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Sale 78
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Lot 1712
1896. PCGS graded Proof 65. CAC Approved. Housed in an Old Green Holder. Only 132 minted. Nice cameo coin. A tiny obverse spot in the right field. It seems that a limited original mintage of 19,070 business strikes plus 202 Proofs, makes the 1896 an understandably scarce coin at all levels of preservation. David W. Akers opines that most survivors are either Mint State or Proof, however, few seem to have circulated. According to Walter Breen (1988), the specimen strikings are attributable by having the date far to the right in the obverse field below Liberty's portrait. This is just such an example, a sleek cameo finish is also an assurance of Proof status. The fields are reflective with a gentle orange-peel texture, whereas the devices are richly frosted creating an almost matte-like texture. Neither side displays anything less than razor-sharp striking detail. There is a small "flake" (as struck) on the nose and the aforementioned minor toning spot by the third star. As a well-regarded Proof 64 example, this coin would serve as a centerpiece in any collection of 19th century Proof gold. Pop 7; 5 finer in 66 (PCGS # 7922) .
Reference is often made to "orange peel" surface on Proof. After the dies are hubbed and the date is applied, the die is given multiple polishes with progressively finer and finer polish. The last polish given to the dies prior to being hardened gives the field a surface quite like a mirror. This is the deepest mirror attainable on the dies. When the die is hardened, the metal shrinks slightly creating a rippled effect on the polished surfaces. It looks somewhat like the surface of an orange. When you see orange peel on a Proof issue you can be sure that it is one of the first examples struck from those dies. Later polishing to the already hardened dies will produce a flatter and shallower mirror.
Estimated Value $12,000 - 13,000.
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| Realized $27,025 |
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