Rare Double Eagle Sells For More Than $200,000

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Proof $20 Liberty Head gold coins, known as double eagles, have always been a favorite of affluent collectors and investors of original U.S. gold coins.

At the Central States Numismatic Show, an 1883 double eagle certified by PCGS in Proof 64 Deep Cameo sold at auction for $204,000. A significant sale considering the last 1883 double eagle in PCGS Proof 64 Deep Cameo sold for $158,625 in August 2014.

Much like the famous 1895 Morgan dollar, which is known only through proof strikes, no 1883 double eagles were produced for circulation at the Philadelphia Mint. 1883 double eagles are highly sought after issues as they are the only double eagles struck in Philadelphia in 1883.

The 1883 double eagle has a proof-only mintage of just 92 coins. However, it is believed that just 40 of those were released to collectors. Today, I believe there are less than 25 coins known to have survived in all grades, including two at the Smithsonian's National Numismatic Collection and one at the American Numismatic Society.

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