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Lot
6472

1860 $1 PR66 NGC. The Mint experienced considerable ...

2003 May Long Beach Signature Sale #324

 
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Auction Ended On: May 30, 2003
Item Activity: 5 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Richly Toned Proof 66 1860 Seated Liberty Dollar
1860 $1 PR66 NGC. The Mint experienced considerable difficulty in the late 1850s and early 1860s as it tried to win over the general numismatic hobby to the idea of making annual purchases of proof coinage. For most years in this era, public demand for specimen coinage did not match the Mint's output with the result that many coins were melted as unsold. 1860 gives a vivid picture of this, particularly in the case of the Seated Dollar. The Philadelphia Mint prepared 1,000 sets of proof silver and minor coins this year, as well as a further 330 Silver Dollars in anticipation of increased demand for these large and impressive coins. Unfortunately, sales of both sets and singles fell far below expectations with all but 527 of the proof Seated Dollars being melted at year's end.
This fortunate survivor is one of the finest proof Seated Dollars of this date extant. It is also an attractively original specimen with rich multicolored toning in apricot-orange, cobalt-blue, sea-green, lavender, and charcoal-gray colors. Pinpoint striking definition is seen throughout with a reflective finish evident at direct angles. A coin that is sure to elicit strong bids from advanced collectors of 19th century proof coinage. NGC Population: 3 in 66, there is only one finer (2/03).
From the Philip Kaufman Collection. (NGC ID# 252E, PCGS# 7003)

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