1864 $10 PR63+ Deep Cameo PCGS Secure....

Description

1864 Liberty Eagle, PR63+ Deep Cameo
First Proof Ten Offered in Over Five Years

1864 $10 PR63+ Deep Cameo PCGS Secure. All early gold proof coins are rare issues, and the 1864 proof Liberty eagle is no exception. The recorded mintage of just 50 pieces was actually quite generous in the context of the series, but it is doubtful if more than half that number were actually distributed. PCGS CoinFacts estimates the surviving population at 15-20 examples in all grades, while earlier researchers, like Walter Breen and David Akers favored a smaller estimate of 12-15 specimens, all told. Two coins are included in the National Numismatic Collection at the Smithsonian Institution (from the Mint Cabinet and the Lilly donation), and a third is in the collection of the American Numismatic Society (ex: Brock/Morgan). If frequency of auction appearances is any indication of rarity, the 1864 proof Liberty eagle is a very rare coin, indeed. It has been more than five years since any example of this issue has been publicly offered [see lot 5060 of the Pittsburgh Signature (Heritage, 10/2011) for last appearance]. Heritage Auctions is privileged to present this remarkable specimen, which is part of a spectacular collection of 1864 proof issues assembled by Dale Friend, offered individually in the appropriate sections throughout this sale.

This Plus-graded Select specimen shows all the diagnostics Walter Breen listed in his Proof Encyclopedia. The date is well to the left of center, with the 1 about centered between the bust and border. The date slants down to the right. The left base of 1 is nearly over the left edge of a dentil, and the right base of the 4 is over the right edge of a dentil. The second vertical stripe in the shield is thin at its top, and the third strip is thin at its bottom. The rightmost element in stripe 6 extends upward to the third crossbar. The overall presentation of this coin is most attractive, with sharply detailed, richly frosted design elements that contrast dramatically with the deeply mirrored fields to create a stunning cameo effect. A few minor hairlines and grade-consistent contact marks are evident, but a small planchet flaw near the T in TEN is the best pedigree marker. We expect intense competition from proof gold specialists when this lot is called, as it may be years before another example becomes available. Population: 2 in 63 (1 in 63+) Deep Cameo, 6 finer (11/16).
From The Dale Friend Collection of 1864 Proof Coinage.(Registry values: P5)

Coin Index Numbers: (NGC ID# 28F2, PCGS# 98800, Greysheet# 9611)

Weight: 16.72 grams

Metal: 90% Gold, 10% Copper

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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