SPECIMEN STRIKE. The Finest of 3 Known! Likely struck as a commemorative beginning of the Barber series! SP66★!
For many years this coin has been touted as a "Branch Mint Proof" or at least something "very special" from the likes of Walter Breen, David Hall and the catalogers and auctioneers who have placed it on the market in the past. Clearly, consensus has been that this coin IS the Branch Mint Proof it has been proclaimed to be, but since mint records were so sparse in those days there is no existing documentation as to exactly why it was prepared.
Of course, a few very plausible conclusions can be made. It’s 1892. It’s the first year of the Barber design and the inauguration of it at the New Orleans Mint, who would have had no reason not to show their prowess in creating a coin of this magnitude. A mere three examples are known to exist, the present NGC SP66★, an NGC SP62 and an NGC SP61. This is, of course, the finest known and is well deserving of the Star designation it has also been given by NGC.
Branch Mint Proofs and Specimen Strikes have been the rarest of the rare for generations but the term "Specimen" is relatively new overall. For a long time they were completely misunderstood even by the best numismatists, but today more and more research is advancing this field of study and creating a demand like we’ve never seen. The only thing we don’t understand is, why are they still so reasonably affordable for their rarity? That’s for you to decide, but a phenomenal addition to any world class collection. NGC Price Guide: 142,000 Pop 1/0
