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1892 $1 PR68 ★ Ultra Cameo NGC....
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Sold on Aug 2, 2017 for:
$49,350.00
Bid Source: HA.com/Live bidder
Description
1892 Dollar, PR68 ★ Ultra Cameo
The Finest Known Proof
Absolutely Gorgeous in Every Respect
1892 $1 PR68 ★ Ultra Cameo NGC. Ex: Chappell Collection.
Proof set sales in 1892 nearly doubled over those of the previous
year as a result of the dime, quarter, and half dollar debuting. It
was the first new design type that at least two generations of
Americans had seen on the lesser denomination silver coinage. The
new subsidiary silver coin designs were by the hand of Engraver
Charles Barber. Barber was a master of the mechanical requirements
of the Mint, and his Liberty Head and eagle designs reflected an
ideal relief and layout of the motifs for efficient mass
production. However, where technical necessities were impressively
mastered, artistic creativity was lacking. Barber's Liberty
portrait was more reminiscent of a Roman Emperor than the
allegorical personification of American liberty, and the eagle was
a rather unexciting variation of the Great Seal, similar to designs
used on early Bust coinage of nearly a century earlier. The designs
failed to excite collectors, and demand for the new coins
evaporated before the end of the year.Proof set production in 1892 closely reflected the fast fall-off of collector interest in the new Barber coins. While more than 1,200 sets were issued, the vast majority were ordered in the first two quarters of the year. According to the mintage delivery dates, only 250 proof sets were delivered in the latter half of 1892.
The proof 1892 Morgan dollar's high mintage in relation to other proof issues in the series makes it plentiful today. However, quality is lacking on most survivors. Dave Bowers and Wayne Miller have both described the 1892 proof as frequently coming poorly struck, and a glance at auction appearances reveals that the issue is decidedly rare in Superb Gem condition. Cameos are in a minority, and only the most patient and well-heeled collectors can attempt to acquire a rare Ultra Cameo, such as the coin offered here.
In all grades, NGC has seen only six Ultra Cameos, and PCGS reports just four. Of these, three are graded PR68 and one is designated PR68 ★ (6/17). The glittering white-on-black Ultra Cameo from the Chappell Collection is arguably the sole finest 1892 proof Morgan dollar known. Strongly detailed devices have equally intense frost, and the surrounding mirrors have remarkable reflectivity with only occasional streaks of milky patina. The fields are absolutely smooth, and the coin offers eye appeal in spades. At this top grade and contrast level, the 1892 is rarer than the more famous and highly valued 1895.(Registry values: N7079)
Coin Index Numbers: (NGC ID# 27ZM, PCGS# 97327, Greysheet# 7834)
Metal: 90% Silver, 10% Copper
Weight: 26.73 grams
ASW: 0.85oz
Mintage: 1,245
Auction Info
2017 August 2 - 6 ANA US Coins Signature Auction - Denver #1258 (go to Auction Home page)
Auction Dates
August, 2017
2nd-6th
Wednesday-Sunday
Bids + Registered Phone Bidders: 22
Lot Tracking Activity: N/A
Page Views: 982
Buyer's Premium per Lot:
17.5% of the successful bid per lot.
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