Lot 1642
Gem Proof 1873 Gold Dollar: the Finest Graded! NGC graded Proof 65. Light cameo contrast. Few Proofs were coined during the difficult years of the 1860s and 1870s, as the nation was first at war, then rebuilding, and coin collecting was pursued by only a smattering of folks, probably eastern industrialists needing something to do with their war profits besides building themselves castles on Long Island and in Florida. Demand for coins like this was slight, to say the least. In the main the Mint was probably coining them to preserve a record of its production.
How well protected those coins were not after being made is proven by the Pop reports: not many coins of the period have been graded, leading one to ask what happened to the rest of them. The few graded for each year of the '60s and '70s are mainly nice choice pieces, indicating they were indeed bought and kept by the wealthy. Certain dates, however, show a real lack of population. This is one of them! For 1873, PCGS has graded only 3 of the 25 minted (or maybe fewer: resubmissions?). Those 3 are all in PR64 slabs. At NGC the situation is much the same: 3 graded in all, 2 of them in 64CAM holders, and only one in a PF65 case--this coin! Looking for something rare to buy? This should surely fit the bill.
From a short distance, this coin is really super looking. Bright and, when held out of a really bright light, showing some cameo contrast. Under a glass there are some ticks to quibble about, and some wispy hairlines (those robber barons who made their fortunes feeding rotten meat to Union troops might have taken care with their collections, but they could never have foreseen the days of such intense scrutiny as we live with today). Study this, make your decision, then bid accordingly. You won't have many chances to bid on another 1873 Proof, though, so temper your thoughts with a dose of reality. So far, this is the best there is!
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