1882 $10 PR66 Cameo NGC. CAC....

Description

Very Rare 1882 Eagle, PR66 Cameo

1882 $10 PR66 Cameo NGC. CAC. Slowly but surely, the annual mintages of proof gold eagles crept upward during the 1860s and 1870s, to a point in the 1880s where a uniform 40 gold proof sets were being produced annually. But 19th century Mint reports on proof coinage are notoriously unreliable, not so much for the original figures as when remeltings of unknown quantities and date of coins are involved. If buyers were unavailable for all of a year's coinage (or that of prior years, in some cases), the proofs could be simply melted or otherwise disposed of, with no record ever produced of the reduction in net distribution.
Despite the recorded mintage of 40 coins for the 1882 proof eagle, Garrett and Guth posit that "previous estimates of 12 to 15 examples are probably accurate, if not a trifle overstated." The authors here likely refer to David Akers' previous estimate using the same range, dating from his 1980 eagles reference where he says that "proofs of 1882 are very rare." NGC has certified 10 pieces of the 1882 proof eagle in all grades, ranging from an impaired PR58 Cameo to this single PR66 Cameo, numerically tied with a single PR66 Ultra Cameo. PCGS has graded only five examples, with two PR64 the finest (11/09). This gives a total of 15 coins, less a near-certain number of duplicates and three examples at the Smithsonian and ANS, so the number of pieces available in the marketplace could be only eight or 10 different coins.
This largely pristine specimen has medium golden-orange color and abundant eye appeal, including the expected bold strike and considerable field-device contrast. For pedigree purposes we mention a tiny planchet flaw on Liberty's chin and another between stars 5 and 6. Census: 1 in 66 Cameo, 0 finer (11/09).(Registry values: P3)

Coin Index Numbers: (NGC ID# 28FL, PCGS# 88822, GSID# 9664)

Metal: 90% Gold, 10% Copper
Weight: 16.72 grams
AGW: 0.53oz
Melt Value: $599.96
Gold Spot: $1,132/oz (01-07-2010)

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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