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Lot
5324

1854 $1 PR63 Cameo PCGS. All pre-1858 proof coinage is rare, and most of the mintages are unk...

2006 August Denver, CO Signature & Platinum Night Auction #414

 
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Auction Ended On: Aug 14, 2006
Item Activity: 4 Internet/mail/phone bidders
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Description:
Cameo 1854 Seated Dollar, PR63
1854 $1 PR63 Cameo PCGS. All pre-1858 proof coinage is rare, and most of the mintages are unknown for these earlier coins. Guesstimates have to suffice in most instances, and sometimes they can vary widely. The PCGS Population Report states that 30 proofs were issued for the 1854 dollar. However, in the 1980s Weimar W. White estimated mintages of early proof dollars based on auction appearances of early vs. late dates as related to known mintages of the later dates. He concluded that the 1854 dollar had a probable mintage between 99 and 148 pieces. Based on the population data of coins certified to date, that would assume a survival rate between 20% and 30%, which seems reasonable to us for an early proof.
The cameo effect seen on this coin is certainly unusual for an 1854. Only three pieces have received a cameo designation by PCGS and none by NGC, and there are no Deep Mirror Proofs. The fields are deeply mirrored with only the slightest hairlines present that account for the grade. The devices are noticeably frosted and present a stark contrast against the fields, even though the margins on each side are enveloped in smoky gray-rose toning. The striking details are softly detailed over the highpoints, giving the coin the appearance of a singly struck proof. A rare opportunity for the Seated dollar specialist. (PCGS# 86997)

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