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Lot
5386

1842-C $5 Small Date MS61 NGC. Variety 1....

2011 April Rosemont CSNS Signature & Platinum Night US Coin Auction #1154

 
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Auction Ended On: Apr 28, 2011
Item Activity: 10 Internet/mail/phone bidders Number of Bidders
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Location: Donald E. Stephens Convention Center
5555 N. River Road
Rosemont, IL 60018
Description:
1842-C Small Date Five Dollar, MS61
Series Key and Third Finest Known
1842-C $5 Small Date MS61 NGC. Variety 1. Die State I. The 1842-C Small Date is the rarest Charlotte half eagle, and is the second rarest issue of all Charlotte coins, trailing only 1849-C Open Wreath gold dollar. Only 4,595 pieces were originally struck, and it is estimated that today a mere 60-80 coins are extant in all grades. Current population data from NGC and PCGS (3/11) indicates that seven pieces have been certified in mint condition between the two services. We seriously doubt that represents seven individual coins, as several years ago this issue was considered unique in Uncirculated (the Ex: Elrod coin). In Doug Winter's latest Charlotte reference (2008) this coin is listed as third finest on his Condition Census, a list that begins with AU58 and tops out at MS62.
The striking details are exceptionally well defined on this coin. The hair curls and peripheral stars are strong with the only area of weakness being the feathers on the eagle's neck, as always seen. The few survivors of the 2,555 pieces struck from Die State I are generally sharply struck and they are especially well defined when compared to the Die State II coins. As an aside, approximately three-quarters of the known examples of the 1842-C Small Date are from the Die State II dies, which show a rim cud at 12 o'clock on the obverse. The surfaces overall are quite clean and show only minimal abrasions for this usually extensively abraded issue. As with many Charlotte and Dahlonega coins, the fields are semireflective, no doubt from the minimal usage of the dies, and the coin shows light green-gold coloration overall.
The collector of Charlotte gold would be well advised to bid generously on this coin, as another Mint State example may not be on the market for many years.
Ex: 2004 FUN Auction (Heritage, 1/2004), lot 3021, where it brought $77,625.(Registry values: P8) (NGC ID# 25SV, PCGS# 8208)

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