Two previously unknown Matte Proof 1922 Peace, High Relief dollars once possessed by former U.S. Mint Director Raymond T. Baker recently surfaced in a California bank vault and are scheduled to be sold at auction in June.
One coin has since been graded Proof 67 by Professional Coin Grading Service and the other graded PCGS Proof 64. The Proof 67 example is the highest graded by PCGS.
The two recently discovered coins are to be sold by Ira & Larry Goldberg Coins & Collectibles in the firm's June 1 to 3 Pre-Long Beach Auction.
The number of Matte Proof 1922 Peace, High Relief dollars surviving varies from surce to source, from as few as five, to as many as 11, depending on the numismatic reference cited. The two discovery pieces could bring the number known to as many as 13 pedigreed pieces.
According to the Goldbergs' auction firm, the two recently discovered Matte Proof 1922 Peace, High Relief dollars were found in a bank vault in Concord, Calif.
"Each traces its pedigree directly to Raymond T. Baker, the Director of the US Mint," according to the auction firm. "Each was carefully tucked away in an old Manila 2 x 2[-inch] coin envelope and marked '1 of first 20 struck - 1922 Given by Raymond T. Baker Sec of Treas.' "
Baker did not serve as Treasury secretary, but served as the director of the U.S. Mint, appointed by Woodrow Wilson; he served from March 1917 until March 1922.
"The two just-discovered coins were passed down from Baker to his second wife, Delphine (Dodge) Cromwell, daughter of Horace Elgin Dodge, who founded the Dodge Motor Company," according to the press release.
Numismatic Guaranty Corp. has also certified an example as grading NGC Proof 67. The NGC-graded piece, reportedly from a Philadelphia estate, was sold at public auction Jan. 9, 2014, by Heritage Auctions where it realized $329,000.
For further information, contact the auctioneer at Ira & Larry Goldberg Coins and Collectibles, Inc. 11400 W. Olympic Blvd. Suite 800, Los Angeles, CA 90064. Telephone the firm at 310-551-2646 or toll free at 800-978-2646. Visit the firm's website at www.goldbergcoins.com.