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Lot
3102

1887 G$1 PR68 Cameo NGC. Type Three. The 1887 gold dollar had a high mintage of 1,043 proofs. However, a great many were ap...

2007 January Orlando, FL (FUN) Signature Coin Auction #422

 
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Auction Ended On: Jan 4, 2007
Item Activity: 5 Internet/mail/phone bidders
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Location: Orlando, FL
Description:
Highest-Graded 1887 Proof Gold Dollar PR68 Cameo NGC
1887 G$1 PR68 Cameo NGC. Type Three. The 1887 gold dollar had a high mintage of 1,043 proofs. However, a great many were apparently mishandled before they even left the Mint, and high grade examples are surprisingly scarce. This date is also an absolute scarcity, relative to its mintage, with no more than 175 pieces believed to exist today in all grades. This is currently the highest-graded example of the issue, and the sole specimen to possess the PR68 grade from either of the two major certification services. It is also certain to be one of the most attractive. Frosty in finish with pinpoint striking definition, the devices appear to float atop watery reflectivity in the fields. A pair of tiny planchet flakes are noted on Liberty's chin and just to the left of her earlobe, but these may be too faint to see without the aid of a magnifier. Original honey-gold color envelops both sides. Distractions are essentially nonexistent, although pedigree concerns compel us to mention a pair of wispy lintmarks (as struck) on the reverse. One is located on the field area directly above the R in DOLLAR; another rests just below 12 o'clock on the upper reverse periphery, and is connected to the upper right ear of corn at the top of the wreath.
"Less than a year after the 'Type II' or Narrow Head dollars went into circulation, all concerned knew that the design must be changed. Specimens were already coming back to the Mint for recoinage, some with dates hardly legible." (Walter Breen) The Type III gold dollar was soon developed by James Longacre, and the modified design was adopted January 1, 1856, remaining unchanged through the end of the denomination in 1889.
From The Dr. Robert J. Loewinger Collection.(Registry values: P1) (NGC ID# 25EX, PCGS# 87637)

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