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Lot
4969

1873 $10 PR65+ Cameo NGC....

2012 February 2-5 US Coins Signature Auction- Long Beach #1167

 
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Auction Ended On: Feb 3, 2012
Item Activity: 12 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:
1873 PR65+ Cameo Ten Dollar
Low Mintage of Proofs and Business Strikes
1873 $10 PR65+ Cameo NGC. Closed 3. All of the 1873 proof eagles were of the Closed 3 variety, an understandable occurrence since the Open 3 coins of various denominations were a correction of the Closed 3 style, which made the coins closely resemble an 1878. Since proof coins were generally struck early in the year, they would all have been of the Closed 3 style.
The mintage of the proof 1873 eagles was recorded as only 25 pieces. But it is not solely the low proof mintage that puts pressure on these pieces: The business strikes were produced in the amount of a meager 800 coins, of which few survive today in high grade. Garrett and Guth write of the 1873 business strikes:

"There are few eagles rarer than the 1873, Close 3 issue. In fact, the mintage of this date was the lowest of any eagle up until that time. When combined with an almost total lack of attention from collectors, this date literally disappeared into circulation."


Due to the low production, only Closed 3 examples are known of the business strikes as well. NGC and PCGS combined currently report 35 submissions of the 1873 business strikes, 19 at NGC and 16 at PCGS. Of those, only a single MS60 PCGS business strike technically achieves the Mint State level.
This PR65+ Cameo proof representative boasts deep, even orange-gold color with strong mint frost over the devices and deeply reflective fields. The strike is not quite full on the obverse hair curls, but is complete elsewhere. The fields on each side show numerous crisscrossing die striations. A loupe reveals a few shallow marks across the face that likely preclude an even finer grade. Census: 1 in 65 Cameo, 1 (the present piece) in 65+ Cameo, none finer with the Cameo designation (1/12).(Registry values: P4) (NGC ID# 28FB, PCGS# 88813)

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