade, these three proof-only dates -- 1883, 1884, 1887 --must be viewed as ultralow-mintage rarities for purposes of evaluation. An 1883 in PR65 Cameo NGC changed hands in our FUN Signature (Heritage, 1/2006), lot 3580, for $212,750. The last example of the 1887 in PR65 Cameo NGC that we handled was the ex: Richmond Collection example. It appeared in our Chicago ANA Signature (Heritage, 8/2014), lot 5747, where it realized $123,375. Census: 2 in 65 Cameo, 1 finer (4/15).
From The Duquesne Collection.(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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