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Lot
5374

1909-O $5 MS62 PCGS Secure. CAC....

2012 August 2-5 US Coins Signature Auction- Philadelphia #1173

 
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Auction Ended On: Aug 3, 2012
Item Activity: 12 Internet/mail/phone bidders
1,024 page views
Location: Sheraton Philadelphia Downtown Hotel
201 North 17th Street
Philadelphia, PA 19103

Description:
1909-O Indian Half Eagle, MS62
Remarkable Preservation for This 20th Century Rarity
1909-O $5 MS62 PCGS Secure. CAC. The 1909-O half eagle is distinctive in several ways. First, it is the final gold coin produced at the New Orleans Mint. Second, it is the only Indian Head half eagle to be struck at this mint. Third, it has the lowest circulation strike mintage (34,200 pieces) of any Indian Head five dollar.
Very Fine and Extremely Fine examples can be located with relatively little difficulty. About Uncirculated pieces, on the other hand, are scarce, and Mint State examples through MS62 are extremely challenging. Indeed, Select and near-Gem examples are the finest most collectors can hope to obtain, as Gem and finer specimens are virtually unobtainable.
In addition to its rarity in Mint State, the 1909-O five dollar can be difficult to locate with outstanding eye appeal. Doug Winter (2006) attributes this to the fact that "most have been cleaned and otherwise poorly handled." Consequently, any original high-grade example is always in demand. This is a remarkably well-preserved coin. The surfaces display soft mint frost, a feature that is notably lacking on most 1909-O fives. The strike is also notably strong, especially for the issue, with complete detailing on the bottom feather in the headdress and a strong, fully rounded mintmark. The bright yellow-gold mint luster is covered with slight, even reddish patina. Because of the luster and uniformly strong strike the CAC endorsement is easy to understand. The only limitations on the grade are a few medium-sized abrasions on the reverse. Population: 20 in 62, 18 finer (6/12).(Registry values: N7079) (NGC ID# 25ZK, PCGS# 8515)

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