LOT Old Heritage Auctions  /  2007 NOV Dallas, TX US Coin Signature #452  / 

2359

1885 $20 AU55 Prooflike NGC

Currency:USD Category:Coins & Paper Money / US Coins Start Price:19,000.00 USD Estimated At:1.00 - 100,000.00 USD
1885 $20 AU55 Prooflike NGC
<B>1885 $20 AU55 Prooflike NGC.</B></I> The year 1885 produced two great business-strike gold rarities, the quarter eagle and double eagle. While the mintage of the quarter eagle was only 800 pieces, the business strike emission of double eagles, 751 coins, is among the lowest of any regular-issue U.S. gold coin. (The 1886 double eagle also saw a mintage of only 1,000 business strikes. In the latter year no branch mints struck double eagles, either, unlike in 1885 when Carson City struck more than 9,000 pieces and San Francisco produced almost 700,000.) From the available evidence, the best indication for the rarity of 1885 doubles eagles is the abundant mintage of Morgan silver dollars made in Philadelphia--nearly 18 million pieces, most of which were then piled up in Treasury vaults. <BR> Bowers' <I>Guide Book of Double Eagle Gold Coins </B></I>describes differences in the two dies: "The date on the circulation strikes is placed slightly differently from that on the Proofs, farther to the left, with the first 8 centered under the B (J.B.L.), while on the Proofs the center of the 8 is ever so slightly to the right. The date is lower than on the Proofs. On the circulation strike the 5 is much closer to the dentils than to the curl above, while on the Proofs it is just slightly closer to the dentils than the curl above. The reverse die, while highly prooflike, is different from that used to strike Proofs, the latter having a small lump at the upper left of the F (OF). The Proof die has a portion of the rightmost feather missing where it joins the arrow shaft." <BR> All of these diagnostics confirm that the present piece is conclusively a business strike. The devices are nonetheless coated with a moderate layer of mint frost, with well mirrored fields. A few light ticks consistent with the grade appear on the yellow-gold surfaces, with areas of deeper amber on each side. Surprisingly few of the business strikes have garnered a Prooflike designation, as this is one of only two pieces so certified at NGC. Census: 1 in 55 Prooflike, 1 finer (9/07).<BR><BR><BR><B>Coin Engraver:</B> James B. Longacre<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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