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A simply beautiful Proof cent, the best of a very rare breed, an unusual case where the
"EAC" style grade exceeds the "market" grade, as this piece has been
acclaimed a Proof-65 by Denis Loring in his census of Proof large cents. The surfaces are
dominated by bright orange-red, faded in areas of the left obverse and at reverse
periphery to a pleasing pale olive. The surfaces are deeply mirrored and impressive to
behold, and the design elements are boldly struck up but for the E in CENT. All stars show
central detail, and the dentils are each complete in their definition. The dies are
clearly in an early and essentially unused state. The cataloguer of the 1984 Starr sale
noted that this piece was "dazzling perfection but for some faint hairlines and
contact marks, mostly on the reverse," minor flaws which account for the grade as
assigned but do not detract from splendid visual appeal. Indeed, the Starr cataloguer
called this cent "infinitely desirable," after mentioning its extraordinary
rarity. Denis Loring's ANS COAC study of November 1996 notes that "the random nature
of proof production in these early years is well illustrated by 1822: Only ten to twelve
proofs are known, but they include five different varieties." Loring indicates his
belief that Proofs were made to order as gifts or for sale to collectors; since Newcomb-10
is widely thought to have been the very first variety of the year, it seems likely that
such coins were struck off early in the year for presentation. Loring's census estimates
that six or so examples of the Newcomb-10 variety are known in Proof, including the
impaired Byron Reed example (now certified as Proof-63 BN) and the cleaned Lahrman coin,
which is certified as Proof-62 BN. The Norweb coin is "the best of the rest,"
with excellent color though showing some scattered tiny flyspecks and traces of an old
fingerprint. The Norweb catalogue mentions the presently offered coin, saying
"Starr:156 brought $18,700; it was, perhaps, one point nicer than this piece."
This piece is by general agreement the finest known example of this variety in Proof, an
important American numismatic property and a most desirable coin.NGC Census for all 1822
varieties: 1; none finer in designation. Two 1822 Proof cents have been certified Proof-64
RD, with only BN specimen graded Proof-62.From J.C. Morganthau's sale of June 1942, Lot
349; Floyd Starr Collection; Stack's sale of the Floyd Starr Collection, June 1984, Lot
156; R.E. "Ted" Naftzger to Eric J. Streiner; the Legend Collection of Proof
large cents.
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