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Grandman

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Journal Entries posted by Grandman

  1. Grandman
    Big Thank You to NGC
    On January 8th, the GrandView Double Eagle Collection was honored with a Best Classic Set award in the category "Liberty Head Double Eagles, 1850-1907, Circulation Issues". I was anticipating a Best in Category award, but never expected a Best Set award, since there are so many incredible sets in popular areas such as Lincoln Cents, Buffalo Nickels, Mercury Dimes, Morgan Dollars, etc.
    http://www.ngccoin.com/news/article/5057/NGC-registry-award-winners/
    I would like to thank NGC for hosting the Registry and allowing collectors to share their entire collections with collectors everywhere. This service enhances the enjoyment of coin collecting for many, many collectors. I really appreciate the Judge's comments on the collection, which are quoted in the following paragraph.
    Grandman -- GrandView Double Eagle Collection
    "The combination of high bullion value and a very extensive roster of coins is enough to discourage most from attempting to complete a set of Coronet Liberty Double Eagles, but Grandman is very close to achieving that goal. All but the rarest pieces are already present. Since many issues are unknown or nearly so in Mint State, this collection features a blend of XF and AU pieces for the early dates, with a long run of MS coins for all but one of the post-1893 coins. Standout specimens include 1854-S (AU 55), 1857-S (MS 65), 1868 (AU 58), 1885-CC (AU 53) and a particularly nice example of the rare 1892 (AU 58 PL)."
    In addition to the coins that were specifically named above, a few additional favorites include:
    1855-O (XF40), 1870 (AU58), 1861 (AU58), 1862-S BroJo (AU58), 1869-S (AU58+ SRH), 1890-CC (AU58 PL), 1892-CC (AU58 PL) and 1893-CC (AU58).
    Prooflike double eagles are often more than 100 times rarer than their non-PL counterparts. The Grandview collection includes more than 37 prooflike $20 Liberties, inducing some dates for which only a handful are known to exist in prooflike condition.
    Once again, thank you, and congratulations to all of this year's winners.
    Grandman
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=183407&Ranking=all

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  2. Grandman
    Prooflike Coins Lose Respect with New Scoring System
    On Aug 19, 2015, there was a major change to the NGC Registry points awarded for $20 Liberty double eagles. This change had a dramatic effect on the relative rankings for some sets. Overall, the point values were increased for all dates, however, the point values for non-prooflike rare dates increased dramatically, eg, an 1886 $20 XF45 went from 5591 to 11970, and 1861-O $20 XF40 went from 2699 to 8686. However, rare double eagles with the prooflike designation increased very modestly. This scoring change resulted in the Registry set that was previously in second place (Swiss collection) moving from a distant #2 position to a leading #1 position without adding a single coin.
    The Grandview Collection held the top position for 2+ years in the Registry set: "Liberty Head Double Eagles, 1850-1907, Mint State and Proof." Prior to the scoring change, the point values were:
    Grandview Collection on Aug 18, 2015: 350287 total points (leading by 18017 points)
    Swiss Collection on Aug 18, 2015: 332270 total points
    After the scoring change:
    Swiss Collection: 549338 total points
    Grandview Collection: 512647 total points (trailing by 36691)
    Several better date twenties including rare prooflike examples were recently added to the Grandview Collection, but currently still trails by more than 20,000 points. Recent coins added include a 1890-CC $20 AU58 PL (unique with the PL designation, image shown below), 1876 $20 MS62 PL, and 1898-S $20 MS63 DPL (the only CAC approved DPL Type 3 double eagle).
    The Grandview collection includes more than 37 prooflike $20 Liberties which were only modestly affected by the scoring change even though these PL coins are often more than 100 times rarer than their non-PL counterparts, and value of prooflike examples have increased relative to non-PL examples over the past decade.
    I am surprised that the NGC Registry scoring system does not take into account the relative or absolute rarity of double eagles in prooflike or deep prooflike condition. Interestingly, in other series, eg, Morgan dollars, scarce PL coins can have much higher scores than non-PL coins of the same date, see 1921 $1 example below, while in the $20 Liberty double eagle series, prooflike coins never have a higher point value than the next highest non-PL grade, see 1874-S $20 example, yet can be much greater in value.
    1921 Morgan Dollar (0.9% designated PL or DPL)
    105868 coins in all grades, 794 coins in PL and 165 coins in DPL
    In MS64 (non-PL) 320 Registry points
    In MS65 (non-PL) 575 Registry points
    In MS64 PL 1707 Registry points
    In MS64 DPL 6651 Registry points
    1874-S $20 (only 2 designated PL in all grades, less than 0.1% in PL)
    In AU58 (non-PL) 2614 Registry points (pop 1237/611 higher)
    In MS60 (non-PL) 3194 Registry points (pop 201/401 higher)
    In MS61 (non-PL) 3952 Registry points (pop 367/34 higher)
    In MS62 (non-PL) 5264 Registry points (pop 31/3 higher)
    In AU58 PL 2740 Registry points (pop 1/1 higher)
    NGC is the established leader in the area of grading prooflike coinage. I have purchased many coins with reflective surfaces in PCGS holders and submitted those coins to NGC in an attempt to receive the prooflike designation. I would have thought that NGC would have considered the rarity and desirability of prooflike coinage when it revised the scoring system for $20 Liberty double eagles. Nonetheless, I appreciate the opportunity to participate in the NGC Registry and all of the effort that goes into maintaining it.
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968
    One last example of the disconnect between Registry point value and rarity is this 1890-CC $20 AU58 PL, which is the only coin with the PL designation in any grade. It earns 5322 points, while a much more common and less valuable MS61 example earns 6400 points.

