1889
GOLD DOLLAR PCGS PF65 CAMEO CAC Click on Coin Image to
enlarge
1889
Gold Dollar $1 PCGS Proof 65 CAMEO CAC- $13,500.00
Here’s
a scarce and incredible condition gem proof gold dollar
that’s in a PCGS holder and also approved by CAC.
In fact only 6 coins have been approved by CAC and NONE
BETTER !
Please contact me by email
or telephone 1-941-291-2156
to reserve this great coin.
1889 Gold $1 PCGS PR65
CAM CAC. Truly excellent proof gold dollar with cam
on the holder but deep cam in my eyes. One of only
6 coins to have been Cac’d in Proof 65 Cam and
none better.
In its population report, PCGS shows 6 1889 gold
dollars certified at the PR65 CAM grade level. At
CAC, as of November 2013, the present coin is tied
with 5 others in PR65 CAM with none finer.
This 1889, last-year-of-type Gem Cameo proof gold
dollar is tied for the second finest known at PCGS
and the finest known at CAC. Unlike many of this date
that, according to Garrett and Guth in their Encyclopedia,
are often seen with polished-out feathers on the headdress
of the obverse side, this specimen shows full details
on the devices of both sides, which are frosted and
float on deep mirrored fields. Certainly this piece
could have been designated Deep Cameo without doing
harm to the grading service’s reputation. The
coin is, of course, original and clean for the grade
with no distracting hairlines or other problems. The
CAC sticker indicates that the coin is a premium quality
piece that fully merits the assigned grade.
Designed by James B. Longacre, the Indian Princess
gold dollar showed a head of Liberty facing left wearing
a stylized feathered headdress. It is inscribed LIBERTY
on the headband. She is surrounded by the legend UNITED
STATES OF AMERICA. The reverse shows an open wreath
of corn, cotton, maple, and tobacco tied below with
a bow. The wreath encircles the denomination, 1 DOLLAR,
and the date. The problem with the coin was that it
did not strike up well. In fact mint state examples
looked worn and, in some cases, so circulated that
the date could not be read on the coin. This problem
most affected the branch mint issues, which Longacre
did not get to see until afterwards. The proofs that
he saw did not have this as a problem. To remedy this
situation, Longacre designed the Type 3 gold dollar.
While the design was similar to the previous issue,
Longacre lowered the relief and moved the obverse
head so as not to be opposite a reverse relief area.
This coin is called the Large Size or Large Head.
The dollar coin was part of Alexander
Hamilton’s original plan for the nation’s
coinage; however, there was none until 1830’s,
when Christopher Bechtler, a private minter, began
to coin dollar and other denomination in gold. However,
the coins were variable in fineness and frequently
counterfeited. In 1844 a bill was introduced in congress
to make gold dollars. Mint Director Robert Patterson
was opposed. He falsely claimed that there was no
public demand for these coins. He did not want Longacre,
the Mint Engraver, making new dies because that would
interfere with Franklin Peale’s medal-making
business. He thought that Longacre’s job might
be abolished if new coinage was not needed. However,
five years later Congress recognized the need to coin
the new California gold that was coming into the Mint.
The public need a replacement for
the paper currency that was frequently only acceptable
at a discount and for the silver that had vanished
during the “Hard Times” of 1837 to 1844.
Notwithstanding Patterson’s objection, Longacre
made the dies for the gold dollar and production began
on May 8th of both business strikes and proofs. Longacre
was born in Pennsylvania in 1794. When he finished
his apprenticeship in Philadelphia as a bookseller
and a banknote engraver, he worked on his own as an
engraver of book illustrations and bank notes. His
works included one on the signers of the Declaration
of Independence and another on stage personalities.
In 1830, Longacre began a series of biographies of
famous men in the military and the political arena.
In 1834 the result of this series
became the National Portrait Gallery of Distinguished
Americans that was published in four volumes. Longacre
and those who worked with him became famous because
of this work. In 1844 Longacre came to work at the
Mint. He was opposed by Franklin Peale, the Chief
Coiner. Ten years later, Peale was fired by President
Franklin Pearce. Longacre flourished in his position
and was responsible for creating many new designs
including the Indian Head cent, the two-cent piece,
the Shield nickel, the Liberty Head gold dollar, the
Indian Princess gold dollar, the three-dollar gold
piece, and the Liberty Head double eagle.
According to Garrett and Guth, many proofs of 1889
entered circulation or were melted because hoarding
gold dollars had peaked by this time.
