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Lot
5246

1869 $5 AU58 NGC. The Philadelphia Mint required only a single day (February 5) to produce its entire delivery of 1869-date...

2006 January Orlando, FL (FUN) Signature Auction #394

 
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Auction Ended On: Jan 6, 2006
Item Activity: 6 Internet/mail/phone bidders
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Location: Orlando, FL
Description:
Important Borderline Uncirculated 1869 Half Eagle
1869 $5 AU58 NGC. The Philadelphia Mint required only a single day (February 5) to produce its entire delivery of 1869-dated Half Eagles. Undoubtedly, the continued suspension of specie payments explains why just 1,760 business strikes were produced. Double Eagles were struck at Philadelphia in much greater number, but these large denomination pieces were used principally for export or bank reserves. This issue is virtually unobtainable in Mint State, and NGC reports a mere five other coins in AU58 (11/05). PCGS has not certified a single coin above the AU55 level (11/05). Most high grade circulated survivors of this issue, and there are not many, display remnants of a semi-prooflike finish. This coin is no exception, and the honey-gold surfaces reveal appreciable brightness in the fields at direct light angles. The surfaces are moderately abraded from circulation, but the devices retain overall bold definition, and the only worthwhile pedigree marker is a moderate abrasion in the obverse field between the 1 in the date and the first star.(Registry values: P3) (NGC ID# 25W7, PCGS# 8317)

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