1904 $20 JD-1, High R.4, PR64 Cameo PCGS....

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1904 Liberty Double Eagle, PR64
Elusive Cameo Example
Rarely Seen Finer

1904 $20 JD-1, High R.4, PR64 Cameo PCGS. The 1904 Liberty double eagle is an elusive issue in proof format, but business-strike examples are plentiful. The Philadelphia Mint struck a relatively modest production of 98 proof Liberty double eagles for collectors in 1904, down considerably from the 158 proofs struck the year before. By contrast, the business-strike mintage for 1904 was a whopping 6.2 million pieces. The proofs were delivered in quarterly batches of 42, 15, 18, and 23 pieces, with the final delivery on December 23. A single pair of dies was used to strike all the proofs. The date slants slightly up from left to right on the proofs and there is some die polish in the bottom of the second and sixth clear stripes of the shield, making it possible to distinguish between proofs and prooflike business strikes. Many high-quality business strikes are available, so there has never been any date pressure on the small supply of proofs. Writing in United States Proof Coins, Volume IV: Gold, Part II, John Dannreuther estimates the surviving proof population at 50 to 65 examples in all grades.

For some unknown reason, the Mint switched to an all brilliant finish for proof coins in 1902. The design elements were not heavily frosted after that, drastically reducing the number of proofs with Cameo surfaces in later years. A fraction of the 1904 proof mintage, including the present coin, shows enough field/device contrast to merit a Cameo designation, but Deep or Ultra Cameo examples are rare.

The coin offered here is a spectacular Choice proof, with unusually frosty devices and deeply mirrored fields that create a bold cameo effect when the coin is tilted in the light. The design elopements are fully struck and the well-preserved yellow-gold surfaces are free of mentionable distractions. Overall eye appeal is outstanding. We expect intense competition from series specialists and Registry Set enthusiasts when this lot is called. Population: 7 in 64 Cameo, 7 finer (7/25)
From The Cleveland Lake Collection.

Coin Index Numbers: (Variety PCGS# 107373, Base PCGS# 89120)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

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