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Lot
4827

1888 $3 PR66 Cameo NGC. CAC....

2012 January 4-8 US Coins & Platinum Night FUN Signature Auction- Orlando #1166

 
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Auction Ended On: Jan 5, 2012
Item Activity: 4 Internet/mail/phone bidders
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Location: Orange County Convention Center
North/South Building
9899 Universal Blvd.
Hall SB - South Building
Orlando, FL 32819

Description:
PR66 Cameo 1888 Three Dollar Gold
Few Finer Certified
1888 $3 PR66 Cameo NGC. CAC. The plentiful production -- 291 recorded proofs, by far the largest production of the series -- has ensured that a few wonderful high-grade survivors such as the present Premium Gem endure today in the hands of collectors. Although the series ended the following year in 1889, far fewer proofs of the latter year survive.
Although NGC and PCGS combined have seen 227 submissions of the 1888 proof threes, a huge majority of them carry the Cameo designation, and most of them cluster at the PR64 Cameo grade level. In the PR66 Cameo grade of the present specimen, NGC has seen 17 submissions, with one PR66+ and two PR67, all Cameos (11/11).
The surfaces on this Premium Gem are bright and pleasing, a light, even reddish-gold color. A single tiny dark speck on the high point of the cheek is the only mentionable pedigree identifier, along with some minor contact on the date digits. Some apparent microporosity that appears in the same area as on the 1887 proof three, also in this auction, is explained by a comment from Bowers, who notes that "examples typically have an 'aura' or graininess in the obverse field, this being characteristic of other $3 Proofs of this era, and is from the striking process."
Both the three dollar gold and the one dollar gold denominations would be ended in the following year, the former never much needed at all due to the existence of the similar-sized quarter eagle and the handier half eagle, the latter's existence obviated by the glut of Morgan silver dollars and the widespread availability of paper currency, for Americans of either persuasion.(Registry values: N7079) (NGC ID# 28AX, PCGS# 88052)

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