There are currently no items available for purchase in this Department. Search our Auction Archives below to find item values.
Lot
1187

1884-CC $1 PR66 Cameo NGC....

2009 August Los Angeles, CA US Coin Auction #1128

 
Sold for: Sign-in or Join (free & quick)
Claim Item: Sign-in or Join (free & quick)
Auction Ended On: Jul 31, 2009
Item Activity: 8 Internet/mail/phone bidders
4,372 page views
Location:

Hyatt Regency Century Plaza
2025 Avenue of the Stars
Los Angeles, CA 90067

Description:
Extremely Rare Branch Mint Proof
1884-CC Dollar, PR66 Cameo
1884-CC $1 PR66 Cameo NGC. The extreme rarity of the four branch mint proof 1884-CC dollars is well known to specialists. What is not as well known, and is in fact extraordinary, is that Jack Lee owned two of the four known pieces. At first we thought this must be the same coin we sold in the Morris Silverman Collection in 2002. However, when we compared it to the plate in the Silverman catalog, we came to the startling conclusion that they are clearly two different coins, with distinctly different pedigree markers.
In his 1986 book The Morgan and Peace Dollar Textbook, Wayne Miller termed the 1884-CC dollars as Class III coins, meaning little was known but these coins might be proofs. Other Class III branch mint dollars include the 1881-O and 1884-O. However, after we have examined two of 1884-CC dollars, we are of the opinion these coins can be "promoted" to Class II strikings, i.e., "unauthorized but definite branch mint proofs."
The four criteria set out by Wayne Miller for proof strikings include: a bold strike, square rims, virtually perfect surfaces, and mirrorlike fields. This coin fits three of the four criteria listed. The only exception is square rims, which one really would not expect on a branch mint proof dollar, almost all of which were struck from dies intended for circulation. (The only exception we are aware of is the 1879-O.)
In 1995 we handled the Anita Maxwell Trust of Morgan Dollars, a collection that included eight branch mint proofs. This provided a singular opportunity to study these coins in-depth and publish the findings. One of the most important features we found:

"All branch mint proof dollars, except the 1879-O, were struck from regular production dies that had been heavily polished to produce a proof surface in the fields. All were struck more than once, giving the coins a crispness of strike not found on regular production coins. While the fields were polished to a depth that is comparable to Philadelphia proofs of the period and striking details are usually comparable also, the overall quality of branch mint proofs is not fully comparable to Philadelphia coins. From examination of the eight coins it seems that this is true for two reasons. First, all coins show incomplete die polishing, especially in areas where there is little blank surface between the design elements. Second, small patches of die rust are seen on several of the coins--a curious and surprising discovery that indicates that in some cases mint personnel heavily polished discarded or worn dies--dies that had lain around the mint long enough to rust slightly. From these observations we may also conclude that branch mint personnel were not familiar with Philadelphia proofs and what was required to produce such coins. The presence of die cracks indicates that most branch mint proofs were either struck during a production run or at some time afterward, but not before as one might suspect (except for the 1884-O and 1921-S)."

