Just about the most perfect Proof cent of this year I have ever seen. - B. Max Mehl, 1948.Warm rosy orange covers much of the surface while gentle violet and steel mottling come to life as the coin is rotated in the light. Glittering reflectivity in the fields while the central obverse motif is satiny and richly lustrous. The strike is sharp and even, having produced fully defined design features from Libertys curls to the star centers on the obverse as well as the fine veins in the leaves of the wreath. Most impressive upon first inspection, and even close study under magnification reveals little more than a couple of faint hairline scratches that underline the bust tip, these being useful for identification, but of little further consequence on this otherwise beautiful cent.The vast majority of the Proof large cents bearing the dates 1817 through 1838 were struck from dies that were also used to produce coins intended for circulation. This is likely due in part to challenges and costs associated with die production, which waned as the years progressed and technology improved, but it is also likely a factor of limited collector demand. Of all the Proofs struck in this period, just one extremely rare variety, the 1834 Newcomb-7, was struck in Proof format only. The 1841 Newcomb-1 marks a change in this practice in that it is the first case of Proof-only dies being used to make a relatively large quantity of large cents, suggesting a desire at the Mint to prepare a more standardized product of superior finished quality. It was not a procedure adhered to in every case, but there are several Proof-only issues from 1841 through the end of the series in 1857. While some question has been cast upon certain coins among the "Proof" cents in this period as to their true nature, those struck from Proof-only dies guarantee the intent at the time of manufacture, as opposed to an otherwise necessary reliance upon a coins physical attributes for such determination. The Pogue Collection contains only three Proof cents dated 1841 or later, and each one is from a Proof-only die pairing.Prior to its acquisition by D. Brent Pogue, this piece was owned by Ted Naftzger, widely recognized as "the" large cent connoisseur of the 20th century. Mr. Naftzger purchased this coin in 1948 and thought very highly of it as evidenced by the fact that he owned it for just over 60 years. It is widely considered one of the very finest examples extant. Indeed, when B. Max Mehl sold this coin in 1948, he commented that it was, "Just about the most perfect Proof cent of this year I have ever seen." It seems to have changed very little, if at all, since that time. The Allenburger Collection was filled with wonderful specimens, and he arranged his coins by date rather than by denomination. Mehl either found this arrangement interesting, or perhaps found himself in a position to acquiesce to an unusual demand from a consignor, as he broke with convention in the presentation of the Allenburger coins and sold them arranged in this way.Just two coins have been assigned higher numeric grades by PCGS, but both were designated as brown. The superb color seen here would easily elevate this one above them in the eyes of most specialists.
