1862 $3 PR65+ Deep Cameo PCGS. CAC. JD-1, High R.6....

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1862 Three Dollar, PR65+ Deep Cameo
Only 35 Proofs Struck, 14 to 16 Examples Remain

1862 $3 PR65+ Deep Cameo PCGS. CAC. JD-1, High R.6. Proof gold from the 1860s is uniformly rare, throughout all denominations. Some issues are so rare that they are virtually unobtainable, for instance, the 1863 quarter eagle, a proof-only date. The rarity of these early proofs forces type collectors into the later years of whatever denomination is under consideration. In this case, a proof type collector would pursue a three dollar gold piece from the 1880s, where higher mintages do indeed translate into higher availability. The earlier years are generally unavailable except high-visibility public auctions, and the bidding audience is usually limited to specialized collectors, or dealers, who know having such a coin in inventory will result in a sale sooner rather than later. This is especially true today when rarities bring significant premiums, sometimes record-breaking prices.

A mere 35 proofs were struck in 1862 with fewer than half the mintage believed extant today, or 14 to 16 pieces in all grades. Predictably, most of the few survivors known grade lower than this Plus-certified Gem, with only two pieces certified finer (both at NGC). Among PCGS-certified proofs, this is the finest by virtue of the Plus designation with only two other Gems graded (2/22). Of the remaining proof 1862 threes, a significant portion show Deep/Ultra Cameo contrast; however that "significant portion" does not translate into a "significant number" of coins. Since 2004 only seven Deep/Ultra examples have been offered for sale at public auction, with Heritage offering four of those. Only two pieces have been auctioned as Cameo, one in 1992 and one in 2019. The population of non-contrasted proof 1862 threes is meaningless since none have been offered at auction since 2006, which was about the time the grading services began to designate Cameo and Deep/Ultra Cameo proofs. This indicates the previously non-contrasted proofs of this date have either since been designated as Cameo or Deep/Ultra Cameo, or they have not been offered at public auction.

This remarkable coin displays rich golden surfaces with a hint of reddish patina and profound contrast between the frosted devices and deeply reflective fields. An outstanding piece of proof gold and one of the highlights of this portion of Bob Simpson's collection.(Registry values: P4)

Coin Index Numbers: (NGC ID# 28A2, PCGS# 98025, Greysheet# 8694)

Weight: 5.02 grams

Metal: 90% Gold, 10% Copper

View all of [Important Selections From The Bob R. Simpson Collection, Part VIII ]

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