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Lot
30242

1822 10C PR66 Cameo PCGS. CAC. JR-1, R.3, R.8 as a Proof....

2014 June 23 The Eugene H. Gardner Collection of US Coins Signature Auction - New York #1213

 
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Auction Ended On: Jun 23, 2014
Item Activity: 13 Internet/mail/phone bidders
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Location: Ukrainian Institute of America at The Fletcher-Sinclair Mansion
2 East 79th Street
New York, NY 10075

Description:

1822 Dime, Stunning PR66 Cameo
JR-1, The F.C.C. Boyd-James A. Stack Example
Likely Only Two Known
1822 10C PR66 Cameo PCGS. CAC. JR-1, R.3, R.8 as a Proof. Ex: James Stack. Stunning surfaces on this no-questions proof show iridescent gold, blue, and green on the obverse encircling the portrait of Liberty, while the reverse offers lighter golden-gray in the centers with a ring of blue at the rims. The strike is sharper on the left-side stars than those on the right. The preservation is impeccable throughout.

Variety: JR-1, R.3 as a circulation strike, but R.8 (two or three known) as a proof. Sole dies known for the year. The upper serif on the 1 in the denomination is defective, as seen on the circulation strikes. The existence of a single die pair known for the year reinforces the belief that much of the 1822 mintage was actually dated 1821 -- a year for which 10 die marriages are known.

Population Data (5/14): Among Cameo coins, PCGS shows only this PR66 Cameo example. Among non-Cameo coins, there are two in PR66 and one in PR63. Duplications are almost a certainty, as we find auction records only for the PR63 and believe that only two different examples likely survive. NGC shows no proof 1822 dimes.

Heritage Commentary: We can find auction records for only this piece and one other, the PR63 PCGS example which traded in a Superior sale (1/1990), lot 2432, for a strong (especially for the grade) $28,600 at the time. This Premium Gem Cameo 1822 proof dime is likely one of only two surviving, and it is by far the finest. The 1822 dimes saw a reported mintage of 100,000 pieces, compared to nearly 1.2 million for the 1821 issue and 440,000 coins for the 1823. Along with the smaller number, it appears, given the scarcity of 1822 dimes overall, that many of the dimes struck for circulation in 1822 actually bore the date 1821, an extremely common Mint practice of the day. The authors of the "dime book" proposed that "perhaps three proofs exist." Walter Breen also listed three proof 1822 dimes in his Proof Encyclopedia of 1989, despite having seen only one other. It is always possible that another 1822 proof dime could surface some day, but as years go by, the possibility recedes further.

Even in a collection of the first water such as the Gardner Collection, this piece is simply a miraculous coin, a coin that clearly has no equal.

Provenance: World's Greatest Collection (Numismatic Gallery, 5/1945), lot 467; James A. Stack Collection (Stack's, 1/1990), lot 28; Benson Collection, Part III (Goldberg, 2/2003), lot 1834, as PR66 PCGS, provisionally offered individually and as part of an (assembled) three-piece 1822 silver proof set including an 1822 quarter (B-1, PR65 PCGS; lot 1835) and 1822 half dollar (O-103, PR65 PCGS; lot 1836), but none of the lots sold, either individually or together; purchased from Joseph O'Connor (7/2007). (Variety PCGS# 84540, Base PCGS# 4540)

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