1883 $20, DCAM PR(PCGS#99099)

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

Auctioneer

Stack's Bowers

Lot Number

20039

Grade

PR65DCAM

Price

408,000

Lot Description

Landmark rarities continue to dazzle in our current offering of Proof double eagles from the stellar James A. Stack, Sr. Collection. This 1883 is a highly significant survivor from a fabled Proof-only issue. It is also breathtakingly beautiful, bathed in deep, vivid, orange-olive color. Both sides also exhibit some hazy silver-rose overtones that further confirm the awesome originality of this piece. Bold field to device contrast is still readily appreciable, with the former areas deeply mirrored and the motifs fully impressed with a soft satin texture. Close inspection with a loupe reveals the desirable orange peel texture that is characteristic of many late 19th century Proof Liberty Head gold issues. There are no discernible blemishes, certainly not during in-hand appreciation, which confirms the coveted Gem Proof rating from PCGS. Visually stunning and technically superior, the rarity and desirability of this classic Proof double eagle issue will result in spirited bidding for this exquisite specimen.<p>While a desultory run of double eagles intended for circulation were produced in 1882, the Philadelphia Mint dispensed with even that formality in 1883. The 92 Proof coins produced represent the extent of double eagle production at the Philadelphia Mint that year, while the two Western mints took up the responsibility for circulation strike coinage. The 1883 does not have the lowest mintage of the three Proof-only issues in the Liberty Head double eagle series - that honor goes to the 1884 - but it is of equivalent rarity. No more than 30 or 35 specimens are believed to remain in numismatic holdings, seemingly indicating poor sales at the time. What happened to the balance is not known, but in all likelihood many found their way into circulation, especially around the time of the Panic of 1893, while others ended up being melted. Fortunately, it appears that the surviving coins were well cared for as many do not show numerous hairlines and other signs of significant (mis)handling. Despite this, there are simply too few attractive examples extant for market appearances to be anything but few and far between. As with many other Proof-only issues, competition is fierce to secure such a lovely example. The winning bidder on this lot will have a coin that they will cherish for many years to come.