Lot 1508
1912 $5 Indian. PCGS graded Proof 63. Well struck with teltale dark olive matte surfaces. We note a few tiny shiny spots and some faint hairlines on the reverse but all in all a choice, bold example of the rare Matte or Sandblast Proof of this year. Only 144 matte Proofs struck. Pop 1; 29 finer (PCGS # 8543) .
After criticism arose following release of the 1908 sandblast Proof gold pieces, the Mint altered its procedure. It dropped the sandblast style, and introduced a satin finish in 1909 and 1910. The satin surface (Charles E. Barber called it "bright") was produced by fresh dies used in the Mint's medal press. The surface is the result of buffing the hubs to remove cutting burs from the reducing lathe. The earlier (and later) sandblast pieces were made by taking a satin Proof coin and doing just that: lightly sandblasting it. The officials at the Philadelphia mint decided they could not make brilliant Proofs like those in the previous Liberty head series, and wanted something distinctive for collectors. The sandblast finish was last used in 1915 on America's Proof gold.
Estimated Value $8,500 - 9,500.
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| Realized $12,650 |
