$295,000.00 USD
The production of proof twenties remained low in 1914--but was higher than the previous year by 12 pieces. Various numismatic authors have commented on the production schedule for proof twenties for 1914. The main point of curiosity is the striking of the coins late in the year, with a secondary interest in the significant number rejected and melted. The first batch, 35 pieces, was not struck until September 28, a point of interest as proofs are normally struck at the first of the year. Of those 35 proofs struck in late September, 10 were melted. On November 4 another 35 proofs were produced, and again 10 were melted. The final batch was struck on December 19--30 pieces--and again 10 coins were rejected and melted. Thus, the net mintage of only 70 proof twenties.
The consistent number of 10 coins rejected and melted is interesting. One can speculate variously what this means. One theory can be linked to a sentence from Roger Burdette's 1905-1908 Renaissance reference: "Results of sandblasting and other techniques often varied from coin to coin and year to year, depending on which assistant did the work and whether procedures were followed carefully." What we know for certain from direct examination of 1914 proof twenties is that the surface texture is noticeably different from previous years. The coins generally have a coarser finish. This may suggest that a different assistant worked on the 1914 coins, thereby explaining the different appearance. It might also explain what appears to be a mandatory rejection of 10 proofs from each striking period. When examined in the Mint, only the finest were accepted and sent out to collectors who ordered them. A single pair of dies was used to strike all the proofs. In his series reference, United States Proof Coins, Volume IV: Gold, John Dannreuther estimates only 35 to 45 examples survive today in all grades.
The surfaces of this magnificent piece do indeed show more granularity than the previous three years. There is evidence of slight imperfections in the sandblasting technique in the right obverse field, seen as a few nearly horizontal, raised flecks in that area. These "flecks" are covered by the sandblasting, so they either predate the application or were a part of it. We also note a darker, reddish-tinted streak in the right obverse field. None of these have any effect on the technical grade of this coin, and close examination of each side fails to reveal any post-striking defects. The coin has a pronounced green-gold hue, nearly khaki-gold as often seen on 1908 proofs. At the PR67 level, this piece represents an opportunity to acquire one of the finest examples known of the 1914. Very Rare
