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Lot
5861

1840-O $5 Narrow Mill MS62 PCGS....

2012 October 18-21 ANA US Coins Signature Auction - Dallas #1175

 
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Auction Ended On: Oct 19, 2012
Item Activity: 7 Internet/mail/phone bidders
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Location: Dallas Convention Center
650 S. Griffin Street
Dallas, TX 75202

Description:
1840-O Narrow Mill Five Dollar, MS62
Ex: Eliasberg/Bass Coin
1840-O $5 Narrow Mill MS62 PCGS. Ex: Eliasberg/Bass. One of the most intriguing aspects of this coin is what cannot be immediately seen. The edge is a partial collar striking, or "railroad rim," error. Close examination through the edge of the PCGS encasement with a loupe shows that the obverse portion of the rim is plain, while the reverse shows milling. This error occurred when the collar only partially covered the planchet, and therefore partially reeded the edge.
While the partial collar striking is an interesting aspect, what is most significant is the extraordinarily high grade of this coin. While not rare in the absolute sense, the 1840-O is extremely rare in Uncirculated grades. Only 26 certification events have been recorded from MS60-65 by both PCGS and NGC combined (9/12), with 10 pieces certified in MS62 and four finer (minus an unknown number of resubmissions). This is a highly lustrous coin with rich orange-gold coloration. The striking details are unusually strong for the issue with none of the usually seen central striking weakness on the reverse. A small diagonal planchet crack is seen across the point of Liberty's chin, but there are no other prominent surface flaws on either side.
Ex: Eliasberg (Bowers and Ruddy, 10/82), lot 415; Bass III (Bowers and Merena, 5/00), lot 351; Central States Signature (Heritage, 5/2005), lot 8607, where it brought $25,300.(Registry values: P6) (NGC ID# 25SK, PCGS# 8200)

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