The 1884-CC branch mint proofs were struck from VAM-3 dies. According to the VAMworld website, these heavily used dies are characterized by: "Doubled 18 in date. 1 doubled below top crossbar and to left of bottom crossbar. Die chips at inside right of top and bottom loops of first 8 and slightly doubled right outside of upper loop. Second 8 slightly doubled at top inside of bottom loop. Slightly doubled nose, lips, chin and back of Phrygian cap." The proofs were struck from an advanced state of these dies, with extensive die cracks noted around the periphery on the obverse. Also, the die chipping in the top of the loop of the 8 appears to have diminished from die lapping, and the chipping in the bottom loop of the 8 is more sharply defined here, now an arc in that part of the digit rather than generalized chipping.
As seen also on the earlier Jack Lee branch mint proof, this piece shows an area of heavy die polish in front of Liberty's eye. Also common to both coins, and branch mint proofs in general, there is an unpolished area between the eagle's neck and right (facing) wing. This is common to these pieces because of the branch mint's unfamiliarity with striking proof coinage. It appears an attempt was made to try and strike coins that closely resembled Philadelphia proofs; however, lacking actual proof dies there were necessarily limitations to how "proof" these pieces could be.
Allegedly, there are four branch mint proof 1884-CC dollars known. We have not traced the pedigree of these four pieces, but this would make an interesting numismatic research project for someone with an extensive numismatic library. The fields on this piece have mirrorlike reflectivity that goes well beyond that seen on a prooflike dollar. The surfaces are nearly perfect, lacking the usual small abrasions from coin-to-coin contact. Similar to the other Jack Lee proof sold in the Morris Silverman Sale (Heritage, 4/2002), close examination with a loupe reveals tiny lint marks, an obvious attempt by mint personnel to wipe the dies prior to striking, but tiny lint marks adhered to the dies from static electricity. Both sides are evenly matched in color with a reddish undertone that is overlaid by rich cobalt-blue. A curious feature of this coin is seen over the ear of Liberty. It shows faint remnants of roller marks. This is most likely from setting the dies too far apart rather than a lack of striking pressure.
The 1884-CC branch mint proof is one of the great rarities in the Morgan dollar series. So few pieces are known that most silver dollar collectors are not even aware of their existence. For those who do know, this lot represents a rare opportunity to acquire this important coin.
Ex: Estate of Jack Lee Collection (Heritage, 1/2009), lot 5084, which realized $184,000.
From The Bay State Collection, Part Two. (PCGS# 107319)

View all of [The Bay State Collection, Part Two ]
View large image(s) of this item

Service and Handling Description: Coins & Currency (view shipping information)

Sales Tax information  | NGC Coin Grading Guarantee  |  Terms and Conditions

Bidding Guidelines and Bid Increments

Guides and Pricing Information:

Previous Prices from Heritage Auctions
Sign-in or Join (free & quick)
Price Guide
Sign-in or Join (free & quick)
Population Guide
Sign-in or Join (free & quick)
Find Auction Prices for Comparable Items:

Photographs:
Sign-in or Join (free & quick) to see the full image




Videos:
FLOOR AUCTIONS View All
Open For Bidding
Coming Soon
HERITAGE MEMBERSHIP
888,502
bidder-members
$982,344,824
sold in the last year
VIEW BENEFITS
  1. Past Auction Values (prices, photos, full descriptions, etc.)
  2. Bid online
  3. Free Collector newsletter
  4. Want List with instant e-mail notifications
  5. Reduced auction commissions when you resell your
    winnings 
CONSIGNMENTS WANTED
Only 15 days left to consign to the 2015 January 4 - 5 NYINC World Coins & Ancient Coins Signature Auction - Waldorf NYINC!
Learn About Consigning With Us
Due completely to Heritage's thoroughly diligent and professional management and promotion of the collection, the faraday Collection stirred national attention among numismatists and the auction results brought a gross value greater than that last estimated by the experienced collector.
The Estate of David M. Faraday ,
San Rafael, CA
HA.com receives more traffic than any other auction house website. To compare for yourself, visit: compete.com
Take our 2014 Coin
and Currency Survey
Grand prize:
A Certified Uncirculated
1907 High Relief $20!*
Take the Survey
HERITAGE VIDEO TUTORIAL
GETTING THE MOST OUT OF SEARCH
RECENT AUCTIONS
2014 October 8 - 13 PNG New York Invitational US Coins Signature Auction - New York
2014 October 8 - 13 PNG New York Invitational US Coins Signature Auction - New York
REALIZED $11,171,560
2014 September 3 - 10 Long Beach Expo World Coins Signature Auction - Long Beach
2014 September 3 - 10 Long Beach Expo World Coins Signature Auction - Long Beach
REALIZED $9,057,528
2014 September 4 - 8 Long Beach Expo World Currency Signature Auction - Long Beach
2014 September 4 - 8 Long Beach Expo World Currency Signature Auction - Long Beach
REALIZED $1,806,473