| Description: |
Silver. Plain edge. Silver and pewter gray fields show mirrored reflectivity and beautiful
old cabinet toning in mottled shades dominated by deep gray, gold, and rose on the obverse
while bright blue dominates the reverse periphery. An exceptionally beautiful coin, both
in terms of its preservation and the excellence of Longacre's famed Indian Princess
design. This toning and fine surface quality was enjoyed by Harold P. Newlin (he of half
dime fame) and T. Harrison Garrett, as well as those Garretts that cared for and added to
the collection after T. Harrison's death in 1888. Boldly struck, again with a wire edge,
with only the most faint hairlines noted under magnification and a tiny nick at star 12
noted for identification. As rare as it is beautiful, fewer than a dozen are known and
only five pieces have been certified, with the only PCGS piece graded merely Proof-62.
Pollock noted only the sale of this piece (twice, once in 1883 and again in 1980) along
with a piece in the 1954 Farouk sale and another in the 1952 ANA sale in his survey of
thousands of catalogues and fixed price lists - a study that should put the rarity of this
item in proper perspective. The only auction appearance since the publication of the
Pollock study in 1994 was the 1997 sale of this very coin when it was graded Proof-66 by
PCGS. This piece is now tied with one other as second finest graded by NGC, but only six
years ago was considered finest certified. Those who have purchased their new Judd book
should add a notation that the single appearance noted in that volume was a reappearance
of the Newlin-Garrett coin, sold at the time without pedigree but easily plate-matched.
With only three distinct coins traced over the last century and only five certified, we
could argue that this piece deserves to be called full Rarity-7. In any event, this coin
is the best pedigreed of any example of this variety and is among the finest in terms of
technical grade and superior eye appeal. Its purchase will greatly add to any world class
cabinet of pattern coins.NGC Census: 2; 1 finer (Proof-66). PCGS has certified only one
piece, a Proof-62. In 1997, this coin was graded Proof-66 by PCGS.
Newlin, a
Philadelphia attorney, offered Garrett a group of patterns in July 1885 at which time he
indicated they were "obtained from my friend Colonel O.C. Bosbyshell, who was Chief
Coiner in the Mint from 1877 until his resignation a few months ago." His 1883 sale
was rated B for patterns by John W. Adams. Newlin was what would be called today a
"vest pocket" dealer best known for his research on early half dimes. As a
collector in Philadelphia in the 1870s, he had the ability to purchase pieces directly
from the Mint, and this piece may have come directly from his friend Colonel Bosbyshell or
purchased through more traditional Mint channels.
Haseltine's description from the 1883
Newlin sale was as follow: "1870 Longacre dollar. Indian queen, with stars. Plain
edge. The name 'Longacre' in lower right corner. Rev. corn wreath. 'Standard' above.
Silver Proof. Excessively rare." This piece was the last lot in that famous sale.
An extensively provenanced coin: Most recently sold in Auctions by Bowers and Merena,
Inc.'s sale of November 1997, Lot 1398. Earlier, from Bowers and Ruddy's sale of the famed
Garrett Collection, Part II, March 1980, Lot 1044. Earlier still, purchased from John
Haseltine's sale of the Harold P. Newlin Collection, April 1883, Lot 356. Newlin most
likely purchased this coin directly from the Mint. |
