1889 $20 PR62 Ultra Cameo NGC....

Description

1889 Twenty Dollar, PR62 Ultra Cameo
Extreme Proof Gold Rarity
Only 10 to 12 Pieces Believed Known

1889 $20 PR62 Ultra Cameo NGC. The 1889 is one of the most underrated issues in the proof Liberty double eagle series. Mintages for proof double eagles increased somewhat in the 1880s over the extremely low production totals of the previous decade, partly in response to the resumption of specie payments. After 1879, collectors who wished to acquire a proof double eagle could now purchase it with paper currencies, in direct contrast to the 1860s and 1870s when gold proofs could only be paid for with gold coin -- something with which few people were willing to part.

Proofs in the 1880s were struck in advance to fulfill orders throughout the year, and in most cases significant quantities were left unsold and were later destroyed. Thus, mintage figures have little affect on the actual rarity of any given date.

The 1889 proof twenty stands out from its counterparts with an unusually low production total of just 41 coins, the lowest proof mintage of the decade behind the 1880, of which only 36 pieces were struck. Moreover, few examples were actually distributed, and today it is believed that no more than 12 or 15 examples survive, with the definitive numbers liking being as low as 10 to 12 coins. This includes a single coin in the Smithsonian Institution which grades PR64 Deep Cameo, per Garrett and Guth. David Akers called the 1889 "more rare than any of the famous and highly touted Proof issues from 1881-1887, and more rare than any of the dates that follow from 1890-1907." A bold statement, but surprisingly accurate, especially when one considers the frequency of auction appearances. In the past two decades, we have offered only four previous examples of this incredible rarity.

This Ultra Cameo representative is boldly struck and starkly contrasted, with heavy frost over the relief elements. Light lines in the fields limit the grade, but the eye appeal is remarkably sharp. This exceptional coin would be a hallmark addition to a proof gold rarities collection. Census: 2 in 62 Ultra Cameo, 6 finer (4/15).(Registry values: P4)

Coin Index Numbers: (NGC ID# 26EA, PCGS# 99105, Greysheet# 10076)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 1.06oz

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.

View Certification Details from NGC