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Lot
7364

1889 $1 PR68 Cameo PCGS. CAC....

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
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Auction Ended On: Aug 12, 2011
Item Activity: 10 Internet/mail/phone bidders
1,026 page views
Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:

Vividly Toned 1889 Morgan, PR68 Cameo
Sole Finest at PCGS
1889 $1 PR68 Cameo PCGS. CAC. Ex: JFS Collection. Time has been terribly unkind to Morgan dollar proofs.
Take a gander at the online PCGS Population Report. The summary listing for all proof dates at the beginning of the proof section reveals how few Gem proof submissions survive. PCGS records a total of 7,744 submissions (duplicates included, of course) of proof Morgan dollars in all grades -- itself an amazingly low number, considering that the Guide Book reports a total proof production of 23,843 coins for all dates. Of those 7,744 submissions, only 1,579 of them -- about one-fifth of the total proofs made -- survive in Gem condition or finer.
At the incredible technical grade level of the present piece, PR68, PCGS has seen only 57 submissions, all dates included. Most are non-Cameo coins; include the Cameo kicker, and the number of PR68s drops to 18, all dates. For the 1889 issue, made to the extent of 811 proofs, the present PR68 Cameo, as with some other examples in this marvelous collection, represents the single finest certified example at PCGS (6/11).
This piece is simply another "killer" toned dollar. Rich russet, cobalt-blue, and yellow iridescence at the obverse rims surrounds a nearly brilliant, pale golden center. The reverse, however, presents competing colors. A near-horizontal slash of brilliance across the center vies with a bright blue lower third, with rich reddish patina on the upper portion, and more blue at the top. The Cameo designation, while accurate, pales in comparison to the marvelous patina. The surfaces, as expected, are fully struck and defect-free.
The JFS Collection Morgan dollars are turning out to be a visual treat. Longtime bidder-members of Heritage will recall the equally memorable toned silver commemoratives in high grade that we offered in our Pittsburgh Signature auction #352 (Heritage, 8/2004).
From The Paul Taylor Collection of Proof Morgan Dollars.(Registry values: N7079) (PCGS# 87324)

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