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7100

1876 20C PR65 PCGS. CAC....

2011 August Chicago Signature US Coin & Platinum Night Auction #1158

 
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Auction Ended On: Aug 12, 2011
Item Activity: 5 Internet/mail/phone bidders
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Location: Marriott - Chicago O Hare
8535 W. Higgins Road
Chicago, IL 60631

Description:
1876 Twenty Cent, Gem Proof
Spectacular Iridescent Toning
1876 20C PR65 PCGS. CAC. After a mintage of 2,790 proofs of the 1875, the 1876 saw a significant drop in production with only 1,260 proofs struck. Breen (1977) writes that 2,200 proof twenty cent pieces were sold to collectors in 1875, which means that 590 were still on hand at the start of 1876. The Mint likely used some of the remaining stock to sell to collectors who wanted an example of the newly released denomination but were unconcerned with the date.
However, even with a mintage of only 1,260 proofs in 1876, the Mint still had 450 proofs left over at the end of the year. Breen speculates that the majority were 1876s, the remaining 1875s having been distributed throughout the previous year. While not particularly rare, the 1876 becomes quite challenging in grades above PR65. PCGS has graded only 18 better examples (7/11). Each side exhibits spectacular multicolored toning, which is a bit deeper on the reverse. The mirrored flash in the fields is partially subdued by the depth and intensity of the toning.
From The Oliver Collection.(Registry values: N4719) (NGC ID# 27H3, PCGS# 5304)

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