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November 22, 2013

COIN OF THE WEEK

 

1884 Gold $1 NGC PF66 UCAM
Click on Coin Image to enlarge


1884 Gold $1 NGC PF66 UCAM - $18,500.00

Presenting an absolutely GORGEOUS 1884 Gold $1 NGC PF66 UCAM. Yours for only $18,500.00. Please contact me by email or telephone to reserve this great coin.

This beautiful proof gold dollar specimen has Amazingly deep watery fields, only 3 coins in all grades of ultra cameo at NGC, this one is the finest!

This 1884 Ultra Cameo, Superb Gem proof gold dollar is the finest known at both NGC and PCGS. The coin has amazingly deep, watery fields with frosted devices floating on mirrored surfaces. As expected for a proof coin in this condition, the strike is razor sharp and bold with every detail standing out in full relief. The hairlines are minimal and invisible to the unaided eye. It is a wonderful piece, one of the finest.

James B. Longacre designed the Indian Princess gold dollar. It consisted of a truncated portrait of Liberty facing left wearing a stylized headdress inscribed LIBERTY. She is surrounded by the words UNITED STATES OF AMERICA. The reverse shows an open, elaborate wreath of corn, cotton, maple, and tobacco with the numeral 1 in the top center. Below it is DOLLAR followed by the date.

The present coin is a Type 3 gold dollar. The first type was a Liberty Head similar to Longacre’s double eagle design. It was minted from 1849 to 1854. In 1854, Longacre introduced the Indian Princess motif, the Type 2 gold dollar. However, these pieces 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 problem was much more evident on the branch mint presses, which were much older than those in use at Philadelphia. Since the proofs that were made in Philadelphia did not show this weakness, Longacre was unable to anticipate this situation. As a result of the 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. The Type 2 coin was issued from 1854 to 1856.

In 1856 the Type 3 was coined in the hopes that these striking problems could be alleviated with a design change. 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.

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. 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. Finally in 1854, 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.

Only 4 Ultra Cameo 1884 gold dollars have been certified by both grading services. The population report shows NGC has certified 3 UCAM with the present coin the only and finest known in UCAM66. The PGCS specimen is a PRDC65, PCGS’s counterpart of NGC’s UCAM designation. Here is a unique opportunity to obtain the finest known 1884 Ultra Cameo proof gold dollar.



Very Truly Yours,

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


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