1859 G$1, CAM PR(PCGS#87609)

Spring 2026 Showcase Auction U.S. Coins

Auctioneer

Stack's Bowers

Lot Number

3108

Grade

PR64CAM

Price

14,400

Lot Description

The 1859 is the first Proof gold dollar with a reported mintage figure. It is also the highest mintage Proof gold dollar produced up to that point in time. The 80 pieces struck represents a dramatic increase over the estimated mintage of 25 coins for the Proof 1858. The increased production for the Proof 1859 is the result of the Mint's eagerness to share in the profits generated by the first great surge in popularity of numismatics as a hobby in the United States. So eager, in fact, that it widely overshot the mark when it came to anticipated demand for Proof gold coinage in 1859. With only 20 to 30 coins known today (per John W. Dannreuther, 2018), most of the 80 Proofs struck were either melted or released into commerce, the latter either by the Mint or after purchase, in both cases at face value. On the other hand, the 1859 gold dollar exists in (far) greater numbers than the other Proof gold issues of this year, the smaller denomination and, hence, smaller purchasing power of these coins making them more likely to be acquired and preserved by contemporary Americans than the quarter eagle, half eagle, etc.<p>There is no lack of willing buyers for classic Proof gold coins in the numismatic market of the 21st century, for advanced collectors recognize these pieces as defining elements in the finest cabinets. As the earliest date in the Proof gold dollar series that can be considered collectible, and the only realistic candidate to represent the Proof gold coinage of the year as far as most collectors are concerned, the Proof 1859 enjoys particularly strong demand. And this Choice Cameo specimen is destined for inclusion in an advanced collection, for it is an attractive example in all regards. Well contrasted between frosty devices and mirrored fields, this piece is further enhanced by delicate silver-rose highlights on deep orange-olive gold color. There are no handling marks of note apart from a few wispy hairlines that do little more than define the Proof-64 numeric grade. A highly desirable coin, historically significant and numismatically rare, this beautiful specimen will surely see spirited bidding.