US Coins

Market Analysis: Flashy Proof 1902 gold $20

Perhaps the showiest piece in Scotsman’s July 22 auction was a 1902 Coronet gold $20 double eagle graded Proof 64 by Professional Coin Grading Service with a green Certified Acceptance Corp. sticker that spoke to the quality within the grade.

John Dannreuther estimates that as many as 80 have survived from the original mintage of 114 in his recent book United States Proof Coins: Volume IV: Gold.

Most representatives are brilliant, without significant contrast between the fields and devices. This more uniform brilliance was a break from the cameo effect, which seemed desirable in the prior decade. Dannreuther commented, “Why the Mint no longer heavily frosted the devices is unknown, but one must wonder if collectors of the day complained.”

Scotsman praised the bold strike of the offered double eagle that presented some modest cameo contrast while acknowledging that “fleeting hairlines show within the fathomless fields, but that is entirely in keeping with the very choice grade level.”

It realized $76,700.

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