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Lot
5090

1831 10C PR66 PCGS. JR-2, R.3 as a business strike, R.7 as a proof....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 3 Internet/mail/phone bidders Number of Bidders
1,135 page views
Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:
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1831 Capped Bust Dime, PR66
Rare Early Proof Issue, JR-2
None Certified Finer at PCGS
1831 10C PR66 PCGS. JR-2, R.3 as a business strike, R.7 as a proof. Like all pre-1858 proof issues, the 1831 proof Capped Bust dime is a classic rarity, with an unknown, but certainly small, mintage. There are six known die varieties of 1831 dimes, and proof specimens have been reported for both the JR-2 and JR-4 die marriages. The coin offered here represents the JR-2 variety, with three vertical lines (pales) in the shield stripes (gules), and star 7 close to the cap.
The rarity of the 1831 JR-2 proof dime has been estimated by several experts over the years, but no definitive roster has been attempted. In Early United States Dimes, the authors mention at least three JR-2 proofs, with an unspecified number of proof JR-4 specimens. In the John Jay Pittman catalog, David Akers estimated 6-8 proofs of the JR-2 variety remain extant, but did not address the number of JR-4 examples. PCGS estimates a surviving population of 15-20 proof 1831 dimes, but does not distinguish between varieties. A study of auction data over the past two decades leads us to believe there are probably only 8-10 examples of the JR-2 proofs still in existence, with a smaller number of JR-4 specimens.
The reverse die of this coin is noticeably rotated in a clockwise direction, a feature that is known on at least one other JR-2 proof. It is possible that all JR-2 proof reverses are rotated, which could be an important diagnostic in distinguishing them from prooflike business strikes. More research is needed on this topic.
The present coin is a delightful Premium Gem, with sharply detailed design elements and iridescent blue, orange, and champagne-gold toning. The pristine fields are deeply reflective, under the patina. This coin possesses extraordinary eye appeal to complement its high technical grade and absolute rarity. The discerning collector will not let this opportunity pass. Population: 4 in 66, 0 finer (6/12).
Ex: Fine Coins and Banknotes (Christie's, 9/1991), lot 360; Craig Morgan Collection (Bowers and Merena, 11/1998), lot 1386. (NGC ID# 27D3, PCGS# 4553)

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