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Lot
5399

1873 $5 Closed 3 PR65 Ultra Cameo NGC....

2011 April Rosemont CSNS Signature & Platinum Night US Coin Auction #1154

 
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Auction Ended On: Apr 28, 2011
Item Activity: 6 Internet/mail/phone bidders
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Location: Donald E. Stephens Convention Center
5555 N. River Road
Rosemont, IL 60018
Description:
1873 Half Eagle, PR65 Ultra Cameo
Only 10-12 Pieces Believed Known
1873 $5 Closed 3 PR65 Ultra Cameo NGC. All the proofs known for the 1873 five dollar are of the Closed 3 variety. A mere 25 proofs were produced, and this piece is among the finest known. The numbers certified by both NGC and PCGS are clearly enhanced by numerous resubmissions as 21 pieces show to have been certified in all grades and all finishes from PR40 to PR65 Ultra Cameo. The misleading certification numbers for this date were recognized and commented upon by Garrett-Guth in their 2006 reference: "The number of coins certified by the major grading services can be ignored for this issue, as they are high inflated by resubmissions." The 1873 proof five dollar is just as rare as the other low-mintage proofs from the 1860s and 1870s, and probably no more than 10-12 individual coins are known today.
Proof gold from the 1860s and 1870s is extremely rare and seldom offered. Mintages varied from a high of 66 pieces in 1861 to a low of 20 coins, represented by multiple dates in the 1870s. For almost all of these dates the number of survivors is consistent and extremely low, usually from 8 to 12 pieces.
This exceptional proof striking displays intricate detailing, and each side is draped with a significant presence of reddish patina. On the obverse there are five tiny marks that identify this coin, all are either on the chin of Liberty or in the field just in front of the chin. The surfaces have mild orange-peel texture, a common characteristic on proof gold coins in the latter half of the 19th century. Census: 3 in PR65 Ultra Cameo, 1 finer (3/11).
Ex: Atlanta Rarities Sale (Bowers and Merena, 1/2001), lot 378; 2006 Baltimore Auction (7/2006), lot 1614.
From The Slotkin Family Trust Collection.(Registry values: P4) (NGC ID# 28CA, PCGS# 98468)

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