75 Proofs were struck; fewer than half of these exist.

In the coin market, size matters and in no area is this more apparent than Proof Gold. Gem Proof small gold is great and it has its acolytes but who doesn’t want to own a big, flashy Proof Liberty Head double eagle? Trouble is, a Gem will cost you $150,000+ and a PR60 to PR63, while more affordable, is going to have minimal eye appeal. That’s exactly the reason I love this borderline Gem; a coin with the look of a six figure Gem but with a slightly less hefty price tag.

As a date, Proof 1898 double eagles are generally found in the PR64 to PR66 range and a few really exceptional pieces exist. But this date is much harder to find than the so-called “common” issues from the 1900′s. The coin itself, which is fresh to the market, has excellent contrast and a splendid naked-eye appearance with no mint-made issues or hairlines. There is a tiny contact mark in the left obverse field between stars one and two and another on the reverse above the D in DOLLARS which limit the grade but this coin is truly choice for the grade.

The last PCGS PR64 Deep Cameo example of this date to sell at auction was Heritage 1/05: 2476 which brought $43,125. A PCGS PR65 Cameo example sold for $117,500 as Heritage 4/13: 4595.

I can count on one hand the number of nice PCGS PR64 DCAM Liberty Head double eagles which I have seen or handled over the last five years and I remain enamored by the beauty and relative value that these coins offer.