1888 Proof Double Eagle Sold for $170K During $12.4 Million Heritage Summer FUN Coins Auction

A rare 1888 Proof Double Eagle led Heritage Auctions’ Summer FUN U.S. Coins Signature Auction to more than $12.4 million.

Heritage said the 1888 Double Eagle, graded PR64 Deep Cameo by PCGS, sold for $170,800 during the July 16-18 auction. The result topped an offering of more than 1,400 lots and set a new auction record for an 1888 Double Eagle in the PR64 Deep Cameo grade.

The coin came from a proof mintage of either 102 or 105 pieces, with Heritage estimating that only 20 to 25 survive in all grades. Heritage described the coin as having orange-gold mirrored fields and frosted devices, with smoother fields than some other 1888 proofs that show an “orange-peel” texture.

Deep Cameo examples are especially difficult to find. Heritage said the coin is one of just four carrying the PR64 Deep Cameo grade.

Greg Rohan, President of Heritage Auctions, called the 1888 Proof Double Eagle the kind of coin advanced collectors hope to find, citing its rarity, preservation and visual strength. He said the result reflected continuing demand for elite proof gold.

The auction’s second-highest result came from an 1861-S Paquet Double Eagle, graded AU55 by NGC, which sold for $128,100. The coin came from The Fudd Collection and represents one of the surviving examples of Anthony C. Paquet’s short-lived double eagle reverse design. Heritage said 19,250 Paquet-design double eagles had already been struck in San Francisco before the Mint’s order to stop production arrived, and about 200 survive today.

Another Fudd Collection highlight was a 1930-S Indian Eagle, graded MS64+ by PCGS with CAC approval, which sold for $112,850. Heritage said that result set an auction record for a 1930-S Indian Eagle in the MS64+ grade. Although 96,000 were struck, Heritage said as many as 95,000 were reportedly melted after 1933.

A 1920-S Indian Eagle, graded MS61 by NGC, sold for $97,600, also setting a record for the grade. The issue is one of the key rarities in the Indian Head eagle series, with much of the original mintage believed to have been melted.

Early U.S. gold also performed strongly. A 1795 Capped Bust Right Half Eagle, Small Eagle, BD-2 variety, graded MS62 by NGC, realized $94,550. Heritage said the BD-2 is one of the rarest 1795 Small Eagle half eagle die marriages, with an estimated 20 to 25 surviving examples.

Several other lots reached $91,500, including an 1855 Wass, Molitor & Co. Twenty Dollar from the S.S. Central America, a 1920-S Saint-Gaudens Double Eagle, a 1907 High Relief Double Eagle and a newly documented 1797 Draped Bust Half Dollar. Heritage said the half dollar set an auction record for the VF20 grade and was not listed in the comprehensive Amato roster.

Two 1870-CC Liberty Eagles from the first year of the Carson City Mint also sold for $91,500 each. Heritage said only about 60 to 75 examples of the 1870-CC eagle are believed to survive in all grades.

The sale showed continued strength for rare U.S. gold, proof issues and early American coins. While the 1888 Proof Double Eagle was the headline lot, the depth of the results helped push the auction total to $12,400,954.