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All Posts Tagged With: "Park Ave Numismatics"

Astonishing 1907 Denver Mint Double Eagle ($20 gold coin) Sells for More Than a Half Million Dollars

by Greg Reynolds for CoinLink

I. The Sale of this 1907-D $20 Gold Coin

During the course of the January 2010 FUN Convention in Orlando, arrangements were finalized for the sale of a 1907-Denver Mint Double Eagle that is possibly unique in Proof format. It is NGC certified as “Proof-62” with a “Farouk” pedigree noted. It is thus indicated that it was formerly in the epic collection of King Farouk.

In November 2009, Carlos Cabrera, Executive Vice President of Park Avenue Numismatics, acquired it from a collector. This coin became the star of the FUN bourse floor. Cabrera then finalized the sale and handed it to a buyer of rare and important coins. Cabrera reports that the price “was well above a half million dollars.”

There is no evidence of another specially struck 1907-D Double Eagle ($20 gold) existing. It has been suggested that Proof 1906-D Double Eagles exist. I have seen the 1906-D that the PCGS has certified as “Specimen-66.” While that 1906-D Double Eagle is a wonderful coin with a very distinctive appearance, I find that this 1907-D Double Eagle fulfills the criteria for a Proof and that 1906-D does not. (more…)