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1908 $20 Motto PR66+ PCGS. CAC. JD-1, Low R.5....
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Description
1908 Motto Double Eagle, PR66+
First Matte Proof Issue
Classic 20th Century Rarity
1908 $20 Motto PR66+ PCGS. CAC. JD-1, Low R.5. The
Philadelphia Mint found it impossible to polish the basined
surfaces and high relief devices of the new Saint-Gaudens design in
the same manner as the old brilliant proofs of previous years.
Accordingly, they adopted an artistic matte, or sandblast, finish
for gold proof coins in 1908. After striking, the 1908 proofs were
heavily sandblasted with a coarse grain of sand that produced a
dark olive-gold patina, with none of the reflective fields and
field-device contrast of earlier proofs. The resulting finish
resembled that seen on some European medals of the period, but
contemporary U.S. collectors much preferred the old brilliant proof
finish. Mint records indicate only 101 proof double eagles were
distributed in 1908. Remaining unsold pieces were subsequently
melted. Probably no more than 60 to 70 examples survive today in
all grades.Gold proof sets began appearing on the secondary market almost immediately, as dealers sought to capitalize on the novelty of the new design. An early auction appearance was in lot 476 of the Andrew C. Zabriskie Collection (Henry Chapman, 6/1909), "1908. Gold proof set, $20, $10, $5, $2 1/2. Dull sandblasted finish. Extremely rare. Set." The lot realized $70, a fairly strong price at the time. Collectors eventually came to appreciate the sandblast proofs and present-day numismatists hold them in high regard. Recent sales of the 1908 proof double eagle include the PR66 PCGS example in lot 4569 of the FUN Signature (Heritage, 1/2020), which realized $96,000.
The present coin is a Plus-graded Premium Gem, with razor-sharp definition on all design elements. The columns in the Capitol Building are individually countable and Liberty's facial features are sharply delineated. The virtually flawless surfaces display even honey-gold color across both sides of the coin. The outstanding quality and eye appeal are attested by the CAC sticker. This coin should find a home in the finest collection or Registry Set. This coin is part of a complete 1908 proof set, with the other coins offered in neighboring lots in the catalog.
Population: 6 in 66 (1 in 66+), 2 finer. CAC: 2 in 66, 2 finer (1/20).
From The Stunning 1908 Proof Set. (Registry values: N10218)
Coin Index Numbers: (NGC ID# 26GV, PCGS# 9205)
Weight: 33.44 grams
Metal: 90% Gold, 10% Copper
Learn more at the Newman Numismatic Portal at Washington University in St. Louis.
View all of [The Stunning 1908 Proof Set ]
Auction Info
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Revised Edition by Roger Burdette, and edited by James L. Halperin and Mark Van Winkle
Saint-Gaudens Double Eagles is an issue-by-issue examination of this artistically inspired series of gold coins.
Each date and mintmark is reviewed with up-to-date information, much of which has never been previously published.
The book is based on two extraordinary collections: The Phillip H. Morse Collection and the Dr. and Mrs. Steven L. Duckor Collection.
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