1905 $20Liberty Head $20 PCGS PR63 Deep Cameo

A mintage of 92 proofs for the 1905 Liberty Head double eagle resembles those of the 1904 and 1906 proof twenties (98 and 94 coins, respectively), but of the three, the 1905 is by far the rarest. John Dannreuther recently pegged the survivorship between 50 and 65 examples, and PCGS estimates only 40 to 45 pieces are extant. Garrett and Guth's estimate of as few as 30 to 40 coins is more in line with the frequency of auction appearances, though it could be that a number of examples are tightly held and simply do not trade hands.