|
Sale 78
|
|
press UP arrow key to increase the zoom ratio.
press DOWN arrow key to decrease the zoom ratio.
press RIGHT arrow key to increase the zoom window size.
press LEFT arrow key to decrease the zoom window size.
|
|
Lot 1738
1859. NGC graded Proof 65 Ultra Cameo. Only 80 pieces minted. Pop 2; none finer at NGC. Only 2 examples designated as UCAM by NGC. Tied for the Finest Known. A blazing Brilliant Proof.
More to the point, the entire surface is dazzling bright and untoned, with Ultra Cameo Gem devices, making this one of the most exceptional early "Indian Princess" $3 pieces extant! This issue is the first in the Proof Three-dollar series for which the Guide Book lists a mintage figure. A total of 80 pieces are believed to have been struck, as reported in federal archives, but it seems impossible that all of these were distributed by year's end considering the meager number of auction appearances (see census below). Mint Director Colonel James Ross Snowden's campaign to market Proofs to collectors was in its infancy, and we agree with Bowers and Winter that possibly as many as two-thirds of the mintage may have been melted as unsold. Today, it could be that as few as a dozen Proof 1859 $3 gold pieces exist, with the present sparkling Gem Proof 65 certainly one of the most appealing.
Both sides are evenly frosted on the devices, frost whose finish is sleek against reflective fields supporting the bold devices. Well-balanced yellow-gold color throughout, there are neither blemishes that are worthy of note nor irregularities such a lint marks or edge problems. Pedigree concerns alone cause us to mention a tiny spot in the field below the letter U in UNITED. With solid technical merits plus infinite eye appeal, this coin could easily become a showpiece in an advanced Type collection of U.S. gold, or, if the challenge be taken, in an even more advanced Proof date collection of $3 gold.
The Year 1859, has a history of rich mining bonanzas west of the Mississippi River. In the newly-discovered Comstock Lode in Nevada, prospector George Hearst paid $450 for a half-interest in a mine which proved to be a lollapalooza. He then used his new-found wealth to engage in newspaper publishing and other enterprises. His son, William Randolph Hearst, would use the family fortune to build San Simeon, a castle on the California coast, and to expand his publishing empire. Meanwhile, in the Colorado district of Kansas Territory, an estimated 10,000 gold-seekers arrived in the Denver area to stake their claims to fortune. Horace Greeley, editor of the New York Tribune, visited Denver and learned that the town's only hotel was a tent. As always, gold proved elusive to many, but new arrivals soon found occupation in other trades and laid the foundation for permanent settlements. Oregon was admitted to the Union this year as well, and in the early twentieth century would have its own significant gold discoveries near Sumpter, Baker City, etc.
Estimated Value $40,000 - 45,000.
|
| |
| Realized $58,750 |
|
