Lot 2032
1870. NGC graded Proof 66 Cameo. A marvelous gem example with full glittering mirror surfaces against well frosted raised devices and all untoned. A rare low mintage date as a mere 4,000 were struck for general circulation and only 35 Proofs were made. Housed in NGC holder 1551341-004. Brilliant untoned golden surfaces. A very rare date in the long Liberty Coronet half eagle series that spans the years 1839 to 1907. The 1870 issue had for decades certainly been overlooked by specialized collectors (although a few wise "name" collectors from the last century saw its potential). Today, the 1870 Proof is widely recognized for what it is, an opportunity that should not be ignored! Only 35 Proofs were originally sold to collectors, and while Akers and others fail to give indication for the numbers of survivors, Breen estimates that perhaps a dozen survive today. We believe there may be even fewer than a dozen, and we quote Akers concluding comment about this date, "…very rare and for some unknown reason [1870 Proofs] have appeared at auction less often than similar or lower mintage Proofs of many other dates." When one turns to the certification services, their data further reinforces this belief as most have been certified no higher than Proof 63 or Proof 64 by PCGS or NGC.
Included in the short roster of other Proofs of this issue are: (1) Scanlon:2334 (Stack’s 10/73), described as "flawless," and bringing $4,400. Later this piece appeared in Bowers' 11/2000 Bass IV:504 where it was graded PCGS Proof 64 (2) Garrett 3/76:430, realized $5,000, possibly reappearing in Bowers 9/95:1418, again as PCGS Proof 64 (3) Carter:683, $13,200 (4) Clapp, Eliasberg, Trompeter (5) Heritage 8/95:7818, PCGS Proof 63 with several lint marks in lower left of reverse, $17,600. The Trompeter coin, not auctioned at the time (only the gold dollars through $4 gold pieces were sold in 1992) later was placed by private treaty. This gorgeous Gem Proof 66 Cameo specimen may even be the Clapp, Eliasberg, and as the Trompeter piece it is reappearing after many years. A candidate for "Finest Known". Pop 1; none finer In fact NGC reports the second finest graded as Pf-64 (PCGS # 88465) .
Note: When Ed Trompeter was forming his complete collection of proof gold coinage from 1858 to 1915, this coin eluted him for decades. It was one of the last coins he needed for completion.
Estimated Value $40,000 - 50,000.
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| Realized $77,625 |
