1888 Liberty Head Double Eagle. JD-1, the only known dies. Rarity-6. Proof-61 (PCGS). The 1888 is a rare and underrated issue among Proof Liberty double eagles. Handsome medium olive-gold color evenly blankets both sides of this specimen. The strike is bold with complete definition to all design elements and the devices display a soft satin texture that contrasts with mirrored fields. Pleasing for the assigned grade level, this is a significant find for advanced collectors of classic U.S. Mint Proof gold coinage.<p>As with all Proof Liberty double eagles, the mintage for the 1888 is a poor indicator of the rarity of survivors in todays market. Many examples from the mintage of 105 pieces (John W. Dannreuther, 2018, says 102 pieces) were undoubtedly melted or released into circulation as unsold, and current numismatic scholarship accounts for only 20 to 30 survivors in all grades. Such an estimate places the 1888 on par with the 1883, 1884 and 1887, although it is overshadowed by those better-known, Proof-only issues. In addition, several of the Proof 1888 double eagles extant are impounded in museum collections (including the specimens in the Smithsonian Institution and the American Numismatic Society). Opportunities such as this come along only once in a very long while.</p><p>A particularly interesting survivor of this rare issue, this Fairmont Collection offering has the appearance of a coin that was released into commercial channels. Whether this was done by the Mint to dispose of an unsold Proof or by an early numismatist who no longer valued it as a collectable will forever remain unknown.</p> From the Fairmont Collection-Hendricks Set.
