LOT Heritage Rare Coin Galleries  /  2007 Jan (FUN) Heritage Signature Coin #422  / 

3427

1862 $2 1/2 PR66 Deep Cameo NGC.

Currency:USD Category:Coins & Paper Money / US Coins Start Price:47,500.00 USD Estimated At:1.00 - 2.00 USD
1862 $2 1/2 PR66 Deep Cameo NGC.
<B>1862 $2 1/2 PR66 Ultra Cameo NGC.</B></I> The Garrett-Guth <I>Gold Encyclopedia</B></I> comments tellingly of this rare issue, "The reported and accepted mintage of just 35 coins is probably accurate for this rare issue. Although the mintage is much lower for the 1862 Proof Liberty Head quarter eagle, it is not as rare as the higher-mintage 1861 Proof quarter eagle. The population reports indicate that as many as 32 coins have been graded. This number is likely inflated by resubmissions. There are probably fewer than 15 coins of this date in Proof, including examples in the permanent collections of the Smithsonian and the ANS. The 1862 quarter eagle is just as rare as the famous 1863 quarter eagle, but it has been overshadowed by the latter date as it was a Proof-only issue." Of course, this is high praise from two of the most noted and prominent commentators on the American numismatic scene today, as the 1863 Liberty Head quarter eagle is a fabulous and legendary rarity, made to the extent of only 30 pieces.<BR> Walter Breen's <I>Proof Encyclopedia</B></I> (1977) actually puts the 1862 in the same rarity class as the 1861 (Garrett-Guth notwithstanding), adding further, "probably a trifle rarer. The number of survivors may be as low as a dozen." The date is low in the exergue, punched somewhat delicately into the die. The leftover reverse die from 1860-61 was reused here, showing thinness in vertical stripes 2, 3, and 4 of the shield.<BR> Scrutiny of the NGC and PCGS population reports confirms the rarity and desirability: Both services combined show a total of only 17 proof examples graded, an extremely low number completely in line with Breen's estimate when a reasonable factor is removed for resubmissions and crossovers. (In fact, Breen's estimate of a dozen pieces might be a bit on the high side.) This is the finest Gem and the only Ultra Cameo Gem at NGC, while PCGS has graded a single PR66 Deep Cameo (12/06). The expected and delectable black-on-gold contrast is prominent, and the coin is expectedly pristine. The only pedigree markers noted are two tiny, loupe-visible dark toning dots, one directly below star 9, another on the reverse in line with the tip of the olive branch. Ultra-rare, and ultra-nice.<BR><BR><b>Shipping:</b> Coin/Currency (<a target="_blank" href="http://www.heritageauctions.com/common/shipping.php">view shipping information</a>)
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