Rare Gem Proof Coins to be Offered at Auction!

Dallas, Texas: "When collecting gold coins, there's nothing more pleasing than to see a real Gem Proof example," said Greg Rohan, President of Dallas-based Heritage Auction Galleries, "and we're proud to present two such exquisite specimens in our upcoming auction."

"First to be offered is what is almost certainly the finest known proof 1876 half eagle," said Rohan. "It is tied with one other example for the finest numerically graded proof of this date, both certified PR66 Cameo by NGC. These are the only two pieces - assuming there are two examples - graded by either service at this grade level, regardless of contrast. Three examples certified as PR64 Deep Cameo are the best that PCGS has certified. Like the other proof gold coinage of 1876, just 45 examples were coined, with 20 of these delivered on February 19, and the other 25 coins delivered on June 13. Possibly 20 examples survive today, probably fewer."

"Although we cannot be certain," Rohan continued, "the proof 1876 eagle we're offering appears to be the Trompeter Collection specimen, handled by our firm via private purchase and sale a number of years ago. One of the identifiers for that particular coin were two lintmarks between the first and second stars and, indeed, this coin displays two lintmarks at that location."

"Just as with the other proof gold coins of this year, the mintage was limited to only 45 coins," Rohan said. "Today, approximately 15 examples still survive. Larger denomination gold proofs did not survive in the same numbers as the smaller denomination coins. This is purely a matter of economics, as each coin tied up a substantial amount of money at that time. Ten dollars, for example, was a considerable sum to expend for a single coin at the time, and retaining multiple examples representing various dates was a significant investment. Cost-of-living calculators available on the Internet tell us that ten dollars in the year 1913 is equivalent to 200 dollars today. Obviously, ten dollars in 1876 would be worth even more. If a collector held some of these gold proofs when falling on economic hard times, the largest denominations would be spent first."

Still speaking of the 1876 eagle, Rohan added, "Not only are proof examples of this issue rare, but business strikes are similarly hard to find. Only 687 examples were coined for circulation, with Mint State survivors virtually unknown. We doubt that even 100 eagles dated 1876 survive in any grade or striking format."

"These coins are both outstanding specimens," Rohan said, "and will certainly be the pride of even the most advanced numismatic collection."

Heritage Auction Galleries will offer these exquisite coins in their upcoming Signature Auction, August 13-14, 2006, to be held at The Warwick Denver Hotel, 1776 Grant Street, Denver, CO, 80203.

1876 $5 PR66 Cameo NGC

1876 $10 PR65 Cameo NGC

Images, descriptions, and prices realized from all of Heritage's previous auctions are available in the Permanent Auction Archives at the Heritage website, www.HA.com.

To reserve your copy of a catalog for any upcoming Heritage auction, please contact Nicole Jewell, c/o Heritage Auction Galleries, 3500 Maple Avenue, 17th Floor, Dallas, TX 75219, or call 1-800-872-6467, ext. 272.