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September 14 , 2015

COIN OF THE WEEK

Gem 1884 Gold $1 NGC PR68 CAMEO - $37,500.
Click on Coin Image to enlarge


Gem Cameo. Tied for the finest graded. Here is a stupendous, Superb Gem proof 1884 Gold Dollar that has great Cameo contrasts. Smoldering orange-gold devices float on deep mirrored fields. The coin is really flashy and gem . I mean cmon, PROOF 68 Cameo! As expected for a coin of this stature, the strike is bold and full in every respect and just awe inspiring. Have not had a gem gold dollar like this for nearly 10 years!

Please contact me by email or telephone 1-800-624-1870 to reserve this great coin.

James B. Longacre designed the gold dollar. The Indian Princess motif was first used in 1854. These coins did not strike up well because the obverse portrait was in high relief and there wasn’t enough of a metal flow to fill the dies on both sides. Longacre had underestimated the power of the coining presses in use at the time. This was especially true of the branch mint coining presses, and Longacre did not see the problem until the Indian Princess design was in circulation. Many examples showed central weakness, the hair or the date was blurry or illegible. Most coins wore down quickly and were sent back to the mint to be recoined.

To remedy this situation, Longacre created a second Indian Princess type. The new coin retained the same diameter, and the obverse relief was lowered. In addition, the portrait was modified so the relief areas were not opposite. The solution that Longacre chose was to adapt the design of the three dollar gold piece. The words of the legend were placed nearer the border. The head was placed farther from the letters, and the feathers’ shapes, sizes, and locations also changed. The new design modifications were successful and the coin remained in use until 1889.

When Longacre first came to work at the Mint, he was opposed by Franklin Peale, the Chief Coiner. Peale was probably responsible for some blundered dies that Longacre was criticized for making. Peal was involved in a private, illegal medal manufacturing business using Mint facilities. He was concerned that this new political appointee would interfere with his business, and he resisted Longacre’s appointment as Chief Engraver. In the end Peale was found out and fired in 1854. 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.


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ADDITION NEW COINS ADDED - (Week of 9/07/2015)

1874 Liberty Seated 25C NGC PR65. Arrows

1871 Liberty Seated 25C PCGS MS65. With Motto. Satin White

1865 Liberty Seated 25C NGC PR65 CAM. No Motto. Gem White Cameo

1914 Barber 25C NGC PR68. Fabulous color

1906 Barber 25C NGC PR68. Gem White Proof

1914 Barber 25C NGC MS67. Sole Finest graded at NGC

1876-CC Liberty Seated 25C NGC MS66. With Motto


Very Truly Yours,

Tom Pilitowski
www.usrarecoininvestments.com
Toll Free:
1-800-624-1870
Email: TomPilitowski@yahoo.com


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