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.
Aside from its obvious rarity as a proof double eagle, the date is a rarity in all grades. In addition to the 52 proofs that were coined during the year, the Philadelphia Mint produced a miniscule quantity of circulation strikes, just 1,390 pieces. The advanced collector will recognize that, for this date, proof examples are actually more plentiful than Mint State pieces. At one time in numismatics, not long after these coins were made and well into the 20th century, collectors did not differentiate between Mint State and proof examples, and a lovely Gem proof such as this piece would suffice to represent the date. Today, of course, that has changed, and substantial demand exists for both formats, which explains the importance and desirability of this piece. Only about three or four Mint State examples exist today, along with about 25 proof pieces.
Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.
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