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1877 $2 1/2 PR68 Ultra Cameo NGC. CAC....

2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175

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Auction Ended On: Oct 19, 2012
Item Activity: 8 Internet/mail/phone bidders
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Location: Dallas Convention Center
650 S. Griffin Street
Dallas, TX 75202


Extremely Rare 1877 Quarter Eagle
PR68 Ultra Cameo
Finest We Have Ever Offered
1877 $2 1/2 PR68 Ultra Cameo NGC. CAC. The present high-grade 1877 quarter eagle proof gold coin is one of the most remarkable and important coins in a consignment of prodigious quality overall. The 1877 quarter eagle proof had a notably small mintage figure even in the string of low mintages that characterizes the 1870s, a stingy 20 pieces. And, of course, the incredible PR68 Ultra Cameo NGC grade assigned to this piece would make it a standout -- in any crowd. The CAC green sticker attached to this coin will further increase its desirability to many collectors.
Even the 1877 business strike quarter eagles are hard to come by: The mintage was 1,632 pieces, even though the issue is overshadowed by the fabled 1875 mintage, 400 coins. The NGC population data show six submissions of the 1877 quarter eagle proof in non-Cameo, Cameo, and Ultra Cameo, including one impaired PR55 example. Among the three Ultra Cameo examples, two are in PR67, with the present PR68 the finest and only Ultra Cameo at that service.
This piece is far finer than any certified at PCGS, which has seen five submissions, the finest one PR66 non-Cameo and one PR65 Deep Cameo (8/12). David Akers writes of the proof quarter eagle, simply, that it is quite rare and that "probably no more than half of the original mintage remains in unimpaired condition."
A single glance at this coin confirms the impeccable preservation blatant throughout both sides, with deep "gold on black" contrast evident and a needle-sharp strike on orange-gold surfaces. We also cannot help but notice the similarity of the date logotype to that on the famous Indian cent issue of the same year, with the digits exactly the same style and the last 7 a touch lower than the first. Clearly, both were made by the same hand.
Due to the stunning surface preservation, we find no reliable pedigree markers on this important coin, but specialists in proof gold will recognize it for what it is -- the finest we have ever had the privilege to offer, and the sole finest certified survivor.
From The Nottingham Collection.(Registry values: P5) (NGC ID# 287Y, PCGS# 97903)

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