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Lot
5898

1865 $5 AU55 NGC. Struck in the final year of the Civil War, the 1865 five dollar is a very rare coin. Only 1,270 pieces we...

2007 January Orlando, FL (FUN) Signature Coin Auction #422

 
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Auction Ended On: Jan 5, 2007
Item Activity: 2 Internet/mail/phone bidders Number of Bidders
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Description:
Rarely Seen, Low Mintage 1865 Five Dollar, AU55
1865 $5 AU55 NGC. Struck in the final year of the Civil War, the 1865 five dollar is a very rare coin. Only 1,270 pieces were produced. As if this low mintage is not enough to account for the rarity of the 1865, the Garrett-Guth reference points out that "Gold coins rarely circulated on the East Coast in this time period, and many of the examples produced were melted...It is also important to remember that collectors of the time preferred Proof coinage to the circulation-strike and branch mint issues. Very few were saved ..." This absolute scarcity also leads to condition scarcity--that is, with fewer coins available on an absolute basis there are consequently fewer coins available in high grades. PCGS and NGC combined have only certified three other coins in AU55 with nine finer (the finest being a cluster of four at the MS61 level). As with most high grade 1865 fives, this piece shows remnants of a prooflike finish from the newly polished dies. The striking details are strong and each side is peppered with numerous small abrasions.(Registry values: P8) (NGC ID# 25VW, PCGS# 8298)

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