The world of coin collecting is always buzzing, and one of the most exciting events for collectors is Heritage’s American Numismatic Association Platinum Night auction. This auction will take place on August 14, right after the World’s Fair of Money. The star attractions are some rare gold $20 double eagles, particularly the Proof Coronet double eagles, which have become increasingly popular among wealthy collectors. In this article, we’ll explore these remarkable coins, their history, and what makes them so special.
| Coin | Year | Grade | Mint State | Mintage | Estimated Surviving Examples | Last Auction Price | Features |
|---|---|---|---|---|---|---|---|
| Double Eagle | 1883 | Proof 65 Deep Cameo | N/A | 92 | 28-32 | $336,000 | Razor-sharp definition, deeply mirrored fields, CAC sticker. |
| Double Eagle | 1887 | Proof 65 Deep Cameo | N/A | 121 | Up to 40 | $420,000 | Richly frosted devices, deep cameo contrast, single die pair strike. |
| Double Eagle | 1931-D | Mint State 66 | Uncirculated | 106,500 | Approximately 125 | $156,000 | Spectacular luster, one of the finest survivors from the Denver Mint. |
| Double Eagle | 1932 | MS-64+ | N/A | 1,100,000 | Fewer than 100 | $88,125 | Tremendous luster, one of three graded MS-64+, historical significance. |
What Are Double Eagles?
Double eagles are gold coins worth $20, first minted in the United States in 1849. They feature impressive designs and were made of 90% gold and 10% copper. The name “double eagle” comes from the fact that these coins are worth twice the value of a regular eagle coin, which is worth $10. Over the years, several types of double eagles have been created, with the Coronet design being one of the most recognized.
The Importance of Proof Coins
Proof coins are specially made coins that have a shiny, mirror-like finish. They are struck using polished dies and are generally produced in limited quantities, making them rare and highly sought after by collectors. The Proof Coronet double eagles from the 1880s are particularly notable for their quality and design.
Featured Coins at the Auction
Here are some of the key double eagles that will be up for auction:
1883 Double Eagle
- Grade: Proof 65 Deep Cameo
- Certified By: Professional Coin Grading Service (PCGS)
- Details: This coin is one of the finest of the 92 examples struck. The 1883 double eagle is known for its high production quality. The surfaces are beautifully preserved and display a deep contrast between the frosted design and the mirrored fields.
- Auction History: A similar coin sold for $336,000 at a previous auction.
1887 Double Eagle
- Grade: Proof 65 Deep Cameo
- Certified By: PCGS with a Certified Acceptance Corporation (CAC) sticker
- Details: This coin was part of a limited mintage of 121 pieces. About 40 of these coins are believed to survive today. It was sold for $420,000 at a previous auction, highlighting its desirability and quality.
The 1930s Melt-Rarity Gold Coins
The last decade of the Saint-Gaudens gold $20 double eagle series is known for its low mintages and survival rates. Many of these coins were melted down during the Great Depression, making surviving examples extremely valuable.
1931-D $20 Coin
- Grade: Mint State 66
- Details: With a mintage of 106,500 pieces, Heritage estimates that only about 125 of these coins exist today. This coin is one of the finer survivors and features a spectacular luster.
- Auction History: This coin previously sold for $156,000 and is considered one of the rarest examples from the Denver Mint.
1932 Saint-Gaudens $20 Coin
- Grade: MS-64+
- Details: The 1932 double eagle is the last collectible date in the series. Fewer than 100 are estimated to survive today from an original mintage of 1.1 million coins.
- Auction History: This coin last sold for $88,125 and is praised for its tremendous luster and quality.
Why Are These Coins So Valuable?
Several factors contribute to the value of these double eagles:
- Rarity: The limited number of coins produced and the low survival rates make these coins extremely rare.
- Quality: Coins graded as Proof or Mint State are often in excellent condition, which adds to their desirability among collectors.
- Historical Significance: Many of these coins have unique histories, such as being part of important collections or having fascinating stories behind their creation and distribution.
Conclusion
The upcoming auction at Heritage is a golden opportunity for collectors to acquire some of the most sought-after double eagles in American history. With their beauty, rarity, and rich stories, these coins are not just currency; they are pieces of art and history. Whether you are a seasoned collector or just starting, understanding these coins and their significance can help you appreciate the world of numismatics even more. The combination of expert grading, unique historical narratives, and the thrill of the auction makes these double eagles a highlight for anyone interested in rare collectibles.
FAQs
1. What is a double eagle coin?
Answer: A double eagle coin is a gold coin worth $20 that was first minted in the United States in 1849. It features impressive designs and is made of 90% gold and 10% copper.
2. Why are Proof coins more valuable than regular coins?
Answer: Proof coins are produced with special processes that give them a shiny, mirror-like finish. They are typically made in limited quantities, which makes them rarer and more valuable to collectors.
3. What does “Deep Cameo” mean in coin grading?
Answer: “Deep Cameo” is a grading term used to describe coins that have a strong contrast between the background and the design elements. This contrast is achieved through special minting techniques that create a frosted appearance for the design against a highly reflective background.
4. Why are so few 1931-D double eagle coins available?
Answer: Many 1931-D double eagle coins were melted down during the Gold Recall of 1933, which significantly reduced their numbers. Today, only about 125 of these coins are estimated to exist in collector’s hands.
5. How can I participate in the Heritage auction?
Answer: To participate in the Heritage auction, you can register on their website, browse the auction catalog, and place bids on the items you are interested in. It’s a good idea to review the terms and conditions before bidding.