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  3. Grandman
    One of Only Three 1901 Double Eagles Designated Prooflike by NGC.
    With each interesting new acquisition for the Grandview Collection of Liberty Double Eagles in 2014, I plan to describe the coin and relevant background information with a journal post.
     
     
     
    If you have seen my Registry set of Liberty Double Eagles, you probably know that I prefer prooflike examples over coins with typical frosty surfaces. When turning a PL coin under a light, the reflective fields and contrasting devices are extremely attractive, however, in images the reflective surfaces tend to exaggerate even minor surface abrasions. Prooflike coins offer an alternative to proofs which were produced in small quantities and are very expensive in today's market.
     
     
     
    I recently purchased a prooflike 1901 $20, which was graded MS62 PL by NGC. The coin has reflective fields on both the obverse and reverse which accounts for its PL designation, along with moderately contrasting frosty devices. The coin was graded MS62 by NGC due to the scattered marks, which are exaggerated by the contrast against the reflective fields. The only singular abrasion which catches the eye under close examination is a shallow scrape near the chin. The strike is excellent on this coin providing sharp detail throughout, but is especially obvious on the hair, coronet and stars.
     
     
     
    The 1901 double eagle is legitimately rare in prooflike condition. NGC has graded a total of 4939 coins with only 3 designated as PL. This amounts to a minuscule percentage of 0.06% of all coins of this date graded by NGC. The highest grade among the PL examples is MS63 (based on August 2014 NGC Census data).
     
     
     
    As I have mentioned in previous journal posts, I am surprised that the NGC Registry scoring system does not take into account the relative or absolute rarity of double eagles in prooflike or deep prooflike condition. The number of certified coins and registry points are listed below for reference. Interestingly, in other series, eg, Morgan dollars, scarce PL coins can have much higher scores than non-PL coins of the same date.
     
     
     
    1901 $20 NGC MS62 Non-PL (1065 in MS62): Registry Score 1028
     
    1901 $20 NGC MS63 Non-PL (1659 in MS63): Registry Score 1200
     
    1901 $20 NGC MS64 Non-PL (1381 in MS64): Registry Score 1683
     
    1901 $20 NGC MS64+ Non-PL (16 in MS64+): Registry Score 2040
     
    1901 $20 NGC MS65 Non-PL (300 in MS65): Registry Score 2754
     
     
     
    1901 $20 NGC MS62 PL (2 in MS62 PL with 1 finer in PL): Registry Score 1091
     
     
     
    In MS62, a non-PL coin has a Registry score of 1028 points, while a PL example receives only an extra 63 points, but it is more than 1500x's rarer according to NGC census data.
     
