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Lot
6296

1869 $5 AU58 NGC. The Philadelphia Mint required only a ...

2003 Charlotte ANA National Money Signature Sale #316

 
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Auction Ended On: Mar 21, 2003
Item Activity: 3 Internet/mail/phone bidders
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Location: Charlotte, NC
Description:
Low Mintage 1869 Five Dollar Rarity, AU58
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. This issue is virtually unobtainable in Mint State, and NGC reports a mere four other coins in AU58 (2/03). PCGS has not certified a single coin above the AU55 level (1/03). 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 a little scuffy 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 star 1. Population: 4 in 58, only one (MS61) is finer (2/03).
We have auction records for just three other AU58 1869 Half Eagles, all of which were certified by NGC at the time of sale:

1. Ex: NGC East Coast Expo Bullet Auction (Heritage, 9/1993), lot 173.

2. Ex: Long Beach Signature Sale (Heritage, 9/1999), lot 6705.

3. Ex: FUN Signature Sale (Heritage, 1/2001), lot 8211. (NGC ID# 25W7, PCGS# 8317)

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