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    1862 Three Dollar Gold, PR64 Deep Cameo
    Deeply Frosted Early Strike, CAC

    1862 $3 PR64 Deep Cameo PCGS. CAC. JD-1, High R.6. The Philadelphia Mint's expectations for proofs were low in 1862. Uncertainties about the Civil War outcome tempered demand, and as the fighting and casualties intensified, just 35 proofs were struck -- a sharp reduction from previous proof mintages in 1860 and 1861, when 119 and 113 proofs respectively were made. Never popular with the general population even before the war, a nominal circulation-strike mintage of 5,750 three dollar pieces was produced, most of which quickly disappeared into hoards.

    Fortunately, surviving 1862 proofs are easily distinguished from prooflike circulation strikes. The obverse die was used to strike proofs in 1861, 1862, and 1863, while the reverse die is unique to the 1862 proofs. Circulation-strike 1862 coins show the date closer to DOLLARS, while proofs have the date positioned lower toward the bow and slightly left.

    According to recent research by John Dannreuther, 1862 three dollar proofs exist in small number, with only 14 to 16 pieces known. Most 1862 proofs lack Deep Cameo contrast, prompting Dannreuther to note:

    "This date seems to either have little frost, or qualifies for Deep Cameo, as the dies were heavily frosted, but lost this feature after only a dozen or so of the 35 coins were struck."

    Interestingly, five of the top six proofs known are Deep Cameo examples (including the present coin), seemingly representing the earliest proofs made. This rich, yellow-gold example is CAC-endorsed, with impressively frosted devices that that contrast boldly with flashy and well-mirrored, jet-black fields. A loupe reveals some minute graininess in the left obverse field -- referred to as an "aura" by Q. David Bowers, who observed similar traits on other 1862 proofs -- and the coin has a few widely scattered wisplike hairlines, accounted for in the assigned grade. A distinct wire rim encircles the pinpoint-sharp strike on both sides.

    Heritage has offered only three 1862 Deep or Ultra Cameo proofs in the past dozen years, the finest a PR66 Ultra Cameo NGC coin that realized $70,500 in our FUN Platinum Night auction in January, 2013 as lot 5838. A PR65 Deep Cameo PCGS brought $69,000 in 2007 as lot 3122 in that year's January FUN Platinum Night offering. We expect close attention from gold specialists when this near-Gem Deep Cameo 1862 example is called.(Registry values: P4)

    Coin Index Numbers: (NGC ID# 28A2, PCGS# 98025)

    Weight: 5.02 grams

    Metal: 90% Gold, 10% Copper

    View Certification Details from PCGS

    Auction Info

    Auction Dates
    December, 2019
    5th-7th Thursday-Saturday
    Bids + Registered Phone Bidders: 20
    Lot Tracking Activity: N/A
    Page Views: 1,385

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