LOT Heritage Rare Coin Galleries  /  2006 October Dallas Signature Coin Auction #428  / 

2463

1887 G$1 PR64 Ultra Cameo NGC. The Guide Book reports

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1887 G$1 PR64 Ultra Cameo NGC. The Guide Book reports
<B>1887<G$1> PR64 Ultra Cameo NGC.</B></I> The <I>Guide Book</B></I> reports a mintage of 1,043 proofs were struck. For a 19th century gold proof, this figure is relatively high. Yet according to the 9/06 NGC Census, only 59 proof 1887 gold dollars have been certified by the service, regardless of grade or cameo designation. At least a portion of these are resubmissions. The question arises, what happened to most of the proof mintage? One possible explanation was that the gold dollar was a popular denomination for love tokens. Since gold dollars did not circulate in the 1880s, the best way to obtain an example was to purchase a proof from the mint. Jewelers then planed the reverse to provide a surface for initials or a personal inscription. Fortunately, the present intricately struck example avoided such a fate. A thin vertical mark is noted east of the prominent 1. Census: 2 in 64 Ultra Cameo, 4 finer (9/06).
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