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Lot
4467

1887 $2 1/2 PR65 Cameo PCGS. CAC....

2013 April 24 - 28 CSNS US Coin Signature Auction - Chicago #1184

 
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Auction Ended On: Apr 25, 2013
Item Activity: 10 Internet/mail/phone bidders
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Location: Renaissance Schaumburg Convention Center Hotel
1551 North Thoreau Drive
Schaumburg, IL 60173

Description:

Gem Cameo Proof 1887 Quarter Eagle
Best Cameo Example Known to PCGS
1887 $2 1/2 PR65 Cameo PCGS. CAC. The mintage figure stands out as one goes down the numbers in parentheses: 122. The 1887 quarter eagle was the first post-Civil War issue to have a proof mintage in the triple digits, though it is no more available in the aggregate than the follow-up issue of 1888 with its output of 97 specimens, suggesting that a number of the 1887 quarter eagle proofs were melted before the after-Mint forces of attrition had their turn. Garrett and Guth claim a current population of "probably only 40 to 50 coins remaining."

PCGS certifies far fewer 19th century proof coins, especially gold coins, as Cameo than does NGC: 18 of 30 proof 1887 quarter eagles graded by PCGS did not receive a Cameo designation, whereas only one of 23 examples NGC did not receive any level of Cameo designation. While NGC has certified five examples of the proof 1887 quarter eagle as PR65 Cameo with three finer in the contrast category, as a Cameo at PCGS, this coin is a "one-and-none," alone and unsurpassed in its category (3/13). The single finest representative PCGS has graded is PR66 Deep Cameo.

Reflectivity is elegant and prominent on this Gem Cameo specimen with a "black-and-yellow" appearance at certain angles to the light. Just a hint of orange-peel texture touches the fields, while the devices are exquisitely frosted. While this coin is "only" a Cameo, surely it made a grader or two think twice about the possibility of a Deep Cameo designation. The plastic case has picked up a few wispy scratches, including one across the eagle's neck, that should not be interpreted as damage to the coin.(Registry values: P3) (NGC ID# 288A, PCGS# 87913)

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