1864 $20, CAM PR(PCGS#89076)

December 2025 Showcase Auction - The James A. Stack, Sr. Collection Part I

Auctioneer

Stack's Bowers

Lot Number

20033

Grade

PR62CAM

Price

264,000

Lot Description

An elegant example of a very rare classic Proof gold issue. The eye appeal is superior at the assigned grade level, the surfaces with bold cameo contrast between mirror fields and fully impressed, softly frosted motifs. Faint hairlines point to ancient numismatic handling, yet while these are sufficient to preclude a Proof-63 grade, they are light enough to be minimally distracting during in-hand viewing. No sizable marks are present, as well. The coin's color is delightful and combines subtle pinkish-rose highlights with dominant orange-gold and deep olive.<p>Despite the fact that no more than half of the 30 Proofs produced in 1863 sold to contemporary collectors, the Mint increased the mintage of the Proof double eagle to 50 coins in 1864. As the Civil War approached its bloody conclusion, however, there was little time (and even less disposable income) in the North for pleasurable pursuits such as numismatics and, once again, it seems that fewer than 20 Proof double eagles were actually sold in 1864. The remaining coins were either melted or released into commerce alongside circulation strikes; several pieces may have been spent by early owners when confronted by the economic realities of the Civil War and Reconstruction eras, further reducing the population available to later collectors.<p>The modern census for confirmed Proof 1864 double eagles put forth by John W. Dannreuther in his 2018 reference <em>United States Proof Coin</em>s includes 13 specimens, two of which are impounded in the National Numismatic Collection at the Smithsonian Institution, with a third in the collection of the American Numismatic Society. The author also provides a list of "Additional Appearances" in early auctions that cannot be reconciled with any of the pieces seen in the modern market. The James A. Stack, Sr. specimen is certainly one of these, and its appearance in this sale brings the roster of known Proof 1864 double eagles up to 14, 11 of which are privately owned. It is with great pleasure that we present this extraordinary rarity for the consideration of advanced bidders. It is a lovely specimen that would serve as a highlight of any collection in which it is included.