Goldberg Coins and Collectibles

Sale 91

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Lot 1608

1866 $10 Liberty. Motto PCGS PF65 DC. PCGS graded Proof 65 Deep Cameo PQ. CAC Approved. This is an historic opportunity to purchase one of the finer examples of this prized rarity. After all, only 30 were minted in the Proof format and from that original issue no more than 10-12 survive today. One is impounded in the Smithsonian, that being a lovely PR-63 Cameo example that was obtained in the year of issue for the National Numismatic Collection.

The auction record for this particular date offers some insight into its rarity, a similarly graded PCGS PR-65 was sold in August of 2007 for $138,000 with a notation in the catalog that the coin clearly had Deep Cameo contrast by the then current standards but was housed in an older generation PCGS holder issued prior to the use of this designation by that grading service on gold Proofs. Today it is possible that coin is now one of the other PCGS PR65 Deep Cameo or PCGS PR66 Deep Cameo examples that are reported in their Census but there are no auction records in either grade. The present coin being offered does not appear to have been auctioned in the last 25 years from a review of all recorded sales noted in CoinFacts. There are currently 15 grading events recorded between the combined data of PCGS and NGC for Proof 1866 Eagles, with duplication almost certain in those numbers. One of these is impaired at Proof 53, and when examined most examples exhibit either Cameo or Deep Cameo contrast. It would seem likely that not more than 10 examples are available to the collecting public of this date in Proof.

1866 saw the introduction of the Motto on the reverse which states IN GOD WE TRUST placed on a raised ribbon above the eagle. This Motto was adopted to all coins large enough to display it. Thus, this is the first year of a new type, which adds to the appeal. These were also struck right after the Civil War had ended, and collector orders were low in that bleak time. While the data records two or three coins that are PR66 it is not known if these represent one, two or possibly three coins. Further research will resolve this mystery in time as photographs of the known pieces are available when they are sold publicly. The present coin is clearly a very high end example, and a coin which deserves a strong price for its elegant quality and pristine surfaces. For future identification there is a tiny speck below the second star and a short curved lint mark nearly touching the upper serif of the 1. Boldly struck and untoned. Pop 2; 1 finer in 66 (PCGS # 98806) Estimated Value $75,000-UP

Ex. US Gold from a prominent midwestern family collection.

Realized $158,625

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