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Lot
3308

1885 G$1 PR63 Cameo PCGS. With a recorded production of 1,105 pieces, the 1885 gold dollar possesses one of the largest pro...

2007 St. Louis, MO (CSNS) Signature Coin Auction #434

 
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Auction Ended On: May 11, 2007
Item Activity: 4 Internet/mail/phone bidders
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Location: St. Louis, MO
Description:
Splendid 1885 Gold Dollar, PR63 Cameo
1885 G$1 PR63 Cameo PCGS. With a recorded production of 1,105 pieces, the 1885 gold dollar possesses one of the largest proof mintages of all U.S. gold coins. Interestingly, the survivability of this issue is unusually low. For example, the 1882 proof gold dollar has a recorded mintage of 125 pieces, or about ten times less than that of 1885, yet a review of the PCGS Population Report indicates that a total of 53 1882 gold dollars have been graded, compared to 103 pieces dated 1885. We therefore conclude that most of the 1885 proof gold dollars were melted by the Mint due to lack of collector demand, with many other examples falling victim to cleaning and improper handling. To complicate matters, 1885 business strikes often come with prooflike surfaces and in the past have unfortunately been offered as genuine proofs, thereby giving the perception that proofs of this date are more common than is truly the case. The deeply mirrored fields and cameo contrast of this coin make it easily discernible as the genuine article. The fields also have the orange-peel texture common to many gold proofs of this era. Population: 2 in 63 Cameo, 7 finer (4/07).(Registry values: P1) (NGC ID# 25EV, PCGS# 87635)

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