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1893 $2 1/2 PR67 Ultra Cameo NGC....

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

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Auction Ended On: Aug 9, 2007
Item Activity: 5 Internet/mail/phone bidders
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Location: Milwaukee, WI
Exceptional PR67 Ultra Cameo 1893 Quarter Eagle
1893 $2 1/2 PR67 Ultra Cameo NGC. The 1893 proof quarter eagle continued the tradition of low mintages for both proofs and business strikes. Business strike production remained, for the most part, below the 30,000 mark until the turn of the century. Proof output had always been low, generally in the 25-35 piece range until 1880. Then it streaked all the way up to the 1893 level of 106 pieces. The output of these proof gold coins was so minuscule compared to the production levels of the U.S. mint today, it is truly surprising that as many have survived 100+ years at all, much less in the Superb condition seen here.
Of the 106 proof quarter eagles struck in this year, probably no more than 45-55 pieces are extant today in all grades. At the ultimate (PR67 Ultra Cameo) grade level, only two other pieces have been so graded by the two major services, both by NGC. The only other coin in a comparable grade is a PR67 Cameo, also certified by NGC.
As with all proofs of this date, the 93 in the date is noticeably repunched to the left. This was identified in the Pittman catalog by David Akers as a characteristic of this proof-only die. While the majority of surviving 1893 proof quarter eagles are either Cameo or Deep (Ultra) Cameo, high grade survivors are rare, as indicated above. This piece shows the crinkled, orange-peel effect common to many proof gold coins produced in the 1880s and 1890s. The devices are heavily frosted and yield a strong two-toned effect on each side. The surfaces are essentially defect-free, which makes it difficult to establish a pedigree for this important proof striking. An outstanding opportunity for the collector to acquire a 19th century date of cameo proof gold in the ultimate grade.
From The Carlton Woods Collection.(Registry values: P2) (NGC ID# 288G, PCGS# 97919)

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