LOT Old Heritage Auctions  /  2007 May/June Long Beach, CA Sig. US Coin #438  / 

1371

1860 S$1 PR65 Cameo PCGS. Unlike the current craze for

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1860 S$1 PR65 Cameo PCGS. Unlike the current craze for
<B>1860 S$1 PR65 Cameo PCGS.</B></I> Unlike the current craze for U.S. proof sets, in the late 1850s and early 1860s demand for proof sets was low. Often, the Mint struck many pieces that were melted when they went unsold. The 1860 proof Seated dollar was no exception. That year, the Mint produced 1,000 proof sets, plus another 330 proof Seated dollars. Even though the official mintage was 1,330 pieces for the 1860 Seated dollar, a large number went unsold and were melted at the end of year, leaving a net emission of only 527 coins. Some believe that another 330 proofs were struck for collectors who chose not to buy a complete 1860 proof set. If that is true, the net mintage would rise to 857 pieces. However, even that number appears deceptively high, as PCGS and NGC have combined to grade only 307 1860 proof Seated dollars. Moreover, Gem specimens are extremely elusive. The two grading services have graded a total of 26 Gem proofs (only seven pieces designated as Cameo), and only 28 higher (14 Cameo pieces). This piece offers frosty silver-gray central devices complementing brilliantly mirrored fields, tinged with iridescent pinkish-gray and cobalt-blue patina. Were it not for a few light hairlines and scattered contact marks, this piece might qualify for an even finer grade. As it is, this elusive Gem piece offers much eye appeal. PCGS has certified four coins in 65 Cameo, with five Cameo examples finer (4/07).<BR><BR><b>Shipping:</b> Coins & Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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