     
     
    The amount of Registry points received for PL designated coins is out-of-touch with market values. The MS62 PL commands a higher price than non-PL coins graded higher by 2 points. However, while the price of a MS62 PL and MS64+ non-PL are approximately equal, the Registry point difference is substantial (1091 versus 2040). In fact, I am replacing my previous 1901 in MS64+ non-PL with this MS62 PL example resulting in a reduction of 949 Registry points (though I consider it an upgrade).
     
     
     
    Images of the 1901 PL double eagle from Grandview Collection are linked below. The coin is shown in its NGC holder with the PL designation. I have not submitted the coin to CAC for review.
     
     
     
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1747627
     
     
     
    Grandview Collection
     
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

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  4. Grandman
    1893 Double Eagle with Gorgeous Color--Tied for finest graded at PCGS.
    With each interesting new acquisition for the Grandview Collection of Liberty Double Eagles, I plan to describe the coin and relevant background information with a journal post.
    The 1893 Double Eagle is considered common in grades of MS62 and lower. In MS63, it becomes scarce and sells for a premium over ultra-common dates like 1904, 1900 and 1903. At the MS64 level, it becomes difficult to find and is undervalued in my opinion. PCGS has graded 66 1893 twenties in MS64, 3 coins in MS64+ and none finer (based on April 2014 PCGC population data). In the NGC census report (April 2014), there are two coins finer than MS64 listed. CAC has approved 38 1893 Double Eagles in all grades with 5 in MS64 and none finer.
    The 1893 $20 in the Grandview Collection was graded by PCGS as MS64+ and approved by CAC. I really like the vibrant color of this coin with yellow-gold at the centers progressing to a deeper orange-color near the periphery. The strike is bold and the high points have a dusky color, which don't detract from the eye appeal, but provide evidence of its originality.
    Obverse and reverse images of the 1893 Double Eagle from the Grandview Collection can be found using the link below. Images of the coin in its holder are shown below.
    NGC Registry Gallery
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1637879
     
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

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  5. Grandman
    Only 1891-S Double Eagle Designated Deep Prooflike by NGC.
    With each interesting new acquisition for the Grandview Collection of Liberty Double Eagles in 2014, I plan to describe the coin and relevant background information with a journal post.
    If you have seen my Registry set of Liberty Double Eagles, you probably know that I prefer prooflike examples over coins with typical frosty surfaces. When turning a PL coin under a light, the reflective fields and contrasting devices are extremely attractive. In images, the reflective surfaces tend to exaggerate even minor surface abrasions in images. Prooflike coins offer an alternative to proofs which were produced in small quantities (158 or fewer coins) and are very expensive in today's market. Proofs were almost exclusively made at the Philadelphia mint. The only San Francisco minted proof twenty that I am aware of is the relatively unknown 1854-S $20 which is part of the Smithsonian collection. Some call this '54-S $20 a presentation strike because of its surface texture. If you want a San Francisco gold coin with proof qualities, you are out of luck unless you can find a deeply prooflike circulation strike.
    I recently purchased a prooflike 1891-S $20, which was graded MS61 DPL by NGC. The coin has extremely reflective fields, which accounts for its DPL designation, and nicely contrasting frosty devices. The coin was graded MS61 by NGC due to the scattered marks, which are exaggerated by the contrast against the reflective fields. There are no singular hits or marks that are distracting to the eye appeal of this coin. NGC has graded just over 5,300 1891-S double eagles with only 15 coins designated as PL (0.3% of all graded by NGC). The highest grade among the PL examples is MS62 (based on March 2014 NGC Census data). The 1891-S $20 in the Grandview Collection is the only coin designated DPL in any grade.
    As I have mentioned in previous posts, I am surprised that the NGC Registry scoring system does not take into account the relative or absolute rarity of double eagles in prooflike or deep prooflike condition. The number of certified coins and registry points are listed below for reference. Interestingly, in other series, eg, Morgan dollars, scarce PL coins can have much higher scores than non-PL coins of the same date.
    1891-S $20 NGC MS61 Non-PL (2146 in MS61 with 2434 finer): Registry Score 1066
    1891-S $20 NGC MS62 Non-PL (1892 in MS62 with 542 finer): Registry Score 1531
    1891-S $20 NGC MS63 Non-PL (483 in MS63 with 59 finer): Registry Score 2368
    1891-S $20 NGC MS64 Non-PL (57 in MS64 with 2 finer): Registry Score 4217
    1891-S $20 NGC MS61 PL (7 in MS61 PL with 5 finer in PL): Registry Score 1131
    1891-S $20 NGC MS62 PL (5 in MS62 PL with 0 finer in PL): Registry Score 1617
    1891-S $20 NGC MS61 DPL (1 DPL in all grades; none finer): Registry Score 1505
     
