1 Dollar (sold for $110000.0)

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1850. PCGS graded Proof 60. Lovely golden toning on both sides. Only 2 known. Walter Breen, in his encyclopedia of Proof U.S. coinage (1977), cited this issue (along with the 1850 quarter eagle, half eagle, and eagle) as Unknown in Proof, but provided this supposition: "though at least one of each must have been struck in Proof for the set made up for the Congressional Committee on the Library, per Patterson letter 9/26/50." We wonder, could this piece be from just that set? We shall never know, but what is a especially pertinent is that the coin is downright magnificent even with the minimalist "60" grade assigned by PCGS. Yes, there are some a few light hairlines from possible old-time cleaning, but the strike definition is needle-sharp while the fields on either side exhibit flashy, full-depth mirrors. The mirror field is like that seen on the more regularly offered dates from 1858-on. Characteristic of early Proofs made before quality control procedures became formalized, there are scattered light lint marks in the field on the reverse, the most evident lint mark just to the left of the numeral 1, and a less visible one above the I in UNITED. Liberty's profile is gently frosted against the mirror polish in the field. Also noteworthy, the rims show excellent but not entirely complete rim denticles. The coin itself is accurately represented in its PCGS holder, with the entire warm toning as a further identifier. What this fascinating coin realizes at auction is up to you, the bidders, but we wouldn't be at all surprised if it easily surpasses our estimate, considering the breath of collecting nowadays in the Gold rarities of the United States. The collector who purchases this lot will be joining a highly select group of numismatists. Only a handful of collectors have ever had the opportunity to own a Proof 1850 Gold Dollar. Pop 1; none finer at PCGS (PCGS # 7593) . From the original Heritage 1995 sale description: Friday, February 3, 1995, Long Beach, CA. Lot 5301, an 1850 gold dollar described as a "possible proof," comes up for auction. It starts a bidding war. The winner walks away with the coin for $7,480, a staggering sum for what was then a controversial piece. Walter Breen was on the record as proclaiming the one-time existence of a gold proof set for 1850, citing correspondence from Mint Director Robert M. Patterson, but the set and all coins in it were thought long-lost. Though a number of numismatic experts -- including "Jeff Garrett, Art Kagin, Julian Leidman, Jim Halperin, Sal Fusco, and John Pittman" -- believed the lot to be a proof gold dollar, none of the major grading services of the time (ANACS, NGC, and PCGS) would certify it as such. Time, of course, has vindicated the winning bidder and all the underbidders who drove this coin to its impressive final price. PCGS came around and certified the coin as PR60, and Jeff Garrett went on to write the Encyclopedia of U.S. Gold Coins with Ron Guth, in which they included the following notes about proof 1850 gold dollars: "The only 1850 gold dollar that can lay claim to Proof status was last sold in 1995. The coin is fully mirrored and extremely well struck. There are scattered lint marks that would lend credence to die polish. Unfortunately, the coin has been lightly burnished at one time. Another example is rumored to exist in a museum collection in France." Unless that French museum decides to deaccession its rumored proof 1850 gold dollar or another example emerges from the woodwork, this is the sole proof 1850 gold dollar that is available to collectors. Though hairlined, its reddish-gold surfaces gleam with deep and reflective luster. Of note on the dies is a brief web of small cracks through the end of UNITED and the start of STATES on the reverse; depressions that can serve to identify this piece in the future include a lint mark between the I of UNITED and the rim as well as a narrow rectangular depression that appears as a horizontal "dash" to the left of the 1 on the reverse. Estimated Value $115,000 - 125,000. Ex Heritage 10/2012, Lot 5514; previously, Superior 7/2005 PCGS Proof 60, in earlier holder #21984735, Heritage 2/1995. Categories: $1 Gold

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