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Lot
1848

1875 $2 1/2 PR66 Cameo NGC....

2007 Milwaukee, WI (ANA) Signature Coin Auction #444

 
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Auction Ended On: Aug 9, 2007
Item Activity: 6 Internet/mail/phone bidders
458 page views
Location: Milwaukee, WI
Description:
Rare, Low Mintage 1875 Quarter Eagle, PR66 Cameo
Only 20 Proofs Minted
Tied for Finest Certified
1875 $2 1/2 PR66 Cameo NGC. The 1875 quarter eagle is a high visibility gold coin whose rarity transcends quarter eagle collectors or gold collectors in general. The reason is twofold. First, the business strike mintage was limited to only 400 pieces. Second, the proof output was a mere 20 pieces. In the words of Paul Taglione, this tiny proof mintage makes the proof 1875 "one of the charmed circle of Gold Proofs with original mintages of 20 pieces."
Since 1875 proofs are so rare, this is not an issue where it can be said that a proof can be substituted for a high grade business strike. (As, for instance, is the case with the 1901-P dollar.) Indeed, probably no more than 12-15 individual coins are extant today in all grades. When one adds the numbers certified, the old problem of resubmissions rears its ugly head as more proofs have been certified than were minted!
This piece is obviously among the finest examples known. It is tied as the finest Cameo, but once again, is the second piece this same coin resubmitted? The surfaces are sharply contrasted with thick mint frost over the devices. Pinpoint striking sharpness is seen over the devices, and there are no obvious flaws on either side. While the status of this coin is an unquestioned proof, to underline its diagnostic correctness the flag of the 5 in the date almost touches the bottom of the bust of Liberty. This was a problem years ago before diagnostics were widely known and a few coins were mistakenly cataloged as proofs.(Registry values: P7) (NGC ID# 287W, PCGS# 87901)

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