    In MS61, a non-PL coin has a Registry score of 1066 points, while a PL example only receives an extra 65 points, but it is more than 300x's rarer according to NGC census data. In MS61, a DPL example is awarded fewer points compared with an MS62 non-(D)PL coin. In fact, replacing my current MS63 non-PL 1891-S with a MS61 DPL example resulted in a reduction of 863 Registry points.
    The amount of Registry points received for (D)PL designated coins is out-of-touch with market values. The MS61 DPL commands a much higher price than non-PL coins graded higher by 2 points, and on par with coins graded MS64. However, while the price of a MS61 DPL and MS64 non-PL are approximately equal, the Registry point difference is substantial (1505 versus 4217).
    Images of the 1891-S DPL double eagle from Grandview Collection are below. The coin is shown in its NGC holder with the DPL designation. I have not submitted the coin to CAC for review.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1687815
     
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

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  6. Grandman
    One of three 1875 double eagles designated prooflike by NGC.
    I usually write a journal entry when I add a new coin to the Grandview Collection of Liberty Double Eagles. Today, however, I am writing about a coin that has been in my collection for many years, but was recently crossed over to a new holder.
    As a collector of prooflike gold, I prefer coins that are designated prooflike by NGC. On rare occasions in the past, I have purchased coins that I considered prooflike in PCGS holders. About five years ago, I purchased a prooflike 1875 $20 in a PCGS MS60 holder and paid a premium for the prooflike qualities. The coin has deeply reflective fields and nicely contrasting frosty devices. Typically coins with an MS60 grade are heavily bag marked with deep and distracting hits. This coin received the MS60 grade due to numerous tiny abrasions on the obverse fields which are exaggerated by the reflective fields. There are no singular hits or marks that are remotely distracting to the eye appeal of this coin.
    In September, I finally submitted this 1875 $20 to NGC. Since I was nearly certain the coin would be designated prooflike, I indicated cross at any grade on the submission form. Several weeks later, the coin was graded and received the same grade that PCGS initially assigned and the PL designation.
    NGC has designated just 3 - 1875 double eagles as PL with 2 graded MS60 and the remaining coin an MS61. Among non-PL 1875 twenties, NGC has graded 1320 coins in all grades. Thus, for all 1875 double eagles graded by NGC, the percentage of prooflike coins is 0.23% (based on December 2013 Census data).
    As I have mentioned in previous posts, I am surprised that the NGC Registry scoring system does not take into account the relative or absolute rarity of double eagles in prooflike condition. The number of certified coins and registry points are listed below for reference. Interestingly, in other series, eg, Morgan dollars, PL coins can have much higher scores than non-PL coins of the same date.
    1875 $20 NGC AU58 Non-PL (383 in AU58 with 783 finer): Registry Score 1342
    1875 $20 NGC MS60 Non-PL (170 in MS60 with 613 finer): Registry Score 1410
    1875 $20 NGC MS61 Non-PL (346 in MS61 with 267 finer): Registry Score 2048
    1875 $20 NGC MS62 Non-PL (235 in MS62 with 32 finer): Registry Score 3103
    1875 $20 NGC MS60 PL (2 in MS60 PL with 1 finer in PL): Registry Score 1490
    In MS60, a non-PL coin has a Registry score of 1410, while a PL example only receives an extra 80 points, but it is more than 300x's rarer according to NGC census data. In MS62, a non-PL example receives more than double the Registry points compared with an MS60 PL, even though the prooflike coin is approximately 100x's rarer, and an 1875 $20 with the PL designation would sell for more than an 1875 $20 graded MS62.
    Images of the 1875 double eagle from Grandview Collection are below. The coin is shown in its NGC holder with the PL designation.
     
