Undisturbed field luster and no indication of high point rub equals uncirculated.
There are a lot of tiny scratches. Although there are very few that qualify as distractions by themselves the number of scratches would keep this down to a 62.
There does not look like any wear, so it would definitely be MS-something. I do think this coin looks slightly better than the 1913 one posted, but in terms of marks, I would not think by much from these pictures. I am also thinking MS-62.
Never circulated. Probably used as a bullion coin as a backup to the paper note issue, later part of a bullion sale by Germany. Enough small nicks and scratches to keep it at MS62, but very attractive mint lustre.
Thank you! I am very lucky with this buy. The guys in the german internet community liked it very much as well. It is even better than my 1913 Type and looks less scratchy than most MS 64 examples at PCGS side. I have the impression that this company is not very strict with german gold coins I bought this one from my local coin dealer. He was able to buy 100 20 Mark coins. Most of them were circulated and this was the best out 5 with uniformed Wilhelm II.
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