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Lot
3307

1864 $1 PR67 NGC....

2010 August Boston, MA Signature & Platinum Night ANA Coin Auction #1143

 
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‡Note: The owner placed a late bid on this unreserved lot and repurchased it, subject to applicable commission.
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Auction Ended On: Aug 11, 2010
Item Activity: 5 Internet/mail/phone bidders
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Location:

Hynes Convention Center
900 Boylston Street
Boston, Massachusetts 02115

Description:

1864 Seated Dollar, PR67
Low-Mintage, Low-Availability Issue
1864 $1 PR67 NGC. Ex: Simpson. In general terms, the 1864 dollar is considered scarcer as a business strike (30,700 pieces coined) than the proof issue (470 pieces), as apparently many of the business strikes were subsequently lost or melted. Of course, one can throw away such generalizations when a Superb proof is encountered. Both grading services have only seen two examples in PR67 (one each), but what is truly surprising is three coins have actually been graded PR68. Viewing this coin it is difficult to imagine a proof with more eye appeal or surfaces that have been better preserved.
Of interest to specialists is that this small proof production was struck from three die pairings. In Bowers' dollar Encyclopedia (1993), he speculates (based on a letter from Walter Breen) that one of these die pairings may have been from restrike dies, and the actual number of 1864-dated proofs could have been higher than the 470-piece official mintage. The jury is still out on this speculation.
This proof displays an amazing original appearance and virtual lack of surface distractions. Each side exhibits moderate, but somewhat different toning. The obverse has a mix of deep antique-gold, turquoise-blue, and a smattering of rose color, the reverse is slightly deeper with gunmetal-blue and copper-gold colorations. Only the closest examination reveals a single pedigree identifier, an almost invisible horizontal lint mark struck into the reverse field above the eagle's wing and below the beak.
Ex: 2003 ANA Auction (Heritage, 8/2003), lot 8299.
From The Bob Simpson Collection.
(Registry values: N10218) (NGC ID# 252J, PCGS# 7007)

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