1905 $20 (1905 Double Eagle) NGC PF53. With an original mintage of 92, the 1905 Proof Double Eagle is rare in all conditions. It is also desirable because of the low mintage of regular circulation strikes for the year. With just a trace of wear on the highest points, the coin appears bold enough to have graded several points higher. The surfaces are original, clean, and, for the grade, free of distractions worthy of individual mention. Considerable mint luster is seen within the devices.

The double eagle of 1849-1907 was designed by James Barton Longacre. For all dates the total proof mintage was 2,426 coins. Therefore, all proof double eagles of this type are rare, and some are exceedingly rare.

With the Gold Rush of 1849 in California, there was a large increase in the amount of gold coming into the Mint for coinage. Consequently, a bill was introduced in the House to coin $20.00 denominations called double eagles. Mint Director Robert Patterson tried to use this new coinage bill as an excuse to terminate James Longacre as the Engraver because of political and other differences. The Chief Coiner, Franklin Peale, with Patterson’s approval and help, was making medals on the side. Patterson was afraid that Longacre would interfere with Peale’s profitable business. Therefore, Peale would not cooperate with Longacre; however, Longacre prevailed and was able to retain his position and complete the dies for the double eagles.
Longacre designed the coin, which was substantially different from the previous capped Liberty eagle. It was similar to Gobrecht’s Large Cent Braided Hair Coronets of 1839 to 1857 in that instead of the cap, Liberty now wore coronet with her hair tied in the back. The reverse design depicted a modified heraldic eagle with a circle of stars above its head which are in turn surrounded by rays. The motto “E Pluribus Unum” is on each side of the eagle on matching ribbons. This design remained in use for almost sixty years.

Since recent demand has increased for Liberty Head proof double eagles, the miniscule supply has been unable to keep up with it. The combined population reports for all dates show 1515 proof coins in all grades certified by both of the major grading services, and this number does not account for resubmissions. In its population report, NGC shows 1 1905 double eagle in PF53 with 14 better.