Proof gold, and in particular that of the largest denomination, the double eagles are considered to be a true highlight of American coinage. Yet, due to their high cost not many people have the opportunity to acquire an example of these wonderful coins. Only a few people have undertaken the challenge of collecting any gold denomination by date in proof format, and even less have actually managed to complete even one series.

Mintages of all proof gold coins struck before 1933 were small, often less than 100 pieces. Of these, a considerable number of specimens were spent and acquired wear in circulation. The pieces that remained in collections since they were bought, and were not cleaned or otherwise mistreated are in the vast minority and are true rarities as such. While the circulation strike of this issue is common enough that high grade examples are known in all grades up to 66 and even is known in 67, the large mintage of those coins plays a very important role. As the proof mintage was only miniscule, the chance that a coin survives in high grade is just the matter of a very slim chance.

The cameo effect, which is abundant on the present coin, is often seen on gold coins of the 19th century. Those of the early 20th century, however, often lack these strong, frosty surfaces due to a different finish of the dies. As a result, Cameo pieces are scarce in all grades, and in gem, such as this coin they are a seldom encountered rarity.

The present coin has a frosty look, so the cameo designation is correctly awarded by PCGS. Bold details, as can be expected for a proof, are seen on both sides. The color is a wonderful orange-yellow gold, which increases the high eye appeal of this coin even more. The fields are clean of any major hairlines or other distractions, and without strong magnification this coin looks even finer than a 65. This is a rare opportunity to acquire one of the finest known, and definitely one of the best looking proof 1904 double eagles.