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Lot
2476

1859 $1 PR67 NGC....

2008 September Long Beach, CA US Coin Signature Auction #1116

 
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Auction Ended On: Sep 18, 2008
Item Activity: 3 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Lot Viewing:
Room 104A

Auction Room:
Room 103B

Description:
Wonderful 1859 Dollar, PR67
One of Two Finest Certified With Star
1859 $1 PR67 NGC. The 2009 Red Book reports that 800 dollars were struck in proof format in 1859. David Bowers writes in his 1993 Silver Dollars and Trade Dollars of the United States that:

"... many Proofs were made this year in the hope that the public, which was becoming increasingly interested in numismatics, would buy them. Today, the issue is quite rare, and it is likely that 450 or fewer were actually distributed. Even that figure might be on the high side. There were hardly 450 numismatists in 1859 interested in buying Proof dollars from the Mint. However, enough coins survive today to indicate that 450 is a reasonable estimate of distribution."

In any event, NGC and PCGS have certified approximately 290 1859 proof dollars, ranging in grade from PR50 to PR67, with the vast majority falling within the PR61 to PR64 range. The two services have assigned the Cameo designation to a few pieces. NGC has given the coveted Star label to a mere three pieces, a PR66 and two PR67s.
The Superb Gem with offered in this lot displays light gold-beige patination around the peripheries that transitions into medium intensity cobalt-blue in the central areas. A splash of purple is visible on the lower half of Liberty, and a blush of lilac occupies the area around the eagle's head and neck. Complementing the exquisite toning pattern is a penetrating strike that brings out virtually complete delineation on the design elements. Both faces are impeccably preserved, and yield modest field-motif contrast when the coin is tilted slightly under a light source. A wonderful coin overall.(Registry values: N10218) (NGC ID# 252D, PCGS# 7002)

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