The following post is pulled from
editor Steve Roach’s Market
Analysis column in the Dec. 29 issue.
Proof gold coins from the mid-to-late 19th century through the early
20th century have long been coveted by collectors and have always been
expensive. Someone looking at an entry-level example should be
prepared to pay thousands of dollars for a decent example.
As a general rule, larger denominations are more expensive and eye
appeal is especially important for these Proof coins that have
surfaces that are highly unforgiving toward imperfections. In recent
years, collectors have warmed to the more exotic Matte Finish Proofs
of the early 20th century.
Here is one of three classic Proof gold coins that Coin
World is analyzing this week:
The coin: 1898 Coronet $2.50 quarter eagle, Proof 63 Deep Cameo
The price: $8,812.50
The story: It’s highly unusual to come across a gold coin that
has toning on its surfaces. That’s because gold is not a particularly
reactive metal. But gold is also a relatively weak metal so it is
usually alloyed with copper and silver for circulating coins and
that’s when interesting color can occur.
This 1898 Coronet $2.50 quarter eagle is graded Proof 63 Deep Cameo
by Professional Coin
Grading Service. It’s from a mintage of just 165 Proof
pieces—typical for the era—and has strong cameo contrast. Cameo
contrast occurs when frosted devices are set against mirrored fields.
The color, as described by Heritage—“sky-blue patches at the margins
counterbalance sunset-gold color at the centers, with residual glints
of teal and magenta adding extra pizzazz”—makes the piece memorable.
It brought a strong $8,812.50 at Heritage’s Dec. 4 Houston Money
Read the rest of Steve Roach's "Under $10,000
Challenge" Market Analysis:
1883 Coronet eagle available at
$5,287.50 due to impairment
Proof 1913 Indian Head gold quarter eagle brings $4,993.75
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