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Incredible 1895 Quarter Eagle, PR67 Ultra Cameo

1895 $2 1/2 PR67 Ultra Cameo NGC. The 1895 was a low-mintage date with a mintage of only 119 pieces. The rule-of-thumb for most proof gold issues is 50-60% of the original mintage survives today. If this same rule is applied to the 1895 the conclusion must be that there are a tremendous number of resubmissions. To date (10/08) the two major services have certified a total of 125 proofs of this date as non-Cameo, Cameo, and Deep/Ultra Cameo--more than the original mintage! This piece is tied for second finest certified with nine other pieces, one at PCGS and eight others at NGC. Only one coin is finer among the three degrees of contrast, a single Ultra Cameo PR68.
According to Breen (1988), there are two varieties of business strike 1895 quarter eagles. One is struck from the proof obverse die with its characteristic minute point down from the lower part of the bun. A large number of prooflikes are known of this date, from both sets of dies. There is, however, no question about the status of this piece. The fields are exceptionally deep in their mirrored reflectivity. The devices, as one would expect from an Ultra Cameo, are heavily frosted and present a stark contrast against the unfathomably deep fields. Close examination reveals evidence of light die polishing in the fields. There are also traces of a clogged reverse die as the denomination shows irregularity on the lower part of that side. A couple of slight contact marks are evident in the left obverse field, but only with magnification, these being the most reliable pedigree markers on this exceptionally preserved piece of proof gold. (Registry values: P2) (NGC ID# 288J, PCGS# 97921)

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Auction Dates
December, 2008
Internet/Mail/Phone Bidders: 4
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