SOLD – $1.00 – 1859 PCGS PR64CAM CAC

1859_1_PPR64CAM_CAC.jpg
1859_1_PPR64CAM_CAC.jpg
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SOLD – $1.00 – 1859 PCGS PR64CAM CAC

13,500.00

Serial Number 87609.64/27365101

PCGS Lookup Number 87609

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Proof Gold is a rich collector’s game but armed with a smaller budget, you can still purchase truly rare coins in the gold dollar denomination. As an example, one need only look at this 1859 to see exactly what I mean.

There were only 80 Proof gold dollars struck in 1859 but even this small number greatly overestimated the demand from the small number of active collectors. Many were spent or melted and today there are probably fewer than 20 known, mostly in the PR63 to PR64 range. Most have been dipped or lightened and examples with natural color are almost impossible to find.

This extremely nice piece has the naked-eye appearance of a Gem but there is some light friction (probably from storage in an old coin cabinet) seen in the left obverse field. The color is a very pleasing medium russet and the reflective surfaces are nicely contrasted by the frosted devices. A small spot beneath the 1 in the date serves as identification.

A PCGS PR64CAM 1859 gold dollar with CAC approval sold for $22,325 as Heritage 8/13: 5803 but this piece was in an old holder and was undergraded by at least a full point. An NGC PR64 CAM sold for $12,650 back in April 2002 and a PCGS PR63 CAM just brought $8,519 as HA 1/15: 6834.

A low five figure sum won’t buy you much in the larger denominations but in gold dollars this sum will enable you to own a genuinely rare Proof struck before the outbreak of the Civil War. To my way of thinking, this 1859 dollar represents wonderful value for the savvy collector.

CAC has approved 1 in this grade with none finer (Cameo designation only).