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    Description

    1859 Six-Piece Gold Proof Set
    To Be Offered Singly and as a Set

    1859 G$1 PR66 Cameo NGC.

    ****This lot was withdrawn as a single lot and sold as a part of a set in lot 5215.****

    The following six lots are an 1859 gold proof set. Each coin will be offered individually, but none of the prices realized for these six lots will be final until they are all offered as a six-piece set. The seventh lot will give bidders the opportunity to purchase these 1859 gold coins as a set. The total of the six coins will be the opening price for the seventh lot, and if a full or half increment above the total price is realized then the six coins will be sold as a set and the individual prices will be null.
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    R1859 Gold Dollar, PR66 Cameo
    Only One Coin Numerically Finer



    1859 G$1 PR66 Cameo NGC. Surviving gold proofs for most denominations of 1859 number about 10 coins each, but the situation is more relaxed for the one dollar pieces. Still, the number is small, estimated between 15 and 20 pieces in Jeff Garrett and Ron Guth's Encyclopedia of U.S. Gold Coins (2006). Across PCGS and NGC combined, seven coins are reported in non-Cameo format, 12 in Cameo, one in Deep Cameo, and seven in Ultra Cameo (2/15).

    Mintages of these coins remained small until the 1880s, when demand for small denomination gold increased. A number of reasons have been cited for the escalated production -- a larger number of collectors, for use in jewelry, or as Christmas gifts. Roger W. Burdette, in the April 17, 2006 edition of Coin World, presented related correspondence from within the Mint. The Mint was opposed to using the pieces for jewelry, which it considered "mutilation." On the other hand, the Mint still wanted to produce enough coins to prevent a "speculative value."

    This coin is near the top of the Condition Census, with only a single coin numerically finer, a PR67 Cameo example certified by NGC. Additionally, PCGS has graded one coin in PR66 Deep Cameo, while the NGC census reports two examples graded PR66 Ultra Cameo. The present coin is the only piece graded PR66 Cameo by either service.

    This example exhibits yellow-gold color with more intense saffron noticeable inside the upper left portion of the wreath. Die polish is evident on both sides, in the left-most portion of the headdress on the obverse, and on the reverse within the highest leaves of the wreath. Technical production of proof gold in this era had not reached the ultra-high standards of the late 19th century, and there is some weakness in the dentilation on both sides. Further inspection reveals a shallow, Mint-made, planchet depression in the obverse right field. As expected for the grade level there are no marks of note, and this piece is an eye-appealing example of the rare, early proof gold coinage of the U.S. Mint.

    The price realized for this lot will not be final until the six coins in this 1859 gold proof set have been offered as a set. If the price realized for the set does not exceed an increment or half increment of the total for each of the coins individually, then this lot will sell as a single piece.
    From The New Orleans Collection.(Registry values: P5) (NGC ID# 25E2, PCGS# 87609)

    Weight: 1.70 grams

    Metal: 90% Gold, 10% Copper


    Learn more at the Newman Numismatic Portal at Washington University in St. Louis.

    View all of [The New Orleans Collection ]

    Auction Info

    Auction Dates
    April, 2015
    22nd-26th Wednesday-Sunday
    Bids + Registered Phone Bidders: 13
    Lot Tracking Activity: N/A
    Page Views: 1,076

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