Lot 3116
1884 $20 Liberty. NGC graded Proof 64 Cameo. Lovely golden toning on both sides. Only 71 minted in this proof only year. An issue that needs no prologue for gold specialists, the 1884 was struck solely in Proof. The official figures of 71 coins, which is fewer than those of the Proof-only 1883 and 1887 deliveries makes this the rarest issue of this trio, but just how rare has been heatedly discussed within the rare coin community for years. Breen believed 16 to 20 1884 $20s were extant and this figure was quoted for many years since his opinion held sway for much of the last third of the 20th century. Since Breen's encyclopedia, however, Fuljenz & Winter propose a range of 15 and 17 coins in their 2000 book Type Three Double Eagles 1877-1907: A Numismatic History and Analysis. More old school still, David W. Akers believed only 13 to 15 were known, and observed that "as a date, the 1884 is the second rarest in the entire Liberty head double eagle series after the excessively rare 1861 Paquet." There can be little argument that the present specimen represents a numismatic milestone of undeniable importance.
The fields on this piece have the delicate orange-peel surface reminiscent of many 19th century Proof gold pieces. Brightly sparkling with mirror-finish and intensity, the depth of reflectivity corresponds to the assigned grade. Further, the surfaces are also free of most hairlines and lint marks; there are no overt marks on either side which is a side-blessing for the connoisseur of rare dates. Contrasting the mirror fields, the design motifs are cameo frosted, thus heightening the effect of the device's relief.
An outstanding rarity as presented here, a coin in impeccable condition that is among the finest reported. Aficionados of the series may wish to stretch a little in order to obtain this prime rarity. Pop 5; 2 finer (PCGS # 89100) .
Estimated Value $100,000 - 110,000.
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