1885 $10 PR65 Cameo NGC. CAC. JD-1, R.6....

Description

1885 Ten Dollar Liberty, PR65 Cameo
Only 65 Proofs Struck
Ex: Eliasberg-Trompeter

1885 $10 PR65 Cameo NGC. CAC. JD-1, R.6. Ex: Trompeter. In 1885 the mintage of proof tens jumped from 45 to 65 pieces. It is interesting to read Garrett-Guth and compare their reasoning about the scarcity of the 1885 to that given in John Dannreuther's proof gold reference. Both come to the same conclusion: The 1885 is much scarcer than its mintage would indicate. The reasoning by Garrett-Guth is the Mint was not successful in selling all the proof tens struck in this year, thus lowering the number actually distributed (the remainder presumably were melted at year's end). JD theorizes collectors and dealers may have spent high-denomination proof gold coins when cash was in short supply. He explains: " ... when a coin is common as a circulation strike, collectors were more inclined to spend their Proof. Rare commercial strike dates have a greater percentage of Proofs that survived, as collectors kept their rare dates and spent the more common ones in times of need." (This, of course, assumes the proof 1885 ten dollar is a common date.) Curiously, even though Garrett-Guth was published more than a decade prior to John's book, they have a ready refutation: "If this was the case of collectors spending their Proof coins at a later date, one would expect a number of circulated or impaired Proofs to be on the market, which is not reflected to any significant degree in the coins seen today." Back and forth it goes.

What is of more importance are the number of high-grade proofs of this date today. Dannreuther's estimate is 16 to 20 pieces are known. He lists 10 Significant Examples with two additional appearances, both of which (the WGC coin and the one listed in the Brand journal) are surely duplicated somewhere on his roster. This is a magnificent, almost perfectly preserved proof. The fields are deeply mirrored with a subtle rippling orange-peel effect, which set up the cameo effect against the frosted devices. Fully defined in all areas. Only one other PR65 Cameo has been graded by NGC, PCGS has certified only one, both have graded none finer (6/19).
Purchased privately by John Clapp from the Chapman Brothers (9/1895); John M. Clapp; John H. Clapp; Stack's as agent in 1942; Louis E. Eliasberg, Sr.; Eliasberg Collection (Bowers and Ruddy, 10/1982), lot 782, where it brought $14,300; Ed Trompeter; Trompeter Estate, sold by private treaty to Heritage (8/1998); FUN Signature (Heritage, 1/1999), lot 8247, where it sold for $46,000.
From The Cody Brady Collection. (Registry values: P2)

Coin Index Numbers: (NGC ID# 28FP, PCGS# 88825, Greysheet# 9673)

Weight: 16.72 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

View all of [The Cody Brady Collection ]

View Certification Details from NGC