1901 Double Eagle NGC PR64CAM. A wonderful Cameo survivor from an original mintage of just 96 pieces made for collectors. Near gem quality, and just a little bit away from an Ultra Cameo designation by NGC.

Struck early in the 20th century, this piece was most likely bought by a wealthy collector at the time. Although the minor denominations were also affordable for the average collector, proof gold coins were and are the true “prime” area of American numismatics. All are rare, and have always been in demand in original condition, such as the present piece.

Of this issue, only an estimated 35 to 40 remain in all grades, many of them impaired in one way or the other. Completely original pieces, such as this coin are very scarce and seldom offered. The reason for this low number of survivors is unknown, but perhaps not all of the reported pieces were minted and many were later melted. Circulation, as some of these pieces were spent and served time as a general circulation issue, obtaining wear and later being melted in the 1930’s.

Early in the 20th century production methods at the Mint changed slowly. As a result, proofs from this and the next years are very hard to find with any considerable amount of Cameo contrast. Only a small percentage of the surviving pieces show any cameo contrast, and pieces which look as fine as the present coin are rare. This is confirmed by the strong contrast and reflectivity in the fields.

This is a wonderful near gem (in fact, just a few tiny hairlines short from gem) proof double eagle. Sharply struck, the coin is totally original with wonderful lemon-yellow color seen on both sides. No distractions are visible to the naked eye, making this a wonderful piece to any collector seeking one high quality proof double eagle. This is also a wonderful coin for those putting together a full 20th century Liberty double eagle proof set.