1901 $20 Liberty Head $20 PCGS PR65 Cameo
This is a deeply mirrored Choice proof with excellent cameo contrast. Both the fields and devices are brilliant yellow with a hint of green. A few faint hairlines keep this from Gem quality. The Cameo contrast is not as deep as others in this offering, and in fact, neither PCGS or NGC have graded the first example with deep or ultra cameo contrast. These early 20th century coins just did not have the same degree of frost imparted by the dies. About this time, mint workmen actually took steps to reduce the contrast, considering the frosted cameo appearance on proof coins to be less desirable.