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1858 $1 PR67+ Cameo NGC. OC-P1, Low R.4....
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Sold on Jan 13, 2022 for:
$102,000.00
Bid Source: HA.com/Live bidder
Description
1858 Seated Dollar, PR67+ Cameo
Sought-After Proof-Only Issue
Finest Certified Example
1858 $1 PR67+ Cameo NGC. OC-P1, Low R.4. Ex: Simpson.
Osburn-Cushing Die State a/a. The 1858 Seated Liberty dollar was
only produced in proof format. The reason no business-strike coins
were produced that year has never been satisfactorily explained. Q.
David Bowers suggests there was no commercial demand for dollars in
1858, which may be true, but large mintages of subsidiary silver
coinage that year argue against this reasoning. On the other hand,
the Philadelphia Mint began its program of commercial proof set
offerings in 1858. On its Coin Info page for the issue, NGC
suggests it is possible that Mint Director James Ross Snowden
refrained from issuing business strikes to encourage sales of
proofs in the initial year of that program. We suspect we have not
heard the last word on that subject.No official mintage figures have ever come to light for the 1858 Seated Liberty dollar, but most experts estimate about 300 coins were produced. Two die varieties are known for the date. Both varieties employed the same obverse die. This coin represents the more available OC-P1 variety, which features the same reverse die that was used previously to strike proofs in 1856 and 1857, and used again to produce 1851 and 1852 Restrikes. Some rust lumps on the first S in STATES and the L in DOL identify this reverse, classified as Reverse 1856 PA in the Osburn-Cushing series reference. Two die states are known for the OC-P1 variety, suggesting that the coins may have been struck in different time periods. This coin shows a large unfinished area under Liberty's chin, characteristic of obverse die state a. Apparently, the die was polished at some point, after which the unfinished area under Liberty's chin was greatly diminished, characteristic of die state b.
The other die variety for 1858, the extremely rare OC-P2, employed a reverse that was used to strike regular proofs in 1859 and Restrikes of 1851, 1852, and 1854. It seems likely that OC-P2 is a restrike issue, too, but that is not definitive. Osburn and Cushing note it is possible that the late die state of OC-P1 was struck after OC-P2, possibly making those coins restrikes, as well.
This Plus-graded Superb Gem proof is the single-finest certified example at either of the leading grading services (11/21). The design elements are sharply defined throughout, with intricate detail evident on all star centers, Liberty's hair, and the eagle's feathers. The impeccably preserved surfaces are highlighted by vivid shades of sea-green, turquoise, jade-gray, and amber toning. The deeply reflective fields contrast boldly with the frosty devices, producing a startling cameo effect when the coin is tilted in the light. Registry Set enthusiasts will find no adequate replacement for this magnificent specimen once this coin passes the auction block.
Coin Index Numbers: (NGC ID# 252C, PCGS# 87001, Greysheet# 7299)
Weight: 26.73 grams
Metal: 90% Silver, 10% Copper
View all of [Important Selections from The Bob R. Simpson Collection, Part VII ]
Auction Info
2022 January 12 - 16 FUN US Coins Signature® Auction - Orlando FUN #1341 (go to Auction Home page)
Auction Dates
January, 2022
12th-16th
Wednesday-Sunday
Bids + Registered Phone Bidders: 28
Lot Tracking Activity: N/A
Page Views: 696
Buyer's Premium per Lot:
20% of the successful bid per lot.
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