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

2853

1904 $5 PR66 Cameo NGC. Both sides of this impressive

Currency:USD Category:Coins & Paper Money / US Coins Start Price:1.00 USD Estimated At:1.00 - 1,000,000.00 USD
1904 $5 PR66 Cameo NGC. Both sides of this impressive
<B>1904<$5> PR66 Cameo NGC.</B></I> Both sides of this impressive Premium Gem proof have bright yellow surfaces with light cameo contrast. Although the devices are somewhat reflective, this quality deserves the Cameo designation on this early 20th century date, although it would not be called a cameo example if it was dated 10 years earlier. The reason is that the Mint changed their manner of production for proof coins in the early 20th century, and they took steps to eliminate such pieces from their production line. This example is a remarkable piece that is only exceeded by two pieces for overall quality. The 1904 has a proof mintage of 136 pieces, but the relatively high face value caused many pieces to be eventually spent by owners, heirs, and even dealers. Coin dealers often found it more convenient to deposit a gold proof at the bank than to work to sell it for the small premium over face that such pieces commanded prior to the 1940s. The mintage of 136 pieces is thus deceptively high, and the same can be said about the third party population figures, which have been inflated by two decades of resubmissions. Census: 8 in 66, 2 finer (9/06).
Sign In to Bookmark Lot