1889 $20 PR65 PCGS....

Description

1889 Double Eagle, PR65
Likely the Finest Known

1889 $20 PR65 PCGS. Ex: Eliasberg. This is the numerically finest-graded proof and sole example in PR65 at PCGS of the 1889 double eagle. The twenty dollar proofs of this year are almost certainly the rarest denomination in a year notable for rare proof gold. Both the circulation strike 1889 double eagles as well as the proofs are low-mintage issues; only 44,070 examples were struck for circulation, a remarkably low total, considering that in the previous year, 1888, nearly a quarter-million pieces were struck. The proof total was also quite low in comparison, only 41 pieces reported, versus 105 proofs in 1888. Breen's Proof Encyclopedia traces 11 survivors, including one each in the Smithsonian and the ANS, and we doubt that there are indeed nine other survivors in the market.

Today certified PR65 PCGS, this piece stands alone atop the PCGS population among non-Cameo examples. PCGS shows one Cameo example each in PR60 and PR61 grades, and for Deep Cameo pieces, there is one PR64 Deep Cameo example only at PCGS. We offered that piece, from the Bob Simpson Collection, in our Boston ANA Platinum Night (Heritage, 8/2010), lot 3599, which realized $83,375. This piece was cataloged as "Gem Brilliant Proof-67" in the "United States Gold Coin Collection," the pseudonym under which Louis E. Eliasberg, Sr.'s gold coins were auctioned in 1982 by Bowers and Ruddy -- perhaps one of numismatics' worst-kept secrets.
This coin is a problem-free example of the 1889 double eagle, showing a full proof strike and generous reflectivity emanating from medium yellow-gold surfaces. A tiny reddish alloy spot appears below the E in LIBERTY on the coronet. A couple of faint hairlines and thin field marks are not of much import. The reverse shows some faint, sparse hazy brownish toning near the upper rim, but these are quibbles on a coin of obvious high quality and notable rarity.
Ex: William H. Woodin; Woodin Collection (Thomas L. Elder, 3/1911); John H. Clapp; Clapp Collection (1942); Louis E. Eliasberg, Sr. Collection / "U.S. Gold Coin Collection" (Bowers and Ruddy, 10/1982), lot 976.
From The Klamath Mountain Collection, Part II.(Registry values: P4)

Coin Index Numbers: (NGC ID# 26EA, PCGS# 9105, Greysheet# 10074)

Metal: 90% Gold, 10% Copper
Weight: 33.44 grams
AGW: 1.06oz
Mintage: 41

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 all of [The Klamath Mountain Collection, Part II ]

View Certification Details from PCGS