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Lot
5642

1870 $1 PR66 Ultra Cameo NGC....

2011 January Tampa FUN Signature & Platinum Night US Coin Auction #1151

 
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Auction Ended On: Jan 6, 2011
Item Activity: 4 Internet/mail/phone bidders
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Location: Tampa Convention Center
333 S. Franklin St.
Tampa, FL 33602
Description:
Starkly Contrasted 1870 Seated Dollar
PR66 Ultra Cameo
One of the Two Finest Known
1870 $1 PR66 Ultra Cameo NGC. The 1870 Seated Liberty dollar was struck to the tune of 1,000 pieces in proof format, the first time since 1861 in which the mintage of proof dollars touched the 1,000 mark. David Bowers writes in Silver Dollars and Trade Dollars of the United States: A Complete Encyclopedia:

"It is one of those little anomalies of numismatics, and a spur to numismatic research and inquisitiveness, to note that today 1870 proof dollars are slightly scarcer than are, for example, those dated 1867 (which has a considerably lower mintage of 625 pieces).
"Apparently, most 1870 proof dollars were distributed with minor and silver proof sets. The scarcity of survivors suggests that quantities may have remained unsold at the end of the year and were melted, many after July 10, 1873."


Of the nearly 450 1870 proof dollars certified by NGC and PCGS, only about 70 are Cameos, and fewer than 10 are Ultra/Deep Cameos. The present Premium Gem Ultra Cameo is one of the two finest certified.
The surfaces on both sides are essentially untoned, and the frosted devices stand in stark contrast with the highly reflective fields. The strike is full on each side with no hint of weakness. A handful of wispy handing marks are located in the obverse fields under high magnification and might well preclude an even higher grade. Census: 2 in 66 Ultra Cameo, 0 finer (10/10).
Ex: 2009 FUN Sale (Heritage, 1/2009), lot 3972, where it brought $31,625.
From The Joseph C. Thomas Collection, Part Two. (PCGS# 97018)

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