Rare NGC-certified 1888 U.S. Proof Set realizes over $650,000

Pedigreed to John Robert Fletcher, the complete 13-piece set includes seldom-seen issues and an incredible story.

An extremely rare 1888 U.S. Proof Set that is entirely certified by Numismatic Guaranty Company (NGC) sold for an outstanding $672,000 in a Spink sale held on September 24, 2022. According to the auction house, this may be the last remaining original intact set in private hands. Pedigreed to John Robert Fletcher, each coin in the set is certified by NGC and encapsulated with a special John Robert Fletcher NGC certification label.

One of the stars in the set is an 1888 Liberty Head Double Eagle graded NGC PF-64+ Cameo. According to the auction house, it is believed to be one of 20 remaining examples from a mintage of a mere 105 Proofs. This beautifully struck issue has frosting around each of the 13 stars.

The set also includes an 1888 gold $3 graded NGC PF-65 Cameo. It is well-struck, with frosting around the stars on the reverse. This coin is one out of the 291 Proofs struck in the series’ penultimate year.

Other coins in the 1888 Proof Set include:

• a Liberty Head Eagle graded NGC PF-64+ Cameo
• a Liberty Head Half Eagle graded NGC PF-64 Cameo
• a Liberty Head Quarter Eagle graded NGC PF-65 Cameo
• a gold dollar graded NGC PF-64 Cameo
• a Morgan dollar graded NGC PF-65
• a Seated Liberty half dollar graded NGC PF-65
• a Seated Liberty quarter graded NGC PF-66
• a Seated Liberty dime graded NGC PF-65
• a Liberty Head nickel graded NGC PF-65
• a three-cent nickel graded NGC PF-64
• an Indian Head cent graded NGC PF-65 RB

The Story of the Set and Its Record-Breaking Price

The history of the rare 1888 Proof Set begins in England with tissue paper specialist and businessman John Robert Fletcher. After winning a gold prize at the Philadelphia Exhibition, Fletcher would expand his business ventures in the U.S., including contracting as a supplier with the U.S. Mint. He purchased the Proof Set for $46, an equivalent to the average monthly wage in the U.S. at that time. In 1889, Fletcher returned to England to deal with the murder of his uncle, which gained widespread notoriety at a time when that country’s attention was captivated by the Jack the Ripper serial killings and the inaugural Sherlock Holmes novel.

“I knew this was going to be a career-defining moment, and I feel truly privileged to have shared in this remarkable story,” said Gregory Edmund, Head of Numismatics and Chief Auctioneer of Spink. “John Robert Fletcher will undoubtedly go down in the hall of fame as a home-grown British legend.”

The Proof Set remained in the family for generations until it was given as a gift to the Spink consignor in 1998. Recently rediscovered, the set was sent to NGC for certification, then was offered as a single lot by Spink. After spirited bidding by over 300 bidders, the 1888 Proof Set was sold to a U.S. collector for the record-breaking price.

Press release courtesy of the Numismatic Guaranty Company

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