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Incredibly Rare 1867 Eagle, PR65 Cameo
Only One Certified Finer

1867 $10 PR65 Cameo NGC. Although a proof mintage of 50 pieces was recorded for the 1867 eagles, the issue is extremely rare. Most examples of the issue, when found, come with nicely contrasted Cameo surfaces. The only non-Cameo pieces we know of are two impaired proof at PCGS, one PR53 and one PR55. NGC has also certified one Ultra Cameo example in PR64. The remainder of certified examples, which we believe to be most of the few survivors available publicly today, are Cameo specimens. Those number four, all at NGC, two in PR64 Cameo, the present PR65 Cameo, and one PR66 Cameo. The total certified pieces thus number seven in all.
Garrett and Guth provide further context to the data above:

"Despite a higher mintage for this year, the 1867 is an exceedingly rare date in Proof condition. It is at least as rare as any other date from this decade and may, in fact, be the rarest. Auction appearances are very infrequent and the sale of an NGC PF-66 cameo set a record price of $92,000 in early 2005, indicating the intense demand for high-quality Proofs. None have been certified above PF-66, and only one coin has earned that grade. All known 1867 Proof eagles have strong to exceptional cameo contrast, with frosty devices surrounded by orange-peel surfaces. The Smithsonian has a nice example that grades cameo PF-65."

The above was published in 2006, and as far as we can determine, none of the data have changed in the six years intervening. The description, too, is completely accurate for this piece. Bold, deep reddish-orange patina creates instant eye appeal in the eye of the beholder, with strong mint frost and thoroughgoing field reflectivity on each side. The strike is full or virtually so, and there are absolutely no mentionable distractions. An incredibly nice -- and incredibly rare -- proof coin from the Reconstruction era.(Registry values: P5) (NGC ID# 3YBM, PCGS# 88807)

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Auction Dates
January, 2012
Internet/Mail/Phone Bidders: 5
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