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1633572
     
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

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  7. Grandman
    One of eight 1889-S double eagles designed prooflike by NGC.
    I usually write a journal entry when I add a new coin to the Grandview Collection of Liberty Double Eagles. Today, however, I am writing about a coin that has been in my collection for several years, but was recently crossed over to a new holder.
    As a collector of prooflike gold, I prefer coins that are designated prooflike by NGC. On rare occasions in the past, I have purchased coins that I considered prooflike in PCGS holders. About three years ago, I purchased an 1889-S $20 in a PCGS MS62 holder. The coin had reflective fields and nicely contrasting frosty devices, especially on the obverse. I was nearly certain the coin would receive the PL designation if submitted to NGC, and it would be a nice score, even though I paid a 50% premium over a typical PCGS MS62 at the time.
    In September, I finally submitted the 1889-S $20 PCGS MS62 to NGC. Since I was nearly certain the coin would be designated prooflike, I indicated cross at any grade on the submission form. Several weeks later, the coin was graded and as expected the coin was awarded the PL designation, though it received a lower grade from NGC--it was in an MS61 PL holder. I was a surprised that it downgraded to a 61, but happy that it is now in a PL holder. The obverse fields have deep mirrors, and a few shallow scattered marks in front of the portrait which was likely the reason for the 61 grade, however, I believe the MS62 grade is more fitting for this coin.
    NGC has designed 8 - 1889-S double eagles as PL with 7 graded MS61 and the remaining coin an MS62. Among non-PL 1889-S $20s, NGC has graded 1733 coins in all grades. Thus, for all double eagles graded by NGC, the percentage of prooflike coins is 0.46% (based on October 2013 Census data).
    It is surprising that the NGC Registry scoring system does not take into account the relative or absolute rarity of this date in prooflike condition. The reduction in Registry points going from MS62 (2124) to MS61 PL (1345) is 779 points. The number of certified coins and registry points are listed below for reference. Interestingly, in other series, eg, Morgan dollars, PL coins can have much higher scores than non-PL coins of the same date.
    1889-S $20 NGC MS62 Non-PL (525 in MS62 with 113 finer): Registry Score 2124
    1889-S $20 NGC MS61 PL (7 in MS61 PL with 1 finer): Registry Score 1345
    1889-S $20 NGC MS61 Non-PL (658 in MS61 with 638 finer): Registry Score 1271
    Images of the 1889-S double eagle from Grandview Collection are below. The coin is shown in its original PCGS holder and NGC holder with the PL designation.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1194029
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

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  8. Grandman
    The only 1878-S double eagle with the Star Designation for its prooflike reflective fields.
    With each new acquisition for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post.
    I have been wanting to upgrade the 1878-S $20 in my collection for many years, but until recently could not find the right coin. There are only two 1878-S twenties with the PL designation both in MS61 (NGC Census 9/2013), so it would be unlikely to find one of them. I have looked at many 1878-S double eagles in MS62, but nearly all of them lacked eye appeal like so many early type 3 dates. When nice examples do become available, they are in high demand. One such example in a green label PCGS holder recently sold in the Heritage Long Beach auction for $11,162.50, which is nearly double the price of a typical MS62 coin.
    Recently, I located an 1878-S $20 NGC MS61*. NGC has awarded the star designation to just a single 1878-S $20, which reflects the below average eye appeal of most examples. The fields on this coin are nicely reflective and definitely merit the star designation. In fact, the reflectivity is very close if not equal to that of many NGC designated PL coins. A couple of obverse abrasions, though not distracting, account for the MS61 grade, while the reverse would receive an MS62 grade on its own. Many early San Francisco type 3 double eagles are not well struck. This coin has a better strike than most showing nice obverse detail, and on the reverse, the shield lines are well defined, which is a commonly weak area on many examples.
    Images of the 1878-S double eagle in the Grandview Collection are below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1599320
     
