Lot 1374
1907 $20 Liberty. NGC graded Proof 65 Cameo. Only 78 pieces minted. An exquisite Gem Cameo Proof example glittering with slightly cloudy natural greenish-golden color surfaces. On the Proofs, the date is almost centered, slants up; "Broken Nose" as in some 1906 Double Eagle Proofs. This is the final year of design for mint engraver James Barton Longacre's venerable Liberty Head. Uses the modified reverse hub of 1900-07 having the back of the eagle's neck smooth.
This lovely specimen has virtues without limit: The devices are lightly frosted, imparting a pleasing and desirable cameo appearance. A few wispy hairlines are visible on each side, consistent with the grade assigned. This piece is unquestionably a Gem Proof, spot-free with remarkable glass-smooth fields on either side exhibiting light "orange peel" texture when light strikes it at the proper angle. The bridge of the nose is broken and polished on the Proofs of 1907, about level with the upper eyelid as evidenced in the photograph. On the reverse, a small area of die polish is visible on the scroll between the letters L and U of PLURIBUS, also seen on most (all?) specimens. We are unaware of any business strikes that show either of these two characteristics.
This was a transition year for the double eagle. Liberty design gracefully yielded the stage at year end to Saint-Gaudens' innovative $20 gold piece (the High Relief design was not coined until November 1907). It seems that 40 or so of the Proofs still exist today. Auction records, while plentiful, may be of several specimens that have made a number of appearances in recent years. With awe-inspiring eye appeal and solid technical merits, we would not be surprised to see many bids on this handsome coin. In a new 4 pronged NGC holder. Pop 6; 8 finer, 2 in 65 Star, 5 in 66, 1 in 67 (PCGS # 89123) .
Estimated Value $50,000 - 55,000.
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