1862 $1 PR67 Cameo NGC....

Click the image to load the highest resolution version.

Sold on Jun 26, 2008 for:

$69,000.00 Bid Source: Internet bidder

Get one of these:

Share this lot

Track Item Printable Auction Results

Sell One of These

Description

Auction Info

Guides & Info

Description

Remarkable PR67 Cameo Seated Dollar

1862 $1 PR67 Cameo NGC. Lavish blue-green, plum-red, and golden-brown toning graces the obverse, leaving a window of brilliance across the right obverse field and much of the seated Liberty. The reverse has a forest-green upper border, which cedes to navy-blue, toffee-gold, and ruby-red between 6 and 9 o'clock. The right reverse is dominated by blended lavender and gunmetal-gray, which much of the left reverse remains untoned.
This magnificent Superb Gem has a razor-sharp strike, even on the usual problem areas such as Liberty's hair, the upper stars, and the eagle's left ankle. The denticles are squared-off, characteristic of proofs, and the fields are highly reflective despite areas of attractive original toning. White-on-black contrast is blatant where the surfaces are brilliant.
Business strike mintages of 1862 Seated dollars amounted to only 11,540 pieces. Mint State examples are rare, and none are known in grades above MS65. The reason for the low mintage was the Civil War, which made it unsafe to ship bullion across the Atlantic Ocean. The Seated dollar became primarily a trade coin, much as the Trade dollar would be, as early as late 1848, when its bullion value first exceeded face. There was no other reason for silver dollars to be coined after 1853, since speculators could accumulate examples from circulation and profitably melt them. Mintages rose annually after 1862, as the Confederate Navy became less effective.
Proof 1862 silver dollars are also very scarce, since only 550 pieces were struck. These are identified by a slightly upward slope on the date and an inner circle within the denticles near UNITED. At the PR67 level, the 1862 is extremely rare. As of (5/08), NGC has certified only two pieces as PR67, both as Cameo, with none finer. PCGS has yet to certify any examples in grades above PR65. Those in search of the finest quality collection need look no further.(Registry values: N10218)

Coin Index Numbers: (NGC ID# 252G, PCGS# 87005, Greysheet# 7311)

Weight: 26.73 grams

Metal: 90% Silver, 10% Copper

View Certification Details from NGC