Fr-9; Y-54. VERY RARE issue with a mintage of only 100 pieces struck to commemorate the nationalization of the oil industry. Always in demand when an example is brought to auction as it is unlikely that the survival rate of the original mintage is one hundred percent. Struck from lightly brushed dies to promote the matte finish of the majority of the surfaces which throws the brilliant insets into sharp contrast against their inset frosted devices. Sharp lettering and devices show only a few trivial points of contact as any indication the piece was handled over the decades. The grading services seemingly cannot decide whether this piece should be mint state or proof designated but when both are taken as a whole this piece is tied with one other as the second finest certified with only one piece being one point finer. A stellar and difficult to obtain piece sure to attract spirited bidders..NGC PROOF-68 ULTRA CAMEO.Ex: Stacks Sale March 4-5, 1988, Lot #1660.
