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1896 $2 1/2 PR68 Ultra Cameo NGC....
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Description
1896 Quarter Eagle, PR68 Ultra Cameo
None Numerically Finer
Ex: Pittman
1896 $2 1/2 PR68 Ultra Cameo NGC. A reported mintage of 132
proof Liberty quarter eagles was accomplished in 1896, larger than
in previous years but smaller than any later proof mintage for the
series. The PCGS CoinFacts website estimates 60-80 examples survive
in all grades today, a reasonable estimate, given the average
survival rate for proofs of this vintage. It is possible that some
coins remained unsold and were melted after the close of the year.
It also seems likely that a few pieces were spent by their owners
during hard times in the late 19th and early 20th century, when
gold proofs commanded only marginal premiums when offered publicly.
Several examples are in institutional collections today, including
three in the National Numismatic Collection at the Smithsonian
Institution.Proof quarter eagles of 1896 are known for their high technical quality and tremendous eye appeal, but this coin stands out, even in such a well-produced issue. This coin traces its history to the fabulous John Jay Pittman Collection, a mark of distinction for any coin. Jeff Garrett and Ron Guth singled out this piece for special mention in their Encyclopedia of U.S. Gold Coins 1795-1933:
"A few truly superb examples are known, and three have been graded at the PF-68 level. The finest coin the authors have seen of this issue was the amazing John J. Pittman example that sold for $46,750 in 1998."
The many virtues of this coin completely justify such a high evaluation. Razor-sharp detail is evident on all design elements and the copper-gold surfaces are impeccably preserved. The devices are richly frosted, creating stunning cameo contrast with the deeply mirrored fields when the coin is tilted in the light. A microscopic planchet flaw above the highest leaf on the reverse acts as a pedigree marker. This combination of absolute rarity, incredible eye appeal, and illustrious pedigree is seldom available. The discerning collector should bid accordingly. Census: 4 in 68 Ultra Cameo (2 in 68 ★ Ultra Cameo), 0 finer (3/15).
Ex: Thomas Melish Collection (Abe Kosoff, 4/1956), lot 1320; John Jay Pittman; Pittman Collection, Part II (David Akers, 5/1998), lot 1858.(Registry values: P2)
Coin Index Numbers: (NGC ID# 288K, PCGS# 97922)
Weight: 4.18 grams
Metal: 90% Gold, 10% Copper
Learn more at the Newman Numismatic Portal at Washington University in St. Louis.
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