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5826

1877 $2 1/2 PR67 Ultra Cameo NGC....

2013 January 9-14 US Coin FUN Signature Auction - Orlando #1181

 
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Auction Ended On: Jan 10, 2013
Item Activity: 7 Internet/mail/phone bidders
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Location: Orange County Convention Center
North/South Building
9400 Universal Blvd.
Orlando, FL 32819

Description:

1877 Quarter Eagle, PR67 Ultra Cameo
Rare in Proof or Business Strike Format
1877 $2 1/2 PR67 Ultra Cameo NGC. As one might surmise from the Superb Gem Ultra Cameo grade, this is an absolutely stunning coin, regardless of the date. But coupling the 1877 date with the incredibly high surface quality of this piece moves it into a whole new realm of desirability.
The 1877 gold pieces in proof format, one dollar through double eagle, were each struck in an amount recorded as 20 pieces per. While this is typical for the era of the late 1860s-early 1870s and quite low by any objective measure, the 1877 quarter eagle is also, in the words of Jeff Garrett and Ron Guth, "one of the rarest Proof quarter eagles from the 1870s," with the authors estimating that only 10 to 12 survive. Further, the 1877 saw a low production of circulation strikes, a meager 1,632 pieces, making the date among the lowest-issue business-strike productions in the series -- and doubly popular for that reason.
The current certified populations for the 1877 two and a half show four non-Cameo submissions at PCGS, the finest a single PR66, along with one in PR66 Deep Cameo. At NGC the data show six others, including one lightly circulated PR55 example, one PR61, two in PR67 Ultra Cameo and one in PR68 Ultra Cameo.
The present coin is clearly among the finest survivors, technically and aesthetically. The orange-gold, fully struck surfaces display exceptionally deep field-device contrast even when viewed straight-on, and it takes close examination to discern a faint contact mark on Liberty's chin. Both sides show a moderate orange-peel effect, but there are simply no mentionable factors that detract from the extreme quality and eye appeal present. Census: 2 in 67 Ultra Cameo, 1 finer (11/12).
From The Dr. James Olsen Collection.(Registry values: P5) (NGC ID# 287Y, PCGS# 97903)

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