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

  9. Grandman
    One of six 1900 double eagles designed prooflike by NGC.
    With each new acquisition for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post.
    NGC has designated only six 1900 double eagles as prooflike in all grades with three in MS62 PL and two finer both in MS63 PL (Aug 2013).
    The 1900 is the second most common liberty head twenty with about 47,000 graded. This number is well behind the ubiquitous 1904 with 215,000 graded by NGC, however, the number of coins designated as PL is 6 and 728, respectively. While the overall percentage of PL double eagles of any date is really small (0.33% for 1904), the percent for 1900 is minuscule at 0.013%.
    1900: 6 in PL out of about 47,000 = 0.013%
    1904: 728 in PL out of 215,000 = 0.33%
    As I mentioned in my journal entry for the 1898 $20 NGC AU58 PL which has a low Registry score considering its rarity, the 1900 $20 NGC MS62 PL with only six coins in all grades has a measly score of 1410 which doesn't reflect the rarity of PL examples of this date. For reference, MS64 and MS65 examples of this common date receive scores of 1658 and 3057, while there are 4663 and 224 grades, respectively.
    Images of the 1900 double eagle from Grandview Collection are below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1594508
    The surfaces are lightly abraded for the MS62 grade and without any significant detracting marks though the reflective fields tend to accentuate minor bag marks. The devices are frosty giving the coin a degree of cameo contrast. This coin is well struck and has nice detail on both the obverse and reverse.
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

  10. Grandman
    One of two or three 1898 double eagles designed prooflike by NGC.
    With each new acquisition for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post.
    When I first saw this coin offered, I suspected there was an error in the listing. I initially thought it was a prooflike S-mint twenty, because the 1898-S $20 in PL is tied with the 1904-S $20 as the second most frequently encountered prooflike twenty. For each of these dates there are just under 100 prooflike examples designated by NGC. By far the most frequently encountered prooflike double eagle is the Philadelphia minted 1904 with 728 examples designated prooflike (or deep mirror prooflike) out of 214,830 submitted to NGC. Thus prooflike examples of this common date represent 0.34% of all 1904 twenties seen by NGC, which is a remarkably small percentage. For all double eagles graded by NGC, the percentage of prooflike coins is even less at 0.27% (based on July 2013 data).
    Upon inspection of the images of the 1898 $20 NGC AU58 PL, I confirmed it was a Philly example, which has a relatively low mintage of 170,470. The NGC Census showed 3 coins in all grades with 2 in MS62 and 1 in AU58 (this example). Using the Heritage archives, I researched all of the instances of 1898 twenties sold by Heritage.
    The first coin to be designated as PL by NGC was an MS62 example (cert # 302516-012) which was sold by Heritage for $1610 in July 2004, shortly after NGC started designating gold as prooflike. The very same coin in a different holder (cert # 2502877-001), confirmed by tiny rim ding before 11 o'clock, was later sold by Heritage in March 2005 for $2990, and sold again in Aug 2006 for $2990. The two MS62 coins listed in the population reports may be the same coin, leaving the AU58 example as the only other prooflike 1898 double eagle. The AU58 coin was certified between March 2005 and August 2006 based on the Heritage descriptions.
    This 1898 $20 NGC AU58 PL is replacing a very attractive, frosty 1898 $20 NGC MS62 CAC which had remarkably clean fields for the grade. While I really enjoy participating in the NGC Registry, I am surprised that the rarity of prooflike coins like the 1898 $20 AU58 PL is not reflected in the scoring system. By going from the MS62 to the AU58 PL, my overall score dropped by 1070 points. The Registry scores for various 1898 double eagles are listed below. I included scores for the common 1898-S twenty as well for reference.
    1898 $20 NGC MS62 (630 in MS62 with 197 finer): Registry Score 2124
    1898 $20 NGC AU58 PL (1 in AU58 with 1 or 2 finer): Registry Score 1054
    1898-S $20 NGC MS62 (8452 in MS62 with 4896 finer): Registry Score 3677
    1898-S $20 NGC AU58 PL (0 in AU58 with 97 finer): Registry Score 3297
     
    Images of the 1898 double eagle from Grandview Collection are below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1574675
    The surfaces are relatively free of significant hits, though there are minor abrasions in the open fields on the obverse, which likely account for the AU58 grade. If the coin would have had a frosty texture, rather than reflective surfaces, those abrasions would not even be noticeable, and the coin would have graded at least MS62 or MS63. With the reflective fields, every little hit is really amplified. This coin is well struck and has nice detail on both the obverse and reverse. The coin has not been submitted to CAC.
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

