LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3761

1898 $20 PR66 Deep Cameo PCGS. An amazing Premium Gem

Currency:USD Category:Coins & Paper Money / US Coins Start Price:120,000.00 USD Estimated At:1.00 - 2.00 USD
1898 $20 PR66 Deep Cameo PCGS. An amazing Premium Gem
<B>1898 $20 PR66 Deep Cameo PCGS.</B></I> An amazing Premium Gem proof with exceptional contrast between the watery, mirrored fields and frosty, lustrous devices, this piece has rich orange-gold color and is nicely matched with the others in this set. Also like the others in this set, this example is fully and boldly detailed with every individual design element detailed as intricately as it was on the original die. The surfaces are pristine and virtually perfect. There is no evidence of any useful pedigree markers to help establish the provenance of this coin.<BR> Although PCGS has certified 40 proof 1898 double eagles, just four have been assigned the PR66 grade, and only two of those have also been given the coveted Deep Cameo designation. Like the 1898 proof half eagle, just 75 of these large double eagles were coined in proof format, and the current number of survivors is estimated at 35 to 40 coins, although we would not be surprised to learn that the real quantity is much smaller. Not only are population numbers inflated by resubmissions of the same coins on multiple occasions, but auction appearances are similarly inflated by repeated offerings of the same coins. Walter Breen once called this the "musical chairs effect." Breen discussed the population of this issue as he knew it in 1977, when he wrote in his <I>Proof Encyclopedia:</B></I> "This is one of the low mintage Philadelphia dates which has lately begun to stimulate date collector pressure. There are about enough proofs to satisfy the blue chip specialists, though. ... Not too many have lately shown up in the bourses. Possibly 30-odd survive, including the really badly nicked ones and the hairlines pieces."<BR> Here at Heritage, we have offered quite a few examples of this issue over the years, but rarely have we offered pieces as fine as this. Last August, we had the pleasure of presenting a PR67 Ultra Cameo piece, certified by NGC, and in the current sale we are also offering a PR66 Ultra Cameo NGC example. Those two coins, along with this piece, are the finest proofs of this date that we have ever offered. We would not hesitate to declare this piece as one of the five finest known 1898 proof double eagles.<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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