1903 G$1 LA Purchase, Jefferson (Proof)

In 1992, Q. David Bowers wrote: "One hundred specimens of [the 1903 LA Purchase, Jefferson Gold Dollars] were struck with Proof finish and were distributed to favored insiders as well as Exposition and government officials, not to the collecting fraternity." Most, perhaps all, of these Proofs were placed into specially made certificates, with the coin sandwiched between two "windows" of waxed paper, then sealed in place with twine that was tied in a bow, the ends of which were sealed in red wax (in essence, an early "slab").

The certificates bore the following imprint: "This is to certify that the accompanying Louisiana Purchase Exposition gold dollar struck at the Mint of the Unitned State, Philadelphia, in accordance with an Act of Congress approved June 28th, 1902, is one of the first one hundred impressions from the Jefferson dies." Most of the Proof coins have been removed from the certificates in order to be graded, and it is becoming increasingly rare to find one in the original packaging. Thus, even the empty certificates have value to collectors of commemorative ephemera.

PCGS alone has certified over 40 Proof Jefferson Dollars, though the actual number may be smaller because of resubmissions. PCGS shows both non-Cameo and Cameo versions, though it is likely that all were struck as Cameo Proofs (PCGS did not recognize Cameos in the early years of its existence). The overall quality of these Proofs is not as good as one might expect. Many come out of the certificates with a milky haze or coppery toning spots; others show signs of mishandling or hairlines.

With such a small mintage, the Proof Jefferson versions of the 1903 Lousiaian Purchase Gold Dollars are highly prized by collectors.