1853 U.S. Assay Office of Gold. $20 gold. 900 Thous.on ribbon. K-18. Rarity-8 as Proof-63. Deeply mirrored and highly reflective Proof fields.

A magnificent specimen of a general issue which is often seen in high grades such as EF, AU, or, occasionally, Mint State, but for which a splendid Proof represents a notible rarity. In general, territorial issues are known for displaying tell-tale signs of somewhat crude minting techniques, but the striking quality of this proof is easily as nice as would be expected of a federal Proof gold issue. Indeed, perhaps this piece was struck at Philadelphia, where the dies were prepared for shipment to California. It is known that a few Proofs were made, and generations ago some pieces surfaced in the Augustus A. Humbert estate and Zabriskie Collection offerings.

The present piece is sharply struck with bold design details on both sides, the devises showing some satiny frosting. A distinct lint mark is noted just above the C in CALIFORNIA, as are some raised die lines in and around the devices where the finishing of the die was not properly executed. A few light hairlines are noted on the fields. A truly superlative example of this popular issue, clearly intended for presentation or some other high calling, perhaps a piece that could be traced to Humbert or Zabriskie. A rarity of the highest order. The notes of the Bass Foundation indicate that this is the only known specimen in Proof format, though Walter Breen in his Encyclopedia, list two different examples. This being the first, and the second being impounded in the Smithsonian Institute.

The pedigree of this coin is legendary. It first appeared in the Bache sale in March of 1865 (conducted by W. Elliott Woodward), and then graced such memorable collections as the Seavey, Parmelee, Newcomer, Raymond, Colonel Green, Bell, King Farouk, and Harry Bass. It now belongs to a private collector in the Mid-West.