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  11. Grandman
    1896 $20 NGC MS62+ PL CAC. NGC has designated only 17 1896 double eagles as prooflike. This coin is the second finest graded, and the only 1896 approved by CAC.
    With each new acquisition for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post. Additional images of the coin and holder will also be provided in the journal. I may even post about interesting coins that have been in the collection for many years.
    Type 3 double eagles were produced over a long span of years from 1877 until 1907, and were minted in Philadelphia, San Francisco, Carson City, New Orleans and Denver in various years. The primary differences between Type 3 and Type 2 double eagles is that the denomination on the reverse reads TWENTY DOLLARS, and on the obverse, Liberty's portrait was shifted forward for better centering and there is more detail in the hair. As with all Double Eagles, this coin contains nearly an ounce of pure gold (0.9675 ounce to be precise).
    The 1896 $20 in the Grandview collection was graded by NGC as MS62+ PL, and is among 17 examples in all grades designated as prooflike by NGC (April 2013). There are 7 PL double eagles in MS62 grades, with this coin being the only one graded MS62+. There is a single coin finer at MS63. This is the lone 1896 $20 with the PL designation to be approved by CAC.
    The surfaces on this MS62+ coin are relatively free from abrasions and hits, though even the smallest abrasions are amplified by the reflective fields. There are no distracting marks or deep gouges that plaque many double eagles due to their large size and the softness of the metal. This coin is well struck with excellent detail in the hair, coronet and stars on the obverse and wings and shield elements on the reverse.
    Grandview Collection
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968
    Images of the 1896 double eagle from Grandview Collection are linked below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1560848
     
    Coin shown in the NGC Holder:

  12. Grandman
    Few Finer 1882-S Double Eagles Available
    With each new acquisition for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post. Additional images of the coin and holder will also be provided in the journal. I may even post about interesting coins that have been in the collection for many years.
    Type 3 double eagles were produced over a long span of years from 1877 until 1907, and were minted in Philadelphia, San Francisco, Carson City, New Orleans and Denver in various years. The primary differences between Type 3 and Type 2 double eagles is that the denomination on the reverse reads TWENTY DOLLARS, and on the obverse, Liberty's portrait was shifted forward for better centering and there is more detail in the hair. As with all Double Eagles, this coin contains nearly an ounce of pure gold (0.9675 ounce to be precise).
    The quantity of Type 3 double eagles produced far exceeded that of Type 1 and 2 twenties, and the number of high grade examples available to collectors today dwarfs the previous types, however, most of these high grade type 3 are dated after 1890. Early Type 3 double eagles minted in San Francisco are often considered to be among the common dates in the series, but actually nice mint state examples are scare. In fact, David Akers in his groundbreaking analysis of double eagles stated "..the 1879-S, 1880-S, 1881-S and 1882-S are all very underrated in uncirculated condition." Recently, the sale prices for eye appealing mint state early S-mint examples have been increasing. The final auction price of the 1882-S $20 in the Grandview collection was substantially higher than previous prices realized.
    The 1882-S $20 in the Grandview collection was graded by PCGS as MS62, and is among 326 examples in 62 and just 34 finer at PCGS (14 have been graded finer at NGC). CAC has approved only 11 coins in all grades with 7 coins in 62 and none finer. This coin has original surfaces with frosty orange-gold luster and minimal marks for the grade. Unlike most early S-mint Type 3 twenties which are not fully struck and show weakness in the hair and lines on the shield, this example shows nice detail on both the obverse and reverse. Most mint state 1882-S $20s have significant and detracting hits and marks resulting in poor eye appeal, even at the MS62 level. The Grandview collection 1882-S $20 has truly original surfaces and is choice for the grade.
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968
    Images of the 1882-S double eagle from Grandview Collection are shown below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1534020

