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Lot
5223

1878 $2 1/2 PR65 Deep Cameo PCGS....

2012 April 18-22 US Coins & Platinum Night CSNS Signature Auction- Schaumburg #1169

 
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Auction Ended On: Apr 19, 2012
Item Activity: 6 Internet/mail/phone bidders
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Location: Renaissance Schaumburg Convention Center Hotel
1551 North Thoreau Drive
Schaumburg, IL 60173

Description:
Blindingly Reflective 1878 Quarter Eagle
PR65 Deep Cameo, Finest Certified
1878 $2 1/2 PR65 Deep Cameo PCGS. The recorded proof mintage for the 1878 quarter eagle was a tiny 20 coins, making it among the lowest-mintage proof gold coins of the post-1858 era (and tied with the proof 1877 and 1878 three dollar gold pieces). Garrett and Guth commented of the issue several years ago:

"The Proof 1878 Liberty Head quarter eagle is another favorite date of the series, with just about 10 examples known today. Two examples are in the museum collections of the Smithsonian and the ANS. The chance to purchase this date in Proof rarely occurs. The last examples offered at auction were from the collections of Byron Reed, John Jay Pittman, and Harry W. Bass. The Pittman coin sold for $29,700 in 1998. Pittman purchased the coin from New Netherlands in 1948 for $55. Pittman was famous for purchasing less-famous, but very rare, coins when others did not appreciate them."


More recently, we offered a PR64 Deep Cameo PCGS example in our FUN Signature (Heritage, 1/2005), lot 30413, a deeply mirrored piece that brought $21,850. The current certified populations stand at seven coins/submissions between NGC and PCGS combined: one each in PR64, PR64 Deep Cameo, and the present PR65 Deep Cameo at PCGS; and one each in PR63 Cameo, PR64 Cameo, PR65, and PR65 Cameo at NGC.
The present piece is thus tied for numerically finest certified, and one of only two Deep Cameos graded. And this is a no-questions, amazingly contrasted piece, a coin that would be a candidate for a deeper contrast level if one were known. The strike is needle-sharp over blindingly reflective orange-gold surfaces. Watch the bidder cards fly on this piece.(Registry values: P6) (NGC ID# 287Z, PCGS# 97904)

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