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4905

1904 $10 PR65+ Cameo NGC....

2011 July Orlando Summer FUN Signature US Coin Auction #1157

 
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Auction Ended On: Jul 8, 2011
Item Activity: 8 Internet/mail/phone bidders
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Location: Orange County Convention Center
9800 International Drive
Orlando, FL 32819
Description:

PR65+ Cameo 1904 Ten Dollar
Radiant Devices Contrast With Glassy Fields
1904 $10 PR65+ Cameo NGC. A virtually pristine representative of this rare proof date. A total of 108 proofs were issued, but a number were spent during hard times, or by heirs, prior to 1940. While such an action seems the height of folly today, it must be remembered that ten dollars went a long way during the Great Depression, and proofs carried little premium over face at the time, as only a handful of collectors had the wealth to pursue examples. In his 1988 Encyclopedia, Walter Breen estimated there are 35 to 40 survivors. Some of those are impaired, since PCGS has certified 11 pieces in grades between PR50 and PR58.
The present high-grade Gem is fully impressed and displays greater design detail on the hair above the ear than can be seen on any business strike of the series. The darkly mirrored fields are undisturbed by hairlines and show only a few minute strike-throughs, one of which, beneath the E in WE, is mentioned solely to provide an identifier for any future auction appearances. The legends, stars, and major devices exhibit consistent frost, and the cameo contrast is considerable.
No proof 1904 tens have been certified as Ultra Cameo or Deep Cameo by either major service. In addition, none have been have certified without a Cameo designation in grades above PR64, and PCGS has graded no Cameo pieces above PR64. The present specimen is one of two examples that have received a Star designation and is the only piece with both a Star and a Plus notation. NGC has certified just two pieces higher, one as PR66, and the other as PR66 (6/11). Since it may be many years before those coins emerge again at auction, the importance of the present opportunity, to obtain a high-end Gem proof, cannot be overstated.(Registry values: P1) (NGC ID# 28GB, PCGS# 88844)

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