  13. Grandman
    Underappreciated Type 2 Double Eagle
    With each new purchase for the Grandview Collection of Liberty Double Eagles in 2013, I plan to describe the coin and relevant background information with a journal post. Additional images of the coin and holder will also be provided in the journal. I may even post about interesting coins that have been in the collection for many years.
    Type 2 double eagles were minted in Philadelphia and San Francisco from 1866 until 1876. Carson City also minted Type 2 double eagles from 1870 to 1876, though in much smaller quantities compared with the other two mints. The most obvious difference compared with the earlier type is that the reverse has the motto "IN GOD WE TRUST" within the star above the eagle. Unlike Type 1 twenties which are available in mint state grades due to the recovery of coins from several shipwrecks, Type 2 twenties are scarce, especially coins minted prior to 1873. For decades, double eagles have been repatriated to the United States from European vaults, however, the quantity and quality of repatriated Type 2 issues are considerably less than that of Type 3 double eagles.
    Type 2 double eagles minted from 1866-1872 are generally found with severe and deep abrasions caused by contact with other coins due to their large size and soft gold composition. A vast majority of 1872-S twenties are found in the AU grade range. Occasionally, uncirculated examples are available, but in the lowest mint state grades.
    The 1872-S $20 in the Grandview collection was graded by NGC as MS61, and is among 76 examples in 61 and just 9 finer. CAC has approved 7 coins in 61 and 1 finer. I really like this coin because it has only minor abrasions and very appealing yellow gold luster, which is not typical for the grade. The coin is choice for the grade, and has to be among the most eye appealing examples for the date.
    A link to Images of the 1872-S double eagle from Grandview Collection is shown below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1506368
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968

  14. Grandman

    1893-CC $20 NGC AU58

    By Grandman,

    Final Carson City Double Eagle
    With each new purchase for the Grandview Collection in 2013, I plan to describe the coin and relevant background information with a journal post. Additional images of the coin and holder will also be provided in the journal. I may even post about interesting coins that have been in the collection for many years.
    The last year that the Carson City mint produced coins for circulation was 1893, and thus coins from this year are very popular. The mintage of double eagles was only 18,402, however, unlike other dates, examples of mint state CC twenties are available, though virtually all are in grades MS63 and lower. Double eagles from 1893-CC, along with coins minted earlier in the decade, often show evidence of improper mixing of the alloy while preparing the planchets, which appears as orange or reddish spots or blotches on the coin's surfaces. This coloration can be distracting if the spots are dark or concentrated in a small area, however, in some cases the toning can be attractive, eg, the 93-CC, 92-CC and 90-CC examples in the Grandview collection.
    The 1893-CC $20 in the Grandview collection displays lustrous yellow gold intermixed with subtle reddish coloration especially around the periphery. The surfaces have very few abrasions for the grade with the only noticeable marks on the chin.
    This coin was previously in the Richard J. Chouinard Collection which was sold by Heritage Auctions in 2005. Richard Chouinard collected coins for more than 6 decades, starting near the end of the Depression. His collection was quite extensive, purchasing coins from many of the top dealers during the past fifty years including Abe Kosoff, Hans Schulman and Lester Merkin.
    According to the Heritage press release (12/17/04) featuring the Chouinard collection, his greatest numismatic love was the Liberty Head Double Eagle. At first, the intrinsic gold content of the double eagle made this coin particularly appealing to him, but as he grew in the hobby, so did his appreciation for the coin's historic and aesthetic qualities. His collection contained numerous high grade coins from throughout the series, including the finest known 1891 $20 (NGC MS64 PL, ex Dallas Bank Collection) and the low mintage 1885 $20 (MS62 NGC). While these were the highlights and most valuable coins in the collection, he had many double eagles that were exceptional for the grade with excellent eye appeal. During the 2005 auctions featuring the Chouinard collection, many records were set for highest price realized within a grade. The two AU58 1893-CC twenties in the collection both realized $4,887.50, which was much higher than previous AU58 examples, and approximately the price level that MS61 examples were realizing at the time.
    The 1877-S $20 in the Grandview collection was also from the Richard J. Chouinard Collection.
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=106968
    A link to images of the 1893-CC double eagle from Grandview Collection are shown below.
    http://coins.www.collectors-society.com/WCM/CoinView.aspx?PeopleSetCoinID=1486322