1862 $10 PR64 Cameo PCGS. CAC. JD-1, High R.6....

Description

1862 Ten Dollar, PR64 Cameo
Only 35 Proofs Struck, About 12 Survive
Virtually Unimprovable Rarity

1862 $10 PR64 Cameo PCGS. CAC. JD-1, High R.6. Ex: Simpson. The mintage of proof eagles was sharply reduced in 1862 to just 35 pieces, down from 69 examples the year before. It is doubtful that more than half of this mintage found buyers given the financial pressures of the Civil War. As a result, many coins were melted after the end of the year. In their Encyclopedia of U.S. Gold Coins 1795-1933, Jeff Garrett and Ron Guth estimate only about one dozen specimens survive today. John Dannreuther puts the total between 12 and 14 pieces. Two of the known examples are impounded in the National Numismatic Collection in the Smithsonian Institution, and another is in the collection of the American Numismatic Society, further reducing the supply of coins available to collectors.

PCGS has recorded 10 submission events for the 1862 ten dollar proof, possibly including some duplication. Five grading events are listed in PR64 plus four specimens in PR64 Cameo. A single PR65 Deep Cameo from the Garrett and Loewinger collections is also reported (2/22).

This near-Gem features profound Cameo contrast and extraordinary eye appeal. The deeply mirrored fields display only a few hairlines and microscopic contact marks, while the design elements exhibit razor-sharp definition throughout. A light golden-brown color spot above the eagle's head makes a good pedigree marker. We expect spirited bidding when this lot is called. Years may pass before a comparable specimen becomes available.
Ex: Nathan M. Kaufman; Louis G. Kaufman; N.M. Kaufman Collection (RARCOA, 8/1978), lot 877; Ed Trompeter; Dennis Mendelson Collection (Superior Galleries, 5/1991), lot 2859; Baltimore '93 Auction (Superior Galleries, 7/1993), lot 900; Medio Collection (American Numismatic Rarities, 6/2004), lot 1471; Chicago Signature (Heritage, 8/2011), lot 7619.(Registry values: P5)

Coin Index Numbers: (NGC ID# 28EY, PCGS# 88798, Greysheet# 9604)

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.

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