Classic Proof silver coins highlighting Legend Rare Coin Auctions’
392-lot Regency Auction XXIV at Caesar’s Palace in Las Vegas on Dec.
14 as part of the Professional Coin Grading Service Member’s Only show
will include the smallest denomination issued in that metal.
Among coveted smaller-denomination Proof coins to be offered in Las
Vegas is an 1863/2 silver 3-cent piece graded PCGS Proof 67 Cameo that
is tied with another example as the finest graded at PCGS. Legend
writes that it believes its quality should merit a CAC sticker, though
acknowledging, “There is one area where there it a die chip and a
small line which can only be seen with a strong glass (and maybe why
CAC did not bean it).” Both sides show rich toning in a mix of jewel tones.
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next coin show and gain early bourse access.
Also this week, John Wexler tracks down the rare 1970-S Lincoln,
Doubled Die Obverse #1 cent.
The variety — with the diagonal of what some believe is a 2 seen
below the 3 in the date — has a reported mintage of 460 pieces and was
probably first recognized by researcher Don Taxay in 1962. The die
variety is known to collectors only as a Proof coin.
Some researchers, including Walter Breen writing in his 1988
Proof Encyclopedia, believe that the variety is a restrike
issue, struck in 1864, since the reverse die exhibits a die crack seen
on circulation strikes of 1864 3-cent silver pieces. Current research
is mixed as to if it is a true overdate or a repunched date. The “Red
Book” (A Guide Book of United States Coins) calls it “1863,
So-called 3 Over 2” but as Heritage observed in its June 2014 offering
of a PCGS Proof 66 Cameo example with a green CAC sticker from the
Gene Gardner collection for $47,000, this, “certainly seems to be an
abundance of caution.” Heritage’s wrote in the lot description
accompanying the Gardner “trime” that, “There is quite clearly
something there, and the something certainly appears to us to be the
downstroke of a 2. The difference of opinion seems to be whether the
underdigit is merely repunching of an 1863 date logotype, or portions
thereof.” Legend estimates its offering at $50,000 to $55,000.
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One of the most beautiful Proof coins in the auction is an 1890
Seated Liberty quarter dollar graded PCGS Proof 68 and possessing a
green CAC sticker. By 1890 the Seated Liberty series was winding down,
soon to be replaced with Barber’s design in 1892, and the Philadelphia
Mint struck 590 Proof quarter dollars in 1890, alongside a very low
80,000 circulation strikes.
Legend writes in its typical exuberant tone, “WOW! What a
magnificent SUPERB GEM Proof quarter. Eye-popping, bold blueberry,
apricot, and tangerine hues blend over brilliant, watery reflective
mirrored fields. The seductive eye appeal grabs your attention from
across the room and once you have this coin in your hand, you will not
want to put it down! The eye appeal is exceptional, the quality is
flawless and VERY HIGH END!”
It was previously offered at Heritage’s June 2014 Gene Gardner
auction, where it sold for $18,212.50 and was described as “among the
most stunningly toned coins in the entire Gardner Collection,” and,
“one of the most beautiful Seated type coins of any denomination we
have ever seen.”
It is one of three like-graded coins at PCGS, where another three
examples of this date are graded as Proof 68 Deep Cameo. Numismatic
Guaranty Corp. has also certified several submissions Proof 68 and
Proof 68+, along with one Proof 69 Cameo piece. While the issue has a
relatively high survival rate and is often used to represent the type,
Heritage warns, “Given the high survival in high proof grades, it is
clearly a late-series issue that was saved in some quantity. But
statistics are one thing; aesthetics are quite another.” At Legend’s
offering it is estimated at $14,000 to $16,000.