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Lot
4320

1831 1/2 C Original PR58 PCGS. C-1/EO-5, B-1, R.5. Die State 1....

2013 June 5 - 9 US Coin Signature Auction - Long Beach #1186

 
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Auction Ended On: Jun 6, 2013
Item Activity: 9 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Description:

Original 1831 Half Cent, C-1/EO-5, B-1
Well-Pedigreed PR58 Specimen
1831 1/2 C Original PR58 PCGS. C-1/EO-5, B-1, R.5. Die State 1. The EO-5 notation pioneered by Cohen refers first to Adam Eckfeldt ("E") as the Chief Coiner under whom this piece was made, followed by an "O" for Original and "5" for its slot in the sequence of original proofs produced. The "C-1" designation refers to business strikes (if they exist), which would have been struck from the same dies as the proofs.

Considerable controversy existed at the time of this piece's offering as part of The Jules Reiver Collection and remains today; the previous cataloger of this coin references the debate that took place in the pages of Penny Wise in 1996 and 1997, when Ron Manley and Frank Wilkinson opined that all Original 1831 half cents were proofs and Rick Coleman argued for the existence of business strikes. The Reiver catalog description notes how NGC described the coin as a proof, yet in its prior auction appearance as part of the Norweb Collection, the coin was labeled as a business strike. PCGS, in "crossing over" this coin, showed concurrence with NGC.

This is a generally smooth example, worn only at the uppermost design elements. It is sharply struck, if less reflective than might be expected on a proof, with rich olive-brown surfaces showing traces of rose and lilac. A handful of isolated spots appear on the obverse, while the reverse has a minor rim bump over the M of AMERICA. All-in-all, this is an appealing coin that stands on its own merits and continues to prove why it earned its famous past owners. Our EAC grade PR40.
Ex: King Farouk; Norweb Collection (Bowers and Merena, 10/1987), lot 79; Jules Reiver Collection (Heritage, 1/2006), lot 19114, which realized $80,500.(Registry values: P6) (NGC ID# 2236, PCGS# 1186)

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