New Purchase: 1904 NGC MS-62 Prooflike (PL) $20 Gold Liberty Double Eagle -- Invite Your Comments

Stuart

I'm delighted to share this new purchase of a 1904 NGC MS-62 Prooflike (PL) $20 Gold Liberty Double Eagle with my fellow forum members. I have wanted a certified Prooflike $20 Liberty Double Eagle for quite a while -- which makes finding this coin even more gratifying and fun!!

This is one of those coin types for which NGC assigns the Prooflike designation for deserving coins, but for which PGS does not.

Comments are welcome from all who would like to post their thoughts, especially our resident $20 Gold Liberty Double Eagle specialists.

1904 NGC MS-62 Prooflike (PL) $20 Gold Liberty Double Eagle

Dennis88

Nice coin, although I have to admit that I wouldn't buy such a coin myself. I'm not a big fan of PL survaces on lower grade MS coins, because (especially in the pictures) the hits present are much more visible then on higher grade coins. But that something you have to choose when buying these coins, and I have to admit that you made an excellent (value) combination of those aspects....

Dennis

Stuart

Thanks Dennis. Since I love Prooflike coins, and $20 Gold Liberty Double Eagles are very expensive as Proofs, I thought that this coin was a great looking reasonably priced light cameo Prooflike coin for me.

mirabela

I, for one, love prooflike $20 Libs. While in lower unc & AU grades they tend to look like hell in pictures, in hand they can be a whole different story. I am still kicking myself over one I had the chance to purchase in an older (without notation) PCGS 62 slab a few years ago. $675 seemed like a lot then ...

Nice coin, Stuart. I bet it is very flashy and enjoyable in person.

sweetwilliet

You learn something every day. I did not know NGC designated pl status on deserving $20 double eagles. I have only seen them on morgans, of course, and I saw a peace dollar denoted pl by ANACS.

Stuart

An interesting statistic is that even though the 1904 $20 Gold Liberty is by far the most common date coin in the series, only 364 coins were graded Prooflike by NGC, out of a total 162,333 1904's graded.

That's just a mere 0.224% or 2.24 out of each 1000 coins!!

TomB

One thing you should keep in mind about the statistics you quote is that NGC might not have awarded the PL designation for many years and, if so, then tens of thousands of coins may have passed through their system without being eligible for this designation on the holder.

mozin

NGC has given the PL designation to over 800 Double Eagles, almost half to 1904, and about half of those were MS62PL. The prices for the 1904 PLs have followed closely with bullion prices, with MS62PLs G$20s going for about 140% of bullion.

I agree pictures make PL low MS grade coins look pretty marked up.

MrEureka

One thing you should keep in mind about the statistics you quote is that NGC might not have awarded the PL designation for many years and, if so, then tens of thousands of coins may have passed through their system without being eligible for this designation on the holder.

Although that is certainly true, far less than 1% of the 1904's in existence are PL, regardless of what the slabs say.

BloodMan

I like the coin. Under the lighting conditions used to capture your image, every minor scratch on the PL surface becomes amplified. PL 1904’s are generally significantly cheaper than other dates, as might be expected given the number of surviving coins.

On very rare occasions, NGC will even designate “DPL” (Deep Prooflike) to some Double Eagles, however, this designation is even rare for 1904’s.

dizzlecc

Neat, to see a prooflike gold piece.

When you receive the coin, you will have to provide an update to describe the depth of mirrors and provide one of your pics.

I'm curious to see if the mirror depth is the same as a morgan or if the standards are different for gold.

mhammerman

Nice hair!