1872 Proof

The 1872 Proof Liberty Head Double Eagle occupies a difficult-to-acquire slot inside the Type 2 With Motto proof series, struck at Philadelphia from a recorded mintage of just 30 pieces. James B. Longacre's coronet portrait had been in circulation since 1850, but the addition of IN GOD WE TRUST above the eagle in 1866 defined the Type 2 design that ran through 1876, and proof production during that span never approached commercial scale. The 1872 issue sits in the declining mid-period of that run, between the 1871 figure of 30 pieces and the 1874 floor of 20, with 1873 producing 25. Cataloged as JD-1 by John Dannreuther and rated Low R.7, the date stands among the scarcer Type 2 proof double eagles by surviving population, and the entire eleven-year proof run for the type totals roughly 335 coins originally struck.

Surviving examples are estimated at fewer than ten across all grades. At least two are impounded permanently in institutional collections, with one held by the American Numismatic Society and another by the Smithsonian National Numismatic Collection. Of the remainder, several have been cleaned over the decades and now grade in the PR62 to PR63 range, leaving only a small handful of unimpaired survivors available to private collectors. PCGS and NGC populations across all grades reflect that scarcity, with most certified pieces falling in the PR63 to PR64 band. Cameo and Deep Cameo designations are uncommon at this date, which is consistent with the heavy use proof dies received during the Type 2 era. Authentication relies on careful examination of strike depth, mirrored field reflectivity, and the subtle die diagnostics associated with the JD-1 working pair.

Public auction appearances are infrequent, often separated by years. The current market benchmark is the PR64 PCGS example housed in an old green label holder, the only 1872 approved by CAC, which realized $135,125 in Heritage Auctions' October 2014 New York sale (lot 5111). The condition record remains a PR66 Deep Cameo PCGS specimen that brought $143,750 in Stack's June 2002 sale, lot 127, and that result still anchors high-grade pricing for the date. Collectors pursuing this issue often work within the broader Liberty Head Double Eagle series history.