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Lot
3321

1873 $5 Closed 3 PR63 Cameo NGC....

2008 May Long Beach, CA Signature Auction #1108

 
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Auction Ended On: May 30, 2008
Item Activity: 6 Internet/mail/phone bidders
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Location:

Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802

Lot Viewing:
Room 103B,C (Tuesday Only)
Booth 400 (Wednesday - Saturday)

Auction Room:
Room 103B,C

Description:
Attractive 1873 Closed 3 Five, PR63 Cameo
1873 $5 Closed 3 PR63 Cameo NGC. The 1873 Closed 3 (or "Close 3") and Open 3 half eagles ended the 11-year-long string of minuscule half eagle productions, during which no single issue at any mint was produced to an extent surpassing the 52,000 pieces of the 1868-S five. The Civil War began the decline, and the "Crime of '73" may have ended it, effectively abolishing the Trade dollar and attempting to tie the United States to a gold standard. Mintages of 1873 half eagles of both varieties approached a quarter-million pieces, but only the Closed 3 coins--produced first--saw a proof production of 25 pieces. (At any rate, no Open 3 proofs are known.) Despite the much larger business strike emission, the 1873 Closed 3 proofs are just as elusive as proofs of the previous few years, all showing tiny mintages in the range of 25 to 30 coins per year.
In PR63 Cameo this piece is one of two so graded at NGC, with six coins finer (4/08), although the data are suspect due to multiple resubmissions. The surfaces are an attractive greenish-gold coloration, with much pleasing contrast between the frosty devices and deeply reflective fields. A few light hairlines appear under a high-power loupe that likely account for the grade. (Registry values: P4) (NGC ID# 28CA, PCGS# 88468)

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