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1906 $5 PR67 NGC....

2011 February Long Beach Signature US Coin Auction #1152

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Auction Ended On: Feb 4, 2011
Item Activity: 6 Internet/mail/phone bidders
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Location: Long Beach Convention Center
100 S. Pine Avenue
Long Beach, CA 90802


1906 Liberty Half Eagle, PR67
A Nearly Perfect Proof Striking
1906 $5 PR67 NGC. Proof half eagles were struck in every year of the With Motto series beginning in 1866, and nearly every year is represented in the No Motto series. However, all proof fives are rare. In an article in Coin World written by Jeff Starck, he explains:

"The high face value of Proof coins kept demand in check, according to Garrett and Guth, as few people could afford to set aside $5 and a coining fee every year to obtain them.
'Thus proof mintages range from a low of 20 [1875] to a high of 230 [1900],' they wrote."

The mintage of the 1906 and 1907 fives dipped below 100, making these final dates in the series scarcer than one would expect from late-date issues. Only 85 proofs were struck of the 1906 and high-grade examples are infrequently seen. Again quoting Garrett-Guth, "Nearly all of the examples seen for 1906 are around PF-64 quality. The population numbers are highly inflated for the issue by resubmissions." There does indeed seem to be an inordinate number of PR64 examples of this date, with 29 examples in that grade. At the upper end of the grade range, there are three PR67 Cameo coins that have been certified, but this is the only non-Cameo PR67 certified to date (1/11). It is also worth noting that there are no Deep/Ultra Cameo proofs certified of the 1906 in any condition, undoubtedly because of the residual "no-contrast" method of proofing from 1901-1903. Of the 60-75 proofs believed extant today, only one other piece is finer, an NGC PR68.
The Star designation on this piece is an indicator of the added eye appeal of this proof. Each side is virtually flawless. We do not see any man-made imperfections. The obverse shows a tiny planchet flake out of the field in front of Liberty's mouth, and on the reverse there is an alloy spot between the eagle's right (facing) claw and end of the olive branch. Even reddish-gold color is seen over each side, the fields are nicely reflective, and there is slight contrast evident between the fields and devices.(Registry values: P1) (NGC ID# 28DC, PCGS# 8501)

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