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Lot
2874

1842-C $5 Small Date AU58 PCGS. Variety 4-C, the only known dies. Die State II. The two die states of this variety are easi...

2006 February Long Beach Signature Auction #400

 
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Auction Ended On: Feb 10, 2006
Item Activity: 5 Internet/mail/phone bidders
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Location: Long Beach, CA
Description:
Exceedingly Rare 1842-C Small Date Five Dollar, AU58
1842-C $5 Small Date AU58 PCGS. Variety 4-C, the only known dies. Die State II. The two die states of this variety are easily distinguished by the presence or absence of a rim break at the top of the obverse, over star 7. Examples with the rim break are more prevalent, although both die states are rare, especially in such fine condition. Walter Breen recorded historical notes about the 1842 Charlotte Mint coinage. Only 4,595 examples of the Small Date variety were produced, while 23,589 of the Large Date were coined. The obverse die broke on March 22, according to Breen.
Very few examples of this variety have been certified, perhaps because few exist! This coin is unusually sharply struck with only slight weakness on the eagle's neck feathers. The surfaces are mildly reflective with brilliant yellow luster. Minor abrasions are visible on both sides. Although PCGS and NGC have combined to certify nine examples in MS60 or better grades, we believe that only three or four such pieces exist. This is the second rarest Charlotte Mint issue behind the virtually unobtainable 1849-C Open Wreath gold dollar.(Registry values: P8) (NGC ID# 25SV, PCGS# 8208)

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