The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
After the enormous double eagle productions in 1904 at both Philadelphia and San Francisco totaling 11.4 million coins, the business strike production of the 1905-P issue was a meager 58,819 pieces. Moreover, the few gold collectors of that era preferred proof coins to Mint State business strikes, most business strikes entered circulation. Both of those factors actually contribute today to the rarity of the proof issue: Few high-grade Mint State business strikes were saved to begin with, and, despite the recorded mintage of 92 proofs, some were undoubtedly spent during the next two or three decades when economic hard times hit. Garrett and Guth (2006) comment concerning the 1905 proofs: 'Based on population data and auction records, it can be estimated that only 30 to 40 coins of the date have survived. Many undoubtedly entered circulation, as there are several impaired examples known. No gem coins of the date have been sold at auction in